"The patent is a financially demanding matter and therefore we protected our solution at the Industrial Property Office by protecting the industrial design under no. PÚV 219-2017 filed on 13.10.2017. This is a so-called small patent. We had two years to apply for proper patent protection. However, we did not use this option for several reasons. One of them is the very fact that the device is constantly being innovated and we still do not feel that we are in the final version. The second reason is that our former employee is asserting patent claims, which will probably be a lawsuit, and to date we have no idea how it will turn out. Unfortunately, this is the reality. The third reason is the financial complexity of the whole process.
Therefore, our plan is to patent our ""new"" unquestionable solution as soon as the results of the impact on the queen bee are evaluated, so that we have 100 percent certainty that we are paying for something that will pay us back as an investment. The assumption of this step is for the year 2022.
The company's total project costs for the last three years are EUR 100,000. It is planned to complete research, testing, licensing and patent certificates in the next two years. The cost of this phase is estimated at EUR 150 000. Production documentation and start of production will be very expensive. The company will need external financial resources in the form of a loan or an investor who will enter the company. The company will work on both variants. The expected start of production is 2022. For the years 2022 to 2024, the planned sales volumes of FOG are gradually 5,000 pieces, 10,000 pieces, 20,000 pieces.
Cashflow forecast:
Costs Sales Cashflow
Previous period 175.000 0 -175.000
2020 75.000 0 -250.000
2021 75.000 0 -325.000
2022 1.000.000 1.500.000 +175.000
2023 2.000.000 3.000.000 +1.175.000
2024 4.000.000 6.000.000 +3.175.000"