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SPIN remote B.V. team 6
SPIN remote B.V. Meteren, NL

No longer in business - SPIN remote

A smarter home for everyone. One remote for all your devices, free of all those buttons you never use. Meet SPIN remote - the Simplest, most Stylish remote ever

$215,999 INVESTED
100%
$215,999
Minimum target amount
10%
Equity
Small_thumb_spin-logo-text-bg-583x583 No longer in business - SPIN remote
INNER CIRCLE
The concept

Dutch: Klik hier (http://bit.ly/spin-summary) voor een Nederlandse samenvatting en voor een instructie om de video met Nederlandse ondertiteling te bekijken.


"SPIN enables ultimate comfort on your couch" - Newsweek


"SPIN remote is a lean, green, button-fightin' machine. Meet the last remote you'll ever need" - Atmel


"It's a fascinating concept, not least due to how it simplifies the sometimes complex remote control." - Gadget Review


"Simple enough, and sporting a clean design free of all those buttons you never use, this might be a hit for your home." - Daily Crowdfunder


SPIN remote is for anyone who wants to be in control of their devices, but is frustrated with the ever growing number of buttons, remote controls and Apps this requires. SPIN remote B.V. has revolutionized the concept of how a remote control works and what it looks like. One remote for all your devices, free of all those buttons you never use – SPIN remote is the simplest, most stylish remote ever.


SPIN remote is packed with sensors to detect motion, rotation, orientation and touch. Its groundbreaking technology seamlessly transforms this information into commands your equipment will understand. Boundaries start to fade, as SPIN remote can just as easily control a non-networked TV as it can dim smart lights.

Unique Selling Points

  • Universal control: SPIN remote controls your existing infrared devices and your smart devices.
  • 360-degree Infrared: SPIN remote can send out Infrared signals in every direction, making pointing a remote a thing of the past.
  • Bluetooth Smart: SPIN remote can communicate with Bluetooth 4.0 compatible devices.
  • Macro support: SPIN remote can send out Infrared command sequences, allowing it to turn on multiple devices at once.
  • Touch activated: SPIN remote activates as soon as the aluminum shell is touched.
  • Pre-set indicator: SPIN remote uses color (light) to indicate which pre-set is active (e.g. green is “Watching TV”, blue is “Listening radio” and red is “Smart light control”).
  • Dial control: SPIN remote can be used as a dial, with different control functions based on its orientation and direction.
  • Smart Touchpad: SPIN remote contains a touchpad at the bottom, allowing additional control functions.
  • FindMe alarm: SPIN remote contains a find me alarm (vibration and LEDs) which can be activated by an external device.
  • Proximity sensing: SPIN remote can automatically control the nearest Bluetooth Smart device.
  • Energy efficient: SPIN remote contains energy efficient hardware and software which ensure a long battery life.
  • Shockproof and water-resistant: SPIN remote is built using durable and solid materials which make it resistant for splashing water.
  • Personalizable: SPIN remote has an exchangeable shell which can be fully customized (color, material and shape).
  • SPIN remote App: Free iOs and Android App to setup the main controls of SPIN remote.

Revenue model

The market for SPIN remote can be divided into 2 segments, the consumer and business market. 


For the consumer market we will sell our product, branded as SPIN remote, through online and offline retail channels. Retail price is targeted at EUR 99,-. In addition we will offer family packs and colored shells for product customization. 


For the business market we will sell directly to OEM partners who will use the SPIN remote technology and/or components to add an innovative remote as an accessory or standard equipment to their electronic devices. Current growing markets are smart TV, wireless audio and smart lights. 


Our goal is to grow sales exponentially, with a total of at least 640.000 units sold in 5 years. This translates to a very realistic market share of at least 5% with SPIN remote alone.

Achieved so far

  • Exceeded our Kickstarter funding goal (114%) with a total of over 1.100 units sold;
  • Registered our trademark and design patent;
  • Filed a provisional patent application;
  • Numerous articles published in national and international press;
  • Built a strong social media presence;
  • Presented SPIN remote at the CES 2015 show in Las Vegas;
  • OEM product definition at advanced stage for first B2B partnership;
  • Advanced talks with various retail channels.

