*Documents filed with the Securities and Exchange Commission.
PogoTec seeks to transform the way consumers capture and share images and videos from their surroundings, by innovating interactive, sophisticated and accessible technology solutions that unobtrusively enhance consumers’ daily lives. As the smartphone and the selfie camera innovated photography, its first product, PogoCam, offers a new medium of photography with unique technological and design advantages. PogoCam is an ultra-compact, wearable camera that allows users to capture photos and high definition (HD) video with audio from their point of view without having to fumble for a phone or wear large, unsightly cameras attached to equally unsightly headgear. PogoCam allows consumers to experience the moment instead of missing out by staring at their screens.
PogoCam is always at the ready when a consumer wants to use it, but can be easily detached and stored for times when a camera is not needed or appropriate. PogoCam is attachable to virtually all eyewear via PogoLoop or PogoTrack accessories. Unlike other wearable cameras, PogoTec’s product is designed to maintain personal preferences, allowing a consumer to choose virtually any fashion of eyewear that suits their own particular style. As such, PogoCam is well positioned to compete in today’s red-hot image capture market. InfoTrends estimates that 1.2 trillion digital photos will be taken worldwide in 2017, which is 100 billion more photos than were taken in 2016.
PogoTec has been able to secure a granted US patent relevant to its PogoTrack platform that allows PogoCam and over 100 other electronics devices to attach and detach magnetically to eyewear having a PogoTrack. The Company has presently initially licensed PogoTrack to three global frame manufacturers, namely, ClearVision Optical, FGX International and Argus Vision. PogoTec anticipates licensing other frame manufacturers and device manufacturers in 2018 in order to develop PogoTrack as a proprietary platform on eyewear. The Company plans to leverage its PogoTrack platform for future product offerings, including a second generation PogoCam and a consumer-focused augmented reality system that is under development.
PogoCam has already received positive industry recognition. It won first place in the wearables category in the IHS Markit Innovation Awards at CES 2017 and was the subject of the 2017 Gold Stevie award for New Product or Service Introduction of the Year. PogoCam was featured on the NBC Today Show and recognized as one of five technology products to follow in 2017 and has been mentioned in articles appearing in dozens of global media publications. The Company launched PogoCam on November 16, 2017. As of January 31, 2018, it has shipped approximately $814,000 worth of products, or sold over 6,000 units of PogoCam. Of the approximately 6,000 units of PogoCam shipped as of January 31, 2018, approximately 4,500 units were sold through its ecommerce site and Amazon.com, 1,360 units were shipped through its optical retail and eyecare professionals channel partner, ClearVision Optical, and 200 units were shipped to Ritz Camera, a big box and specialty retailer. In 2018, PogoTec anticipates further expanding the verticals through which PogoCam will be sold to include traditional brick and mortar retail locations, other big box retailers, and more optical shops and specialty stores in the U.S. PogoTec also anticipates selling PogoCam in Europe through its ecommerce site and at retail locations, and also selling PogoCam through Alibaba.com in China.
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