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• <br /> • <br /> 11)11) <br /> WATERMARKCORPORATION '•.• <br /> STATEMENT OF PURPOSE <br /> for <br /> Watermark Corporation Item #7. <br /> Waterevenrmarkue. Corporation designs, manufactures, and sells underwater video equipment. The <br /> company currently sells product to swim trainers and would like to expand into the <br /> Sportfishing Market,because of the sales potential of this 22.7 million person market. <br /> Research indicates that a remote underwater video system would be desirable to sport <br /> fishermen in the $1000 U.S. dollar price range. <br /> Watermark is currently seeking equity funding in the amount of$0.5 million, representing <br /> approximately a 33%ownership position in the company. Eighty percent of pre-tax net <br /> income will be distributed to the share holders as dividends. <br /> The proceeds will be used to fund three phases in the next 18 months. Phase I,Product <br /> Development, will include 10 prototypes and all documentation necessary to manufacture <br /> the product. Phase II,Product Introduction,will produce inventory and marketing to <br /> generate market awareness and sales. Phase III, Transition to High Volume, will <br /> concentrate on increasing sales by additional advertising and penetration of new markets. <br /> Research on new features and products will commence in Phase III and are funded by sales <br />