Required investment and purpose

The main goal is to successfully launch SPIN remote to the market and accomplish a growing cash flow. The funds will be used for:

  • Website upgrade and integration of webshop for online purchases;
  • Social media campaign with targeted Google and Facebook ads;
  • Promotions including press releases, advertisements, giveaways;
  • Attend IFA tradeshow in Berlin in September 2015 with a starter booth;
  • Expand our team with App developer to develop new features;
  • Limited overhead to cover our standard business procedures;
  • Production of new molding required for mass production;
  • File international patent application;
  • Minimum stock of SPIN remotes.
Total investment required is EUR 130.000 (see attachment for a complete overview).

For the investor

The average pre-money valuation of SPIN remote is: € 1.842.195 which translates to a share of 6,6% with an investment of €130.000 (see attached Equidam report). As a special thank you to the Symbid investors we decided to increase the total amount of shares offered to 7%.

According to the Equidam report the return on investment will be 1124% in 3 years with an average company value of € 20.702.597 (based on the valuation models that generate a 3 year valuation projection (3 out of 5)). With a more traditional valuation of 5 times the net profit the return on investment would be 435%. Based on these two calculations we foresee a return on investment between 500 and 800% in 3-5 years. When the valuation turns out higher you will profit from the increased value of your share.


In addition we offer a special discount on your SPIN remote purchase for investments of € 500 and more:

  • Investment between € 500 and € 999: 30% discount on retail price;
  • Investment between € 1000 and € 1999: 50% discount on retail price;
  • Investment between € 2000 and € 4999: Free SPIN remote;
  • Investment of € 5000 or more: Free SPIN remote Limited Edition “Escher”.


With just a small investment today, you will help unlock a huge potential tomorrow. Invest now and let’s bring back simplicity together!

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Mathijs Vaessen
Business Development Manager

Co-founder of SPIN remote with a background in consultancy and product management. Mathijs is a highly skilled business developer with a broad knowledge and experience in the field of marketing research, market analysis , business development and product development. He holds a master degree in Science and Innovation management.

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Ruud de Vaal
Hardware Development Manager

Co-founder and inventor of SPIN remote. Ruud has over 20 years of experience in the field of electronic design and is responsible for numerous patents. A few years ago Ruud has co-founded a highly innovative LED business of which he successfully led the R&D division.

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Arjan van Bremen
Software Development Manager

Co-founder of SPIN remote and an all-round engineer with a passion for innovative technology. Arjan started his software development career at a very young age and founded his first company when he was only 18 years old. He graduated Cum Laude as Bachelor of ICT and has years of experience managing large multidisciplinary projects from both an engineering and architecture perspective.

The product

SPIN remote is designed for anyone who wants to be in control of their devices, but is frustrated with the ever growing number of buttons and remotes this requires. SPIN remote B.V. has revolutionized the concept of how a remote control works and what it looks like.


SPIN remote is packed with sensors to detect motion, rotation, orientation and touch. Its groundbreaking technology seamlessly transforms this information into commands electronic equipment will understand. SPIN remote can be used to control existing Infrared equipment and it offers a tangible interface to control smart devices.


The design of SPIN remote is inspired by its function. The main control function of SPIN remote is based on rotation motion that enables various commands. This results in a device that differentiates itself from its former counterparts, making it a unique and state of the art product.


The top (shell) is made out of aluminum giving it a modern and robust look and feel with a transparant covering to display the logo. Once the shell is touched SPIN remote will be activated and the logo and bottom ring will light up. The color can be used to identify the function (Watch TV, Listen to the radio, etc). The shell can be exchanged for other colors and designs to make sure SPIN remote fits in with what you already have and be different from the one everybody else has.

