The Module Project is a Title III - Regulation Crowdfunding Campaign and is actively accepting investments.
$500.00 minimum investment

The Module Project

Long life, upgradeable tech products.

Small OPO
Newark, DE
Consumer Products
Accepting International Investment
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Longer lasting technology products. Upgradeable. Repairable. Recyclable.

Invest in MODULE

Why Did We Create MODULE?


Because our beautiful planet needs protection. We believe a majority of current consumer technology manufacturers are disrespecting their customers and the planet we all call home. Drastic change is needed. Module wants to lead that change. In our view, a vast proportion of current consumer technology products are designed with intentionally short lifespans. This practice is causing irreparable damage. We maintain that these products fail too soon. That they are difficult and expensive to repair. They are impossible to upgrade. Our research suggests they are seldom recycled correctly at end of service. These products contain many rare-earth minerals. Extraction of these minerals is extremely destructive, as are the energy-intensive manufacturing processes required to turn them into usable products. These products could, and should be designed to last longer.

 

So Why Aren’t They?

 

We've concluded that there can only be one, very simple reason. That reason? That for many companies, selling you a new version of the same product as rapidly as possible is their business model. It would follow that these companies pay little regard to the negative environmental impact of their behavior. It’s profit at almost any cost. This outdated approach needs to end.

 

Enter Module.

 

Module intends to create the longest lasting technology products yet created. These products will adhere to our three main company principles.

 

Upgradeability, repairability and recyclability.

 

Upgradeability allows our customers to upgrade components of any Module product themselves.

 

Repairability allows the owner of the product, or a service agent to quickly and easily repair any fault.

 

Modular design and meticulous material selection allow far greater recyclability at end of service. 

 

We genuinely believe this ethical and logical approach is the future of product design. Virtually all technology products can be manufactured in this modular manner.  We have early stage concepts in various categories. These range from consumer technology and home appliance to transport and beyond.

 

We aim to continue this ethical design process across all aspects of the company as we grow. Eventually, the goal is for this to include innovative new manufacturing processes and superior streamlined recycling.

 

Ultimately, our goal is to grow Module into the global leader in long-life consumer technology products. Eventually, we aim to control the entire process of manufacturing a Module technology product, from the ethical extraction of raw materials to highly efficient end of service recycling. Beyond this, our goal is to use Module's influence, reach and revenue to further protect our beautiful planet.


- Ketzal Sterling, Module Founder

Images above from top: Decibel V3 3D render, Decibel V3 physical prototype, Decibel V3 "exploded" 3D render, Decibel V3 3D render with front grille, Decibel V3 physical prototype in hand (Co-founder, Vince Lovrich).

Facts are important. 

To see references, studies etc for statements made please check the "Market size, statistics and forecasts" section a little further down. - Module Team.


The Offer

Revenue share 

 

Your investment will be returned from an 8% share of Module's future revenue. 

The return will be your initial investment multiplied by three and a half times (3.5x).

 

Returns

 

The first $107,000 invested = 3.5x return

 

Minimum investment amount - $500

 

Perks*

Invest $1,000 or over and you will receive a limited edition, numbered Decibel*.

 

*Limited edition Decibels will be delivered  from the initial manufacturing run. All perks occur after the offering is completed.



"We are implementing modularity in a way which presents the possibility that a Module customer could own a single Decibel unit for their entire life."

- Ketzal Sterling. 

The Opportunity

Is a New Phone Worth Destroying Our Planet?

In our view far too few technology companies show enough respect to the environment or their customers. We believe the devices they produce need replacing far too frequently. Devices that are difficult and costly to repair and impossible to legitimately upgrade. 

 

This means millions of tons of technology products (e-waste) go to landfill every year. This is destructive to the environment and expensive for consumers. There is a large and growing market of conscious consumers looking for more sustainable alternatives.

 

A recent Neilsen global survey found that 66% of consumers are willing to pay more for sustainable brands. Currently, there are no viable options in the projected $8.5 billion mobile wireless speaker market for these consumers.

Who We Are and What We Do

Module is a consumer product design and manufacturing business. Our intention is to select current consumer products and completely re-engineer them. All Module products will adhere to the three company principles; upgradeability, repairability and recyclability. Module also intends to create completely original consumer technology products.

 

Module products are game-changing for our customers. No longer will they be forced into ridiculously fast product replacement cycles. When a component needs an upgrade or repair it is simply, economically replaced by the user with an up-to-date component. The replaced component is returned to Module for recycling. 

