|1||On average, a company loses more than $14,000 for every job that stays vacant for three months or longer? - CareerBuilder|
|2||Mfg must contend with one of the tightest labor markets where the number of open jobs exceeds the number of skilled people -Deloitte|
|3||Vidoni™ motion captures a Mfg instructors hands for playback in Vidoni hands-on skills training increasing retention for greater ROI.|
|4||Our customers eg. Shiavone Construction distribute Vidoni 3D hands-on modeling so experts can spend more time on projects.|
|5||Vidoni™ took 2nd Place at Collision 2018 AI and Machine Learning Demo and Competition.|
|6||Agnostic tech for headset partners - Microsoft, Trimble, DAQRI and ThirdEye.” Partnered with Airspeed Equity saving approx. 80% in dev cost.|
|7||The planned Vidoni™ Studio SaaS platform with scale-able user content-creation lessons will teach skills for both B2B & B2C.|
|8||Simple just wear a mixed reality headset. View and copy the hand movement of a expert. Edit, get real-time hands-on and learn faster.|
Being a continued learner in my professional and personal life, I have always found current learning processes to be out-dated and time consuming. Not having the time or patience for traditional learning I reached out into my past for a learning experience that was highly successful.
I learned to play guitar in just 6 months by having a focused plan with an open minded guitar teacher that allowed me to have a highly visual instruction of guitar playing. That experience truly resonated with me as I explored visually better ways to learn using 3D visualization. After years of of applying visual tools for building design workflows and training I felt augmented reality had the greatest potential to change the way we learn.
We filed for a patent and we were off to the races! We then began by building a prototype for creating the first ever process that would record the hands of a expert like my guitar teacher or in the case of a business a manufacturing line expert. This hands-on training could be played back for instruction in AR. The student would visually see the teachers playing hand on the guitar neck or the manufacturing instructors hands in the work-space.
This creates a more visual learning that most people need to learn faster. It also creates muscle memory. Learning retention goes through the rough when these processes are used.
When it was all said and done we soon realized there was something special here and Vidoni was born!!
- Ken D'Amato, Co-Founder, Inventor and CEO
Vidoni, Inc. has financial statements ending July 25 2019. Our cash in hand is $2,600, as of August 2019. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $3,600/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We have a patent pending tech for creating a motion captured instructors hands in mixed reality training for viewing by a trainee. The student will look through a augmented/mixed reality headset and see the hand movement of the teacher to learn how-to-do by hands-on training.
We hope to be the YouTube of mixed reality training, with over $100M in yearly revenue.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Vidoni, Inc. was incorporated in the State of Delaware in November 2017.
Since then, we have:
Historical Results of Operations
Liquidity & Capital Resources
To-date, the company has been financed with $141,107 in SAFEs and $25,000 in debt.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 3 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 1 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Vidoni, Inc. cash in hand is $2,600, as of August 2019. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $3,600/month, for an average burn rate of $3,600 per month. Our intent is to be profitable in 6 months.
We are working on getting 3-6 pilot programs for our software. Right now we are focused on raising capital. In six months, assuming we are able to get our pilot programs running, we expect monthly revenues to be about $25k and monthly expenses to be about $50k.
The company requires $500k to get to it's next stage of growth (an MVP). We have other sources of capital to rely on (angel investors, traditional investors) in lieu of a successful Wefunder raise.
From time to time, third parties may claim that one or more of our products or services infringe their intellectual property rights.
Recruiting and retaining highly qualified personnel is critical to our success. These demands may require us to hire additional personnel and will require our existing management personnel to develop additional expertise. We face intense competition for personnel. The failure to attract and retain personnel or to develop such expertise could delay or halt the development and commercialization of our product candidates. If we experience difficulties in hiring and retaining personnel in key positions, we could suffer from delays in product development, loss of customers and sales and diversion of management resources, which could adversely affect operating results. Our consultants and advisors may be employed by third parties and may have commitments under consulting or advisory contracts with third parties that may limit their availability to us.
We depend on a few major clients/customers for a substantial portion of our net sales.
For example, during fiscal year ended December 2018, JT Megan accounted for a majority of our net sales, respectively. The loss of all or a substantial portion of our sales to any of our large-volume customers could have a material adverse effect on our financial condition and results of operations by reducing cash flows and our ability to spread costs over a larger revenue base. In addition, our largest customers have an increased ability to influence pricing and other contract terms. Although we strive to broaden and diversify our customer base, a significant portion of our revenue is derived from a relatively small number of customers. Consequently, a significant loss of business from, or adverse performance by, our major customers, may have a material adverse effect on our financial condition, results of operations and cash flows. Similarly, the renegotiation of major customer contracts may also have an adverse effect on our financial results. We are also subject to credit risk associated with our customer concentration. If one or more of our largest customers were to become bankrupt, insolvent or otherwise were unable to pay for services provided, we may incur significant write-offs of accounts receivable or incur lease or asset-impairment charges that may have a material adverse effect on our financial condition, results of operations or cash flows.
Any disruption in our information systems could disrupt our operations and would be adverse to our business and results of operations.
The potential impact of failing to deliver products on time could increase the cost of our products.
In most instances, we guarantee that we will deliver a product by a scheduled date. If we subsequently fail to deliver the product as scheduled, we may be held responsible for cost impacts and/or other damages resulting from any delay. To the extent that these failures to deliver occur, the total damages for which we could be liable could significantly increase the cost of the products; as such, we could experience reduced profits or, in some cases, a loss for that contract. Additionally, failure to deliver products on time could result in damage to customer relationships, the potential loss of customers, and reputational damage which could impair our ability to attract new customers.
We have not prepared any audited financial statements.
Our operating results may fluctuate due to factors that are difficult to forecast and not within our control.
We are subject to rapid technological change and dependence on new product development.
Our industry is characterized by rapid and significant technological developments, frequent new product introductions and enhancements, continually evolving business expectations and swift changes. To compete effectively in such markets, we must continually improve and enhance our products and services and develop new technologies and services that incorporate technological advances, satisfy increasing customer expectations and compete effectively on the basis of performance and price. Our success will also depend substantially upon our ability to anticipate, and to adapt our products and services to our collaborative partner’s preferences. There can be no assurance that technological developments will not render some of our products and services obsolete, or that we will be able to respond with improved or new products, services, and technology that satisfy evolving customers’ expectations. Failure to acquire, develop or introduce new products, services, and enhancements in a timely manner could have an adverse effect on our business and results of operations. Also, to the extent one or more of our competitors introduces products and services that better address a customer’s needs, our business would be adversely affected.
We depend on profitable royalty-bearing licenses of our technology, and if we are unable to maintain and generate such license agreements, then we may not be able to sustain existing levels of revenue or increase revenue.
We depend upon the identification, investment in and license of new patents for our revenues. If we are unable to maintain such license agreements and to continue to develop new license arrangements, then we may not have the resources to identify new technology-based opportunities for future patents and inventions in order to maintain sustainable revenue and growth.
We must acquire or develop new products, evolve existing ones, address any defects or errors, and adapt to technology change.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Michal Such, our former Chief Technology Officer, has left the Company to pursue other interests, The Company has recruited a suitable replacement to ensure the continued development of our software.
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