Unique Selling Points

  • Universal control: SPIN remote can replace existing infrared remotes and it offers a tangible interface to control smart devices. To fulfill this function the remote will be able to learn code from existing remotes, save the code and link the code to a specific movement. Where a universal remote usually has around 36 buttons, SPIN remote focuses on the main functions of a remote like switching devices on or off, adjust the volume and change channels. SPIN remote can control up to 10 devices.
  • 360-degree infrared: SPIN remote contains 6 high end infrared LED’s positioned in the base giving it a 360 degree reach. The infrared signals are sent out in every direction, making pointing a remote a thing of the past.
  • Bluetooth Smart: SPIN remote is equipped with Bluetooth 4.0 making it compatible with a large number of smart devices.
  • Touch activated: SPIN remote can be activated by touching the aluminum shell. As soon as there is contact, the LED will switch on to indicate SPIN remote is activated and ready to use. When the contact is interrupted the LED will turn off and SPIN remote becomes inactive.
  • Macro support: Starting a simple entertainment function like watching a movie usually requires the use of 2-3 electronic devices (TV, Audio, DVD) and the same number of remotes. The startup of this function requires turning on each device using the matching remote and selecting the right source / channel. The sequence of combining a number of actions is called a Macro function. For each pre-set the user is able to program a Macro function.
  • Pre-set indicator: To differentiate between electronic devices or functions (like watching TV, listening to the radio or control smart lights) the user can program up to 10 pre-sets. A pre-set is a collection of functions which can be identified by its color, e.g. green is “Watching TV”, blue is “Listening radio” and red is “Smart light control”. These colors can be adjusted based on a person’s preferences. The App will instruct the user on how to learn and store the code from an existing remote. By rotating SPIN remote in a small circle the user can change between pre-sets by going from one color to the next.
  • Dial control: SPIN remote supports 10 standard rotational control functions. A single rotational control function is defined by the device’s orientation, the direction of rotation (clockwise or counterclockwise) and the number of degrees over which the rotation occurs.
  • Smart touchpad: The bottom of SPIN remote contains a smart touchpad which is divided into 5 segments, 1 smaller circle in the middle and 4 segments equally divided over the outer circle. The App can be used to setup the functions of the touchpad to a user’s own preference. The selected functions for the touchpad can be different for each pre-set, e.g. when watching TV the smart touchpad can be used to browse the TV guide and when watching a movie the smart touchpad can be used to play/pause and play forward and backwards.
  • FindMe Alarm: According to a study the average television watcher will spend more than two weeks looking for lost remote controls during their lifetime (http://www.telegraph.co.uk/news/newstopics/howaboutthat/9776219/TV-viewers-spend-two-weeks-looking-for-lost-remote-during-their-lifetime.html). We have solved this by adding a 'Find me' button in the App. Pressing this will cause the device to start vibrating and flashing the LEDs so you will know where to look and have it back in no-time.
  • Proximity sensing: SPIN remote can automatically control the nearest Bluetooth Smart device. This function can be used to control multiple smart lights or wireless speakers which are equipped with Bluetooth smart. SPIN remote will be able to sense the nearest device and will only control this device or group of devices.
  • Energy efficient: SPIN remote contains energy efficient hardware and software which ensure a long battery life (approximately 6 months depending on its settings and use).
  • Shockproof and water-resistant: SPIN remote is built using durable and solid materials which make it resistant for splashing water. Due to the silicone base and closed shell the remote will be resistant to splashing water.
  • Personalizable: SPIN remote has a removable shell which can be exchanged for another version to match you interior style. This can be a shell in a different color, different material or different finishing. The standard SPIN remote will come with a natural finished aluminum shell. Additional shells can be bought as an accessory.
  • SPIN remote App: SPIN remote comes with a free App which can be used to setup the device.

Revenue model

The market for SPIN remote can be divided into 2 segments, the consumer and business market. 


For the consumer market we will sell our own product, branded as SPIN remote, through online and offline retail channels. Retail price for one SPIN remote is targeted € 99,-. In addition we will offer a family pack with 2 SPIN remotes and offer customized shells in different colors which can be bought as an accessory or as a special gift pack. The product comes with a free iOs and Android App which can be used to setup SPIN remote. In the near future the App will be expanded with additional expert features which can be purchased online.