 

These design parameters are effective for virtually every technology product, be it an electric kettle or a motor scooter. We foresee a change in the consumer market. We believe that the market will continue to shift toward a more sustainable model. There will be significantly fewer options. These will be modular designs with vastly longer service lives. 

 

We believe change will come from increasing government restrictions and more importantly, from consumer demand. A new international study by Unilever reveals that a third of consumers (33%) are now choosing to buy from brands they believe are doing social or environmental good. Sweden has recently joined the growing group of countries legislating electronics recycling. Sweden now requires retailers selling electronic goods to accept the same quantity for reuse or recycling. We see this as just the beginning of governmental intervention. This is a change which has already begun, both in government and in society. Collectively, we simply must move to drastically less harmful consumer products. 

 

Module intends to accelerate this process.

 

We are reading the market and attempting to preempt future legislation. We predict manufacturers will be required, at a minimum, to take more responsibility for the recycling of their products. Our modular design and increased recyclability keeps us at the cutting edge of sustainable manufacture.


What We Have Already Accomplished

  • Module have developed what we believe to be a logical, achievable, profitable business. Based around reducing environmental damage by manufacturing longer life technology products.

  • Module has attracted growing interest from international distributors and recognizable electronics retail chains

  • We believe we've designed measurably the best product in its category. Our goal is to replicate the process in numerous other categories

  • Module's first product, Decibel is already showing extremely positive results from current acoustic and physical prototyping. 

  • Decibel has access to a large, growing market, projected to be $8.5 billion.

  • Output a V3 mechanical prototype which is performing to specification

  • Early audio testbed outperforming rival products in its category.

  • A strong, active social media following, with over 15,000 followers across multiple platforms. 

  • Growing email subscription list of passionate fans.

  • The New Zealand parent company raised nearly $NZ300,000 via small, locally focused equity crowdfunding rounds.

Images: Above left: Decibel V3 prototype. Right, top to bottom: 3D render of Decibel components, Decibel V3 physical prototype chassis and shell raw aluminum, Decibel V3 physical prototype components (driver cage, chassis with drivers, shell with passive radiator)


Module Products

Modularity for Longevity

Our products are designed to be modular. However, unlike a majority of modular products ours is for the purpose of longevity, not the addition of extra, often pointless accessories. This means the end user can easily and economically upgrade or repair their Module product. 

 

Upgrades could be performance improvements on existing components, or completely new technologies. The decision to upgrade will always be the users choice. They will not be requirements. Upgrades will not be incremental iterations. They will only be offered when there are significant improvements.

 

Module products, beginning with Decibel are a complete re-imagining of what we believe consumer products should be. 

 

Decibel's Modularity

 

Every major part of Decibel is modular and user replaceable. A supplied, standard-size Allen key is all that is needed to disassemble Decibel. 

 

When a customer wants to upgrade a part or replace a component that has reached its end of service, they simply order or pick up the required part and quickly replace it.

 

This process is incredibly simple. No technical knowledge is required. Most people will easily follow the simple instructions and complete the repair or upgrade themselves. If a customer is unable to do so, it is our intention that trained staff will efficiently execute the repair at a retail location. With virtually no waiting, no leaving your device, we will attempt to complete the job immediately.

 

Modular design allows us and the end user to keep pace with advancing technology. For example, when superior battery technology is developed it will become the new standard specification shipping with Decibel units. Equally exciting, an existing user can simply purchase a new battery and upgrade the performance of their Decibel. Matching it to current specification without purchasing a whole new device. This theme extends across every major component of Decibel.

 

Modularity presents the possibility of a user owning a single Decibel unit for the rest of their lives.


Products

Decibel

Module’s first product is a mobile wireless speaker. It's called Decibel. Decibel is a portable Bluetooth speaker of impeccable quality. Decibel will prove Module's design concept. Decibel demonstrates how well the Module ethos can be applied to traditional consumer products.

 

Decibel’s target retail price is US$195 which is on par with popular, successful products in the market. Every aspect of Decibel’s unique modular design is intentional. We expect Decibel to match or exceed competitors in conventional metrics, including overall performance, but far exceed them in overall longevity. 

 

Conventional metrics include size, weight, volume, and battery life. We also consider metrics such as longevity, repairability and recyclability when quantifying the overall quality of a product. When taking these metrics into account we believe Decibel will be very much the benchmark in its category.



Image: Decibel, Version 3 Prototype

Double Decibel

Double Decibel is precisely as it sounds. It is Decibel with approximately twice the internal air volume. Double Decibel shares an obvious aesthetic with Decibel.

