VeinAppear.com
VeinAppear Executive Summary
July 25, 2011
The product:
The VeinAppear is an electronic device for clinical use by professional nurses, physicians, and phlebotomists. It is designed to make it easier to draw blood or to establish an infusion line into the veins of patients. The device is painless, almost instantaneous, and safe. The projected retail price is $8,983. The manufacturing cost is projected to be less than $200. The device is in the operating prototype stage and a 2 minute video demonstration is posted below. There is a possibility of adding a required disposable to the system.
The company:
VeinAppear, Inc. is a newly formed, start up private company domiciled in Delaware. The company owns the technology it acquired from David B. Phillips, Ph.D. in exchange for 80% of the company’s stock. Two other parties are principals; Brian Sheldon, LPN, currently president of ReBuilder Medical Technologies, (RBRM, pink sheets), and James Sylvester, nationally recognized consultant for entrepreneurs. Mr. Sheldon was granted 10% of the stock and Mr. Sylvester was granted 10% of the stock. The company currently operates out of space rented from ReBuilder Medical Technologies, Inc., Suite C, 636 Treeline Drive, Charles Town, WV. The company has no employees, no debt, and no expenses other than those future developmental expenses outlined below.
Inventor’s bio:
David B. Phillips, Ph.D. invented and developed the GST System for the Earlier Detection of Breast disease in 1978 which was proven at Memorial Sloan Kettering Cancer Center in NY at 84% accurate and took that company public in1980. He then invented and developed the world’s first infrared ear thermometer in 1986, funded via venture capital, and was awarded the “Inventor of the Year Award in 1988. That company was sold to a major pharmaceutical company. In 1988 he invented and developed the ReBuilder for Neuropathy, an electrical home care device for the painful symptoms of neuropathy, MS, MD, and peripheral vascular disease. This company he took public in 2007 and is still operating at www.rebuildermedical.com. He then invented and developed a cure for the contagious skin disease, Molluscum Contagiosum using nanosilver and an electronic device to infuse the silver into the lesions painlessly. He sold this company to a private investor in 2008 and this company is operating at www.molluscum.com.
Funding needs:
The company is seeking an immediate infusion of $1,775,000 to fund the R&D to develop the device through the manufacturing engineering stage and demonstrate its viability in the market. The company expects that this cash will take the company to the point of establishing a revenue stream of $100,000 per month at the end of August, 2012. Thereafter, we expect to either raise additional marketing capital or sell off the technology and/or the company itself.
Use of proceeds:
| Hire two engineers, one electronic, one packaging | $200,000 |
| Purchase parts, etc. | $150,000 |
| Management salaries | $300,000 |
| Office rent, supplies, etc | $75,000 |
| Travel to demonstrate device | $75,000 |
| Consultants | $75,000 |
| Marketing efforts | $500,000 |
| Administrative staff | $125,000 |
| Manufacturing expense | $225,000 |
| ____________ | |
| Total | $1,775,000 |
Goal and future liquidity:
The company is positioned to sell the technology to a much larger entity with sufficient manufacturing and marketing capacity to distribute the system all over the world, once the proof of concept and proof of marketability has been demonstrated. The company expects to self sustaining after one year to enable it to maximize its attractiveness to the medical device manufacturing and distributing market.