For the business market we will sell directly to OEM partners who will use the SPIN remote technology and/or components to add an innovative remote as an accessory or standard equipment to their electronic devices. Interesting growing markets are smart TV, wireless audio and smart lights. Depending on the partner's needs and own resources we will supply a complete customized remote or the main technical components including software.

Scalability

During the Kickstarter campaign we were able to sell over 1100 units in a short period of time. These customers were willing to pre-order a SPIN remote without actually seeing it first, getting a recommendation from friends or reading product reviews. Their consideration to buy a SPIN remote was merely based on the concept of SPIN remote and the need for simplicity. With the ever growing number of “smart” electronic devices and the number of Apps this requires the complexity of controlling these devices will further increase. 


We strongly believe that there is a huge potential for SPIN remote, especially when people can actually see and use the product, recognize the simplicity and share their experience with friends and family. It is our goal to grow sales exponentially, with a total of at least 640.000 units sold in 5 years. This translates to a very realistic market share of at least 5% with SPIN remote alone.


During the last months we have further optimized the design of SPIN remote for mass production and started production of the main components. All the necessary partners are ready to scale up the production of SPIN remote.

Current status

We have several working prototypes which have been used for the Kickstarter campaign and the CES show. Over the last 2 months we have finalized the hardware and started the production of the tooling. The software is currently being optimized and further improved with customer feedback. The first shipment of 40 units for the Beta testers group is scheduled for July 2015 and the complete Kickstarter shipment is scheduled for September 2015.

Planned developments

  • App development: we will add a number of expert mode features to the App which can be purchased per feature. Examples are additional remote control functions, more pre-sets, custom rotation functions, etc.
  • Remote control database: we will explore the possibility to integrate a remote control database into the App to further simplify the setup.
  • TV guide: we will explore the possibility to integrate an optional TV guide into the App.
  • Hub: we will investigate the market need for a custom SPIN remote hub which supports additional communication protocols to control smart devices which are not equipped with Bluetooth smart.
  • Closed cabinet solution: we will further investigate the solutions for behind closed cabinet control.
  • API: we will expose an Application Programming Interface (API), which allows third parties to develop their own applications for SPIN remote.
  • New product: new product line development is scheduled for 2016 with market introduction scheduled for 2017.

Target group

The remote control market can be divided into two main segments: 


Consumer market

From our Kickstarter backers we have learned (from a survey) that our customers are mainly based in Western Europe and the USA and the majority is male. The main drivers to buy a SPIN remote are: the simplicity of combining the main controls into one device (>72%), the stylish design (>49%) and the ability to control smart devices (>39%). More than 90% of the backers is planning to control 3 or more devices which are mainly TV and Audio with a growing need to control smart devices like smart lights and smart thermostats.


Business market

Every electronic device that is equipped with a remote control can be seen as a potential market for SPIN remote. However the products with the highest market penetration like TV,  Home audio and Set-top boxes also have the highest competitive pressure leading to continuously decreasing consumer prices. As a result there is little room left to add a universal remote control as a standard accessory. For these products the price for a remote control is expected to be in the lower area of the basic level. This is different for the higher end products like smart TV’s or high end audio where some of the leading brands are trying to differentiate from their competitors by adding more features to their products including advanced and stylish designed remote controls and/or advanced features like gesture and motion control or touchpads. Current growing markets are smart TV, wireless audio and smart lights.

Market size

For the consumer market we will sell our product, branded as SPIN remote, through online and offline retail channels. To identify the market size we mainly focused on Universal Remote Control (URC) statistics. The URC market is a mature and growing market with an increasing need for smart device control. The total market of yearly purchased URC’s in the US is 15 million (2011, Parks Associates: All rights reserved1) and about 17 million in Europe (derived from Parks Associates1) and can be divided into 3 levels, basic- , mid-range-, and high end (2011, Parks Associates: All rights reserved1). We have positioned SPIN remote in the mid-range level offering advanced features for a competitive pricing. With a total market share of 15% for the mid-range level this translates to a total market potential of 4,8 million URC’s for the EU and US markets. With a forecast of 230.000 SPIN remote’s sold in year 5, this translates to a very realistic market share of 5%. 