 

This larger size option is very important for initial entry into the Decibel ecosystem. It will be the second product in the Decibel range. Initially, a customer is purchasing a single item and likely not factoring in the future. It is important to deliver a unit that perfectly targets the initial purchase. 

 

Decibel and Double Decibel do precisely that. 

 

We are also considering a larger home based subwoofer system that wirelessly connects to Double Decibel.


Image: Decibel interior concept 3D Render

Liquid

Following the successful release of Decibel we will begin rolling out products in a variety of categories. The first of these is likely to be in the small home appliance sector, with Liquid. 

 

Liquid is an extremely advanced electric kettle. Designed to last the user a lifetime. Every major component of Liquid can be replaced or upgraded by the user. Our target is to deliver the most efficient rapid-boil electric kettle available. Liquid can be connected to the internet and offers convenient voice-activated interactions. Liquid can be customized, allowing the user to select the colors or materials that perfectly suit their home.

 

Liquid is projected to be the most energy-efficient electric kettle on the market. It will achieve this with cutting edge insulation and rapid sealing. Extremely efficient insulation will allow Liquid to retain temperature for considerably longer than conventional kettles. An advanced valve will rapidly seal Liquid after the specified temperature has been reached. This valve also makes Liquid significantly safer than conventional kettles.


Image: Liquid Concept 3D render

Future Products

Module plans to enter multiple market segments. Along with Liquid and an expanded Decibel range we also have numerous long term projects in the concept stage. One of the products we are considering is a modular smartphone. We are confident our smartphone concept features significant innovation and adheres to our strict ethos. However, we understand that the smartphone market is incredibly competitive. 

 

Future projects will be activated after considerable market due diligence.

 

Innovation is a creative and ongoing process. A truly successful product launch is years in the making. Our innovative design process is one of our most valuable assets.



Image: Module Smartphone Concept 3D render

66% of consumers are willing to pay more for sustainable brands*. There are no options for these consumers in the multi-billion mobile wireless speaker market

* - Neilsen global sustainability report

Our Market and Industry

Image: Decibel, V3 Prototype

The market for Bluetooth speakers is very much in its infancy. Current options range from cheap standardized units re-branded locally by importers, to mid-range brands, such as Bose, Logitech (under UE branding), and a number of high-end manufacturers like Bang & Olufsen and Bowers & Wilkins. Our research has exposed significant evidence that the top selling units are not the inexpensive models.

 

We believe the best position to enter the market is at the premium end of what is currently available, in the US$150 - US$250 RRP range. Two very successful units, UE’s Boom 2 and Bose’s Soundlink Mini 2 fall squarely into this price range. This pricing allows us to deliver superior audio performance, industrial design and materials selection. It also allows us to remain accessible to a majority of consumers.

 

Audio performance is fast becoming a more important factor in the buying decisions of customers. A Euromonitor survey found that 80% of their respondents selected audio quality as a key consideration in the purchase of a portable wireless speaker. Further, 44% selected it as the most important consideration. This is a marked change from the top selections the previous year. In the same survey, battery life ranked as the third highest consideration. These results validate Module's early, core specification decisions. This stands Decibel in a strong market position.

 

Decibel meets the demands of an environmentally conscious consumer. In current devices trivial hardware failures can result in an entire device going to landfill. This is wasteful, highly destructive to the environment and uneconomical for the user. Decibel does away with these issues. If a component needs replacing for any reason, the process is simple. A user with little or no technical knowledge can open the unit, replace the faulty or worn component and carry on enjoying it. The upgrade and repair process will be supported with detailed video and other instructional materials. We are currently investigating the viability of an A.R. (augmented reality) interface to assist with this instructional process.


This is a massive advantage over current competitors who, by and large offer no ability to replace any component. Current devices are incredibly difficult to dismantle. They use glue and often specialty fasteners when these are even accessible. More often than not, once dismantled, devices cannot be re-assembled to an acceptable state. Certainly not by someone without specific expertise, specialist equipment and plenty of spare time. That disregards the fact that manufacturers, in general don’t offer replacement parts to the public.

 

Our design philosophy harks back to the past, when an appliance could last an extraordinarily long time, perhaps your entire life. This is because products were well built with quality components and could be repaired.

 

We are advancing this philosophy to its ultimate conclusion, producing easily repairable high quality consumer items, needing little to no technical knowledge to upgrade and repair.

 

This is the antithesis to planned obsolescence. If we genuinely want to be less destructive to our planet, all manufacturing needs to move to a less wasteful model. We anticipate companies will be forced to move to a more sustainable model by legislation and public pressure in the very near future.

 

Module’s goal is to be leaders in this movement. We will allow users to be more environmentally conscious as a side effect of buying the best products available.

