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The Smart Mirror, a sophisticated product that seems to come straight out of a science fiction movie. It is the newest gadget for a potential product line of Capstone Companies, Inc. (OTC: CAPC), who focuses on designing, manufacturing and selling a variety of technological innovations that respond conveniently to the everyday needs of customers worldwide. Capstone wants to establish the primary product line for 2021 with the Smart Mirror, where the company was previously mainly known for its traditional LED lighting.
With the Smart Mirror, Capstone has a more exciting and highly characteristic product that has a lot of potential in the residential market and is seen as an affordable interactive device that will make use of the internet. Due to the company’s rich history with other technological innovations, this new product line already seems to be able to count on a lot of confidence and interest. The credit line underlines the confidence of the management in the near future.
Thanks to digitization, the consumer demand for technological products has increased significantly in recent years. This is an era where everyone uses social media and the internet on a daily basis. The United States has one of the largest smartphone markets in the world, which in 2017 already amounted to more than 220 million daily smartphone users. Add to that the estimated 110 million homes with fixed broadband subscriptions, and Capstone’s potential market looks gigantic. If less than 1% of these households will purchase a Smart Mirror, this equates to more than 1 million product purchases.
The credit line shows an increasing confidence at Capstone
In January 2021, Capstone announced that CEO Stewart Wallach and director Jeffrey Postal had provided an unsecured line of credit of $750,000 in working capital to the company. A simple annual interest of 1% is accrued in interest on the money advanced under this loan. Principal and accrued interest are due in a single balloon payment currently due June 30, 2021 – with possible extension to December 31, 2021. Wallach and Postal both currently own more than 19% of the issued common stock of the company.
The new product line will be rolled out further this year as a new (primary) source of income. Capstone expects to periodically require the operating overhead working capital credit line. Over the decades, Capstone’s recognized products have been sold through several well-known chain stores. These are names most of us are familiar with: Costco, Home Depot, Lowes, Office Depot, Sam’s Club, Target and Walmart. It would be a great development if the Smart Mirror will soon be available at these chain stores.
For more information, please visit the Capstone website:
https://capstonecompaniesinc.com/
Or follow the new Capstone Twitter account:
https://twitter.com/CAPC_Capstone
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