Joseph Bochicchio
Charlotte, NC (USA)
Role(s):
Founder/Owner/Principal
Joseph M. Bochicchio, PLLC
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Startup
Location:
Charlotte
Industry:
Other
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Limited Liability Company
Description:
I am a structured finance/bankruptcy lawyer and former 16 year commercial banker. MBA, heavy finance, law, etc. I also have experience running a Misissippi-east division for PNC bank, and built a tech company from scratch to 100+ investors, 30+ employees and operated in 34 states.
I am now seeking an investor to join me in marketing and developing a gun magazine for rifle and pistol applications. A provisional patent application has been filed and I am beginning to speak with manufacturers about production/royalties. The benefits include rapid reloading all conatined within a standard gun magazine. The product allows a solider/law enforcement/hobbyists, and recreational shooters to reload without the cumbersome process. If you own rifles or pistols and have reloaded your magazine, the benefit is quite obvious, and it works much better than the current ammo loading assist devices on the market, which dont tend to work well, and are just another piece of equipment to have to lug around.
I am a lawyer, and have successfully launched and run "patent based" companies, and I know the ins and outs. I am looking for a $500,000 commitment for prototype manufacture and working capital for the balance to meet with manufacturers to do the pitch on a royalty arrangement. Terms of the investment to be negotiated. Alternatively, I can have the product manufactured under contract and the develop the business and build the market. There arent good statistics for number of existing AR magazines currently in circulation,but I believe the potential market is about 30 million units, and I believe with a penetration of 10% of the market and a $6.00 net per apparatus, it is a lucrative market domestically,without considering international sales.