Unsecured guns are among our top health and safety hazards. With 400 million firearms in the US, fewer than half are consistently secured by owners resulting in deadly consequences.
We are in the business to change this alarming statistic by the introduction of our SafeOp line of firearm safety products. We have two products that are at MVP stage with advanced prototypes available that we are able to demonstrate. Gun owners want fast access to their firearm and existing safety products are slow, heavy, bulky and unreliable, so people simply don't use them. This represents an incredible opportunity at a time where firearm ownership is at an all time high and no signs of slowing down. The firearms market in 2023 was valued at $41.7 billion.
We have a Smart Holster which will allow only an authorized user access to unlock the weapon via an NFC smart ring (uniquely coded to the owner) or biometric thumb print. Unlock speed is 0.1 seconds making it one of the fastest in the industry. The holster was born from an RFP request by the Gun safety consortium and we have been working closely with police departments across the US in trials throughout 2023. Law enforcement counts for 47% of firearm sales and a significant target audience for our product. We have also captured the attention of one of the world's largest pistol manufacturers, Glock, with our latest in person meeting at their headquarters in Vienna, Austria in Summer 2023 with VPs of R&D, manufacturing and product present. There is a US patent application in it's final stages of approval.
Additionally we have a Smart Trigger which is a drop in safety trigger which turns a regular pistol into a Smart Gun instantly. The trigger can be installed easily in less than 10 minutes though we recommend a professional gunsmith perform the work. The trigger was awarded two US patents in late 2022. Once installed the weapon can be locked or unlocked quickly and securely via a mobile app and smartphone. We have had a lot of interest from firearm training academies and gun ranges for this product as it can make an entire range safe in an instant. There is no other product like this on the market today. We have also gained interest from an Israeli defense company who are planning construction of several gun ranges and firearm training facilities in Israel. We plan to meet with them Spring 2024 with the goal of starting production as soon as possible.
Our company Machine Inc is a Delaware C Corporation. A recent GUST review has the company valued at between $300k and $450k. Our business model is diverse with B2B sales to the likes of law enforcement agencies, police departments and private security firms. Glock themselves are potential customers as we will be able to directly connect into their large volume sales orders as needed. B2C for direct sales to the public via our web site and potentially even retail. Our B2C target audience is women (one of the largest and quickest growing), first time firearm owners as well as early adopters. Lastly we see a revenue stream from the licensing our our IP to other companies. We have already seen interest from several major holster companies who wish to augment their existing holster designs with our technology.
In marketing we are attending trade shows, most recently SHOT Show in Las Vegas, January 2024 where we brought a demo SafeOp holster which was very well received. We have a fantastic web site with professional videos showcasing both products. We are in contact with a number of prominent social media influencers who have expressed interest in showcasing our products in their media (Instagram, Facebook, Twitter) feeds. Specifically for B2C we intend to run a number of paid and organic search campaigns to drive traffic to our site. We have in the past and intend in the future press releases as we achieve major milestones.
Our team consists of David Lawrie, CEO & Founder, entrepreneur with over 25 years invested in software architecture & mechanical engineering. Jeannine Lawrie , Board Member with operations, data and human resources experience. UD Tech LLC, our delivery partner with significant design & development experience and have already brought several firearm products to market.
The $500k raise ask will help us with officer compensation, continued research & development, legal, marketing, certification & compliance. It will allow us to achieve a manufacturing milestone in the production ready delivery of holster evaluation units to Glock and trigger units to Israel.
Thank you for your consideration. We are happy to provide more additional information or even product demonstrations on request.
David Lawrie
CEO + Founder
Machine Inc
[email protected]https://machine.tech