For the business market we will sell directly to OEM partners who will use the SPIN remote technology and/or components to add an innovative remote as an accessory or standard equipment to their electronic devices. Current target are smart TV, wireless audio and smart lights which all are expected to grow over the following years:

  • The global TV shipment in 2013 is 225 million2 units of which 76 million3 were smart TV’s. Sales of Smart TVs is forecasted to rise to 268 million units sold in 20184
  • Wireless audio which includes portable speakers, speakers with dock, sound bars, and network audio systems is expected to grow from over 47 million units in 2013 to nearly 61 million by 20185
  • The smart light bulbs market is 2.5 million units in 2013 with an expected increase to 223 million by 2020, achieving a total installed base of over 400 million units6

Competition

Over the last years the URC is getting more competition from other products, especially driven by home automation applications. Alternatives can be found in smartphones or tablets with remote control Apps and hubs. Another alternative can be found in home control devices, like tablet based wall controllers (smart thermostat) or voice control hubs.

Main competitors active in mid-range level Universal Remote Controls:

  • Philips Consumer Electronics: Production of over 80 Mio remotes per year (2013)7.
  • Universal Remote Control, Inc.:100 million remotes supplied in the past 10 years8.
  • Universal Electronics Inc.: UEI has #1 market share in the global remote control market. The company has over 65% market share in universal remotes for US subscription broadcasters and 30% market share globally9. UEI shipped 160 million remote controls in 2012. Their One for All brand name for universal remotes accounted 9,4% of the total net sales in 2013.
  • Logitech: Mainly active in mid-range level and high-end level with a turnover of $ 71M in 2013 for Retail remotes10.

The main remote control App developers are:

  • Peel: Peel was founded in 2009 and has a customer base of 100 mln users (March 201511). Main driver for this growth is the standard installation of Peel on a large amount of Android smart phones, including: HTC, ZTE, TCL and Samsung. These devices all have infrared integrated. For iOs products Peel recently introduced a hub in cooperation with Philips called the Pronto Peel. The App is free to download.
  • iRule: iRule was founded in 2009 and develops remote App for iOs and Android. The App can be downloaded in 2 versions, the basic version for $49,99 and the advanced version for $99,99 (March 201512). iRule also sells hardware to control infrared devices over a network and the internet.
  • Roomie: Roomie remote was founded in 2010 and sells iOs remote Apps and hardware for infrared control.

Current players in home entertainment are Contec, AMX, Crestron and Control4. Relative new players in home control network applications are Nest (bought by Google), Wink, Belkin International (Belkin, Linksys and WeMo), SmartThings (bought by Samsung), Staples connect hub (D-Link product), Homekit from Apple and more.

Customer feedback

During our Kickstarter campaign we have sold over 1.100 SPIN remote’s and received 100 additional pre-order with minimal effort.

Customer feedback

During our Kickstarter campaign we have received a large amount of positive feedback from our backers. At the CES in Las Vegas we were able to demonstrate SPIN remote to a larger group of potential customers who were all very positive about the concept and the control functions.


The next step is to create a number of  feedback loops from our Beta testers. In total we have access to 40 Beta testers from our Kickstarter campaign. This group will receive an early prototype in July 2015. During a period of one month we will generate several feedback loops and software updates. Their feedback will be used to further optimize the SPIN remote software.

New customers

For this year we have forecasted 4.000 new SPIN remote customers and 1 B2B partner with a projected sales of at least 1.000 remotes in 2015.


The forecast of 4.000 SPIN remotes is based on the achieved sales during the Kickstarter campaign. During the Kickstarter campaign we were able to sell over 1.100 units in only 6 weeks without people actually seeing the product or being able to read a review. For the product launch in October we are planning to have numerous online product reviews, first customer feedback (from Kickstarter backers) and marketing tools in place which will have a positive effect on the sales. In the following months we should be able to achieve and exceed the sales numbers of our Kickstarter campaign.


