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Last night I got to bed at 12:15AM, the night before, and the night before that it was 2:15AM (I'm sure Bill was still wide awake : ) ). I've been up to my eyeballs in research and development, materials testing, lab analysis reports, trademark and licensing issues, web site development, as well as fielding dozens of questions from OEM manufacturers, distributors and suppliers.
For those that don't already know, I have recently decided to put forth a significant investment towards the development of body armor, specifically back and chest protectors (at least for now). Hip armor will follow soon. URL and trademark filings have been completed and we have chosen the name RHINO Body Armor. Armadillo was scrubbed after we got feedback from the mid-west that armadillos don't stand up well to cars...basically they get mushed and stink, so we didn't want to be known as road kill armor. lol. Rhino's are tough, durable, pretty indestructible and project a positive mental image of protection.
Product development is progressing as well as can be expected. Substrate selection has been completed and my influence and skillful negotiating prevailed since we will be able to deal directly with the manufacturer on our substrate rather than having to deal with a distributor. This way reformulations and sheet splitting can be handled quickly. In fact, they will even help us line up fabrication and full product manufacturing assembly if need be. Before I do that we'll need substantial demand.
Polycarbonate selection was a bit involvolved. Several issues with impact testing specifically polycarb thickness relative to substrate density, fabrication and color selection. A few more tests were required and a final selection was made several days ago. Selection of an elastic manufacturer who will supply a tri-woven elastic (basically the best available) for a detachable waist belt. (This company manufactures the woven surgical elastic for Ortho knee, elbow, wrist braces). The back protector is being designed with removable waist and shoulder suspender belts. The chest protector will also feature a removable attachment belt. Hook and loop attachment testing is still being conducted as are extensive tests relative to adhesives. I have a development team (actually 2 of them) working out issues regarding plasticizer migration (technical term for chemical reaction that happens to various adhesives). 3M has several technical people sleeping on the tape / adhesive situation since we are bonding polycarb to a complex substrate. There were visual issues which made the polycarb selection difficult, but those have been resolved. Label samples have been ordered and so we are down to choice of 4 possible selections, although leaning towards one of 2. It's amazing how many choices there are when it comes to something as simple as a label.
I briefly contemplated considering a financing/merger with another armor company but there are a number of reasons why this does not seem to make sense, namely, product turnover and customer loyalty which would greatly skew book value determination -- not in our favor. Plus, book valuations are indeterminate, leaving no basis for exit strategy values. Complex, but pretty much that was my world before semi-retirement.
Anyway, that's the update as of now. I'll keep you posted as we progress.