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THE OPPORTUNITY
Surface Tech has over 100 mobile licensed technicians across the
U.S. that utilize its patented process to repair curb damaged
alloy wheels without removing them from the car. This innovative
new process “Method for Refurbishing an Automotive Wheel”
was granted a patent in February, 2002 (U.S. Patent 6,347,444).
The Company has also developed a process to resurface damaged
automotive headlight lenses, and is anticipating high growth in
the newly added “Clear Film” paint and headlight protection
system. This proven product is applied to vehicles to protect
the front fenders, bumper, hood, and headlight lens covers from
getting chipped, pitted or scratched by road debris.
Each of the 28 million cars sold each year is a potential
candidate for SFCI's services, either now or at trade-in or
turn-back time. The vast majority of those cars will have
scuffed wheels, pitted headlight lenses, or rock-chipped paint
on the hoods, fenders and bumpers.
U.S. PATENT
PROTECTION
Surface Tech obtained a U.S. patent that will protect the economic
viability of their wheel repair technology and future market
share. The strength of the issued patent, along with the filed
continuation patents provide solid protection from unlicensed
competitors. Other valuable and innovative repair processes
such as Paintless Dent Removal have suffered a decline in
profitability due to not having patent protection. As the
original innovator of on-site wheel repair and owner of the
patent rights, SFCI will continue to see increasing royalties
from the multi-billion dollar a year auto reconditioning
industry.
REVENUE BASE
SFCI current customers consist of over 4,000 auto
dealerships, auto auctions, car rental companies, insurance
companies and warranty programs. SFCI licensed field
technicians billed over $1,000,000 in 2001 and over $2,000,000
in 2002. The company anticipates adding 100 technicians this
year and the total billing is anticipated to surpass $10,000,000
in 2003.
ADDITIONAL
REVENUE SOURCES
A new product for SFCI will be an innovative new warranty
program. SFCI will receive an immediate fee for each new
warranty sold at the time of vehicle purchase. The coverage will
include wheel repair, headlight lens resurfacing, and “Clear
Film” paint protection system.
The finance department of auto dealerships have historically
been the source of a significant percentage of the dealer’s
profit through the sale of add-on products, as well as the
financing of the vehicle. The dealerships are currently
experiencing a dramatic drop in that profit due to low interest
financing and a lack of product that consumers see a value in.
The new appearance warranty provides them with a very profitable
product that a high percentage of their customers recognize as a
means to protect the appearance and value of their
investment.
THE NEED FOR EXPANSION CAPITAL
To penetrate the world-wide marketplace, which consists of
hundreds of thousands of car dealerships, auto body shops,
rental car agencies, auto auctions and the general public the
company requires capital. These funds will secure additional
techs, trucks, equipment and legal protection for its network..
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