In 2016 we expect to continue and further expand this trend with an average of 1.830 SPIN remotes sold per month leading to a total of 22.000 units sold in 2016. In addition we expect to further increase sales to our B2B partner and continue to develop strategic partnerships leading to a total of 12.000 remotes. In the beginning of 2017 we plan to introduce a second product line which will further increase the number of products sold.

Sales pitch

SPIN remote is the remote control revolutionized. We believe that many of today's applications have become too complex for no apparent reason. That is why we have made it our mission to reduce this complexity and advocate for simple, yet stylish technology.

SPIN remote is for anyone who wants to be in control of their devices, but is frustrated with the ever growing number of buttons, remote controls and Apps this requires. By challenging conventional thinking we have revolutionized the concept of a remote control, what it looks like and how it should work. We have created one remote for all your devices, free of all those buttons you never use.

What has been done before

  • Exceeded our Kickstarter funding goal (114%) with a total of over 1.100 units sold.
  • Registered our trademark and design patent.
  • Filed a provisional patent application.
  • Numerous articles published in national and international press.
  • Built a strong social media presence.
  • Presented SPIN remote at the CES 2015 show in Las Vegas.
  • OEM product definition at advanced stage for first B2B partnership.
  • Advanced talks with various retail channels.

Marketing & sales channels

For the product launch and the further business growth we will use the following marketing communication instruments:

  • Website, www.spinremote.com with an integrated pre-order system and in a later stage a webshop to collect orders;
  • Targeted online marketing using an online tool on our website to promote social sharing and collect email addresses of potential customers. During the product launch and business growth we will use targeted Facebook and Google ads;
  • A media promotion plan to create media attention with press releases and articles for both online and offline tech-, lifestyle-, gadget-, audio- websites, blogs, magazines and newspapers;
  • We will give away a number of SPIN remote’s for product reviews with some of the leading tech and gadget blogs;
  • Attend the leading consumer electronic tradeshows.

In order to sell SPIN remote directly to consumers we will use a mix of our own website and online and offline retail channels. For the business market we will directly target and contact potential business partners.

The targeted consumer retail price for SPIN remote is EUR 99,- and for business market the pricing depends on the number of features offered.

Marketing objective

The main objective is to create a marketing momentum during the Kickstarter shipment in September. We will carefully plan and manage the product launch to make sure we can get maximum exposure for SPIN remote and start shipments in October.

Partnerships

At this moment we have a large online retail channel for smart phones accessories and gadgets lined up to include SPIN remote to their list in Q4 2015. For the business market we are in an advanced stage of product definition with forecasted sales in Q4 2015.

Turnover so far

During our Kickstarter campaign we were able to raise €114.289 (114% of our goal) in 42 days.

Projected turnover

  • In year 1 (2015) we have forecasted an additional sales of 4.000 units over 3 months and in addition 1.000 units B2B sales. The result in a turnover of € 373.000 (Kickstarter turnover included).
  • In year 2 (2016) we have forecasted additional sales of 22.000 units over 12 months and in addition 12.000 units B2B sales. The result is a turnover of € 1.780.000.
  • In year 3 (2017) we have forecasted a further growth toward 50.000 units over 12 months and an additional 30.000 units in B2B sales. The result is a turnover of € 4.149.000.

Assumptions

The forecasted turnover is based on the selling price of a SPIN remote minus 21% VAT and minus retail margins. Because we are planning to sell SPIN remote via different channels we have made an assumption of the average retail margin per product of 25% which is a mix between online and offline retail margins.


The forecasted turnover for the business market is based on an average sales price of € 99 minus 21% VAT and minus retail margins. We expect to sell these products mainly at offline sales channels which leads to a higher retail margin of 35%.


The forecasted profit is based on the current cost price of a SPIN remote which is calculated in dollars. Due to the heavily fluctuating Euro the nett profit per sold SPIN remote might vary a little. When the exchange rate of the Euro is further going to decline we might need to adjust the retail price.

Invested so far

In order to develop our first prototypes, register the product and the company and prepare and manage our Kickstarter campaign we have invested € 30.000 of which € 20.000 is private money and the other € 10.000 is part of a personal loan agreement.

