MobileSpike Technologies Uses Equity Crowdfunding for Tech That Ends High Speed Chases
By Business Wire News
By Business Wire News
MobileSpike Technologies Inc., a life-saving law enforcement technology company, is launching an equity crowdfunding campaign to fund the production of their patented tire-deflation-stick technology. The MobileSpike is mounted on the front of police vehicles and allows police to disable fleeing vehicles with the push of a button. Law enforcement can quickly terminate a pursuit using the retractable tire spiking technology at speeds of 15-120 miles per hour. This innovation will save lives of police, suspects and innocent bystanders.
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MobileSpike vehicle disablement device deployed on a police cruiser during product beta testing. (Photo: Business Wire)
Police are currently using a manually deployed spike strip to disable fleeing vehicles which was invented in the 1940s. This manual spike strip requires a police officer to exit the vehicle and throw the spike strip in the road ahead of a fleeing suspect. Law enforcement also uses a precision immobilization technique called a PIT maneuver, by which a pursuing officer can bump the rear corner of a fleeing vehicle, causing the driver to lose control and stop. However, both methods are a danger to law enforcement, fleeing suspects and innocent by-standers. In 2013 there were 322 deaths from high speed chases according to a USA Today analysis of the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) records. Nearly half of these fatalities each year are innocent bystanders.
The 2012 American JOBS Act changed how startup companies can raise money. After an extended SEC rulemaking process, as of May 16th, 2016, companies can now sell equity to non-accredited investors using crowdfunding platforms. Prior to now, companies could only use cloud funding to offer rewards or other benefits; Equity investment was prohibited.
Companies can now use crowd platforms to sell equity – allowing non-accredited investors to invest in startups in exchange for shares. Companies can raise up to $1 million from non-accredited investors via crowdfunding. MobileSpike Technologies is using the www.Flashfunders.com platform to raise up to $1.8 million from both accredited and non-accredited investors.
The business case for a MobileSpike Technologies investment is easy to understand. The patented product will save lives. The devices have been tested in seven states to measure efficacy in varying climates and terrains. 90% of agencies involved in the beta tests ordered additional units. There are more than 16,000 law enforcement agencies and over 400,000 police vehicles in the United States. MobileSpike has profit margins of more than 50% on each device.
MobileSpike’s business strategy is to sell 9,000 units and position the company for a sale to another technology company. Capital raised through equity crowdfunding will be used to fund operations and produce the first batch of inventory. MobileSpike is raising up to the maximum $1 million in equity crowdfunding through www.Flashfunders.com, as well as additional funding from accredited investors. MobileSpike Technologies is a Delaware company with operations in Washington State. Interested investors can learn more about MobileSpike and see videos demonstrating the technology at www.InvestInMobileSpike.com.
CMO Strategy Group
Tim Priest, 503-713-3212