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111 <br /> Products (cont.) <br /> In addition to the main system,the Fishcam product line may include additional accessories <br /> to make it even more adaptable and appealing to its targeted market while generating <br /> additional sales from established customers. <br /> With this product a sport fisherman will have the ability to remotely: <br /> 1. Identify desired species in"hot spots" <br /> 2. Estimate population density and average size in locations of interest <br /> 3. Examine aquatic life in natural habitats <br /> 4. Study lure performance in the water <br /> 5. Explore underwater structure and topography <br /> 6. Study game behavior <br /> 7. Keep a record of excursions <br /> 8. Locate items of interest <br /> 9. Have even more fun with their sport <br /> Though higher cost underwater vision systems can be found, a low cost alternative <br /> developed exclusively for fishing has not been introduced to the large sport fishing market. <br /> Our preliminary market research in this market has indicated that there is a great deal of <br /> interest in such a product. Fishcam would fulfill this need as early as Spring of 1998. <br /> Through the development of Fishcam,there is a planned redesign of the underwater circuit <br /> board camera enclosure. This enclosure will be designed for high volume production to <br /> accommodate the sales generated by the addition of the large sport fishing market, and to <br /> reduce unit cost. Market research suggests that the sport fishing market can support sales <br /> volumes high enough to justify injection molding, which is the most cost effective method <br /> of producing this part. This camera assembly will also replace the one currently used in the <br /> Watercam product such that it can also benefit from the cost reduction. Currently, it costs <br /> $200 dollars to have the circuit board potted, when an injection molded inclosure will cost <br /> less than$20. <br /> Watermark is currently investigating the feasibility of patenting the use of an injection <br /> molded enclosure for the purpose of video camera submersion. Such a patent could prevent <br /> competition from producing a submersible camera as cost effectively. This is just one <br /> patent option of many that could be used to hinder competitors. <br /> Our objective is to price this product below$1,000 US dollars. The initial profit margin <br /> will be near 50%. Anticipated first year sales will be 1,000 units, as estimated by industry <br /> insiders. Upon market acceptance,volumes near 10,000 units per year are anticipated based <br /> on the performance of existing, similarly priced, electronic products in the sport fishing <br /> industry. <br /> 6 <br />