Investment requirement

The main goal of this crowdfunding campaign is to raise funds for our product launch and further business growth. The total investment required is € 130.000. In return we will offer a 7% share in our business.

Purpose of investment

The main goal is to successfully launch SPIN remote to the market and accomplish a growing cash flow. For this launch and for the further business growth we have foreseen the following investments:


Marketing communication instruments:

  • Website, www.spinremote.com with an integrated webshop to collect orders;
  • Targeted online marketing using Facebook and Google ads;
  • A media promotion plan to create media attention with press releases and articles for both online and offline tech-, lifestyle-, gadget-, audio- websites, blogs, magazines and newspapers;
  • Targeted advertisements, leaflets and giveaways for product reviews at some of the leading tech and gadget blogs;
  • Attend the leading consumer electronics tradeshows in Berlin (IFA) for B2B meetings with potential partners.

Additional staff and limited overhead to cover our standard business procedures:

  • iOs / Android App developer; implement user feedback and further improve user interface;
  • Office expenses and minimum management fee to bridge product launch phase.

New tooling for parts production:

  • Production of new molds required for mass production.

Patent:

  • File international patent application under the PCT.

Minimum stock of SPIN remotes:

  • In order to guarantee short lead times for new product orders we need to have a minimum stock available.

Return

In return for the € 130.000 investment we offer a 7% share in our business. With your investment (starting at € 20,-) you will become a member of the new investment cooperative. As a member you will receive regular updates on the company’s performance and you have a voting-right with important decisions. By becoming an investor you will receive a share in SPIN remote, based on the amount invested. In return you can profit from the increased value of your share with a projected return on investment between 500 and 800% in 3-5 years.


We strive to increase the value of the company up to 500-800% in a period of 3-5 years. We will offer an exit opportunity by either a strategic acquisition or a buy-back of the shares by the founders. As an investor you will profit from future growth in the value of the company. When a strategic acquisition occurs you will get a return based on your share and the actual value of the company at that time. When this does not occur in the first 5 years we will define a proposal to buy-back the shares.  When the value is more than 500% the founders will have the right to buy-back the shares from the investment cooperative.


More details can be found in the attached shareholder agreement term sheet.

Risks

At SPIN remote we believe in first time right. We only have one chance to successfully launch SPIN remote to the market and we will do everything we can to make it perfect.


That is why we highly valuate customer feedback during the product development stage. As a result we have created a group of 40 enthusiastic beta testers who will receive a first prototype in July. With this group we will evaluate the most important product features resulting in a number of software upgrades and feedback loops. There is a risk that these feedback loops will result in additional hard- and/or software changes. While we have already included additional timing in our schedule and gathered important feedback from our Alpha testers there is always a risk that this might influence our product launch timing.


CE and FCC certification is part of our development process. While we have good experience with these certification requirements there is always a risk that these requirements are not met the first time. This may lead to hardware and software changes which might influence our product launch timing.


Resources:

1. Parks Associates: Aftermarket Entertainment: Universal Remote Controllers (Third Edition published in 2011)
2. http://press.ihs.com/press-release/global-tv-market-contracts-second-straight-year-2013-china-asia-pacific-and-eastern-eu
3. http://www.strategyanalytics.com
4. http://www.businesswire.com/news/home/20141201005167/en/Analyst-Firm-Predicts-Total-Home-Entertainment-Device#.VO7j0vmG8a0
5. https://www.abiresearch.com/press/portable-speakers-powering-the-digital-speaker-mar
6. https://www.abiresearch.com/press/residential-smart-light-bulb-market-to-approach-a-
7. http://www.philips.com/philips/shared/assets/Investor_relations/pdf/PhilipsFullAnnualReport2013_English.pdf
8. http://www.universalremote.com/
9. http://www.uei.com/about/investor-relations
10. http://ir.logitech.com/annuals.cfm
11. http://peel.com/content/peel-expands-smart-home-control-0
12. http://www.iruleathome.com/