 

We believe supplying high quality, longer lasting products with a logical upgrade path will ensure a more loyal customer. We predict customers will purchase upgrades, replacement parts and further products within the Module ecosystem.



Market Size, Statistics and Forecasts

Market Size, Statistics and Forecasts

  • Logitech owned “UE” saw year on year net retail sales climb 31% to US$301 million in 2017. (Logitech annual report)

  • The global Bluetooth speaker market it set to grow to $8.5 billion by 2025. (Portable Bluetooth Speaker Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025) - Persistence Market Research)

  • The Wireless Audio market is predicted to be worth US$31.8 Billion by 2023. (MarketsandMarkets “Wireless audio market - June 2017). This market includes a more broad product range including at-home devices such as soundbars. It also includes so called “smart speakers” which are now separated into their own category. This is the broader, even larger market to which we have access.

  • 66% of consumers are willing to pay more for sustainable brands. (Neilsen global sustainability report)

  • 33% of consumers are now choosing to buy from brands they believe are doing social or environmental good. (Unilever 2017)

  • 44.7 Million metric tonnes of e-waste was generated in 2016. Only about 20 per cent – or 8.9 million metric tonnes – of that e-waste was recycled. Experts foresee a further 17 per cent increase — to 52.2 million metric tonnes of e-waste by 2021. (United Nations agency for information and communication technology - The Global EWaste Monitor 2017)

  • “As users customize and personalize their mobile devices they increasingly want a better audio experience” Jeff Orr - Senior Practice Director: ABI Research. This will continue to drive sales well into the future.

  • Futuresource predicts that virtually all home audio devices will be wireless by 2019, “consumers seek connectivity to popular streaming services such as Spotify and Apple Music, as well as to other devices such as their smartphone.” (Rasika Lyer, Market Analyst at Futuresource Consulting)


Why StartEngine?

Module is not a traditional technology company. Crowdfunding enabled our NZ parent to develop Module and Decibel to this point. Now that we are able to take Module international we feel it allows us to take our innovative approach a step further. 

 

On a fundamental level, people understand what we are trying to achieve. Crowdfunding allows them to be involved on both a financial and ethical level.

 

Allowing the crowd, you and I to decide which projects should go ahead has changed and will continue to change how companies form and come to market. At Module, we are attempting to do something that is long overdue. We believe the statistics show that many consumers are aware and tired of planned obsolescence. We want our products to last. We want to be able to repair or upgrade the products we own. We expect far greater consideration be paid to the environment.

 

It is clear that crowdfunding is the perfect fit for Module. A company with an emphatic goal that a majority of consumers support. A company that has the potential for dramatic global expansion across a truly diverse product range. We want to be able to share our future successes, be they financial or cultural with those who have supported us. 


Crowdfunding is a way to achieve this end.


Our Team

In this early phase of development we are operating with a multi-talented team. This includes two co-founders Ketzal Sterling and Vince Lovrich who have worked together on several other successful ventures. Our industrial design team, headed by Nick Jones, the acclaimed and experienced industrial design force behind Indemic. Our audio and acoustic team, headed by Garry Lambert, who has been a guiding light in audio design for decades. Our electronics and software design and engineering are headed by the team at Electronic Partners, again featuring decades of combined experience and prestige.

 
We intend to keep our on-staff team lean and agile. Contracted professionals will be brought in where necessary.

Invest in Module Today

We have already made great progress. Development is advanced. We have identified a large, growing market for longer lasting, less damaging technology products. Help us deliver these products to a world that deserves them.

 

We are a long way into the Module journey, we hope you will join us the rest of the way. Long life consumer technology products are absolutely essential if we are to reduce the harm being caused by rapid obsolescence.

 

By investing in Module, you will be supporting a company which aims to drive positive change through success and profitability. We are looking forward to sharing any future success with our early investors. Fundamentally, your investment will support a company whose goal, from founding forward is to positively impact the world we all inhabit.

Company Structure

Module consists of two business entities. These are a New Zealand based parent company, The Module Project Limited and a US based subsidiary, The Module Project, Inc. a Delaware C-Corp. Until now the NZ Parent has conducted most Module business. This business has consisted mainly of development and funding. The US entity has existed since 2016, not long after the parent was incorporated. 


Our intention has for some time been to transfer a majority of operations to the US company. This plan is based around our projection that a majority of Module business, particularly sales and marketing would be heavily biased toward the US market. Until now, it has not been logical to make this move and transfer the bulk of Module’s operations to the US entity. However, now that we are able to fund-raise internationally we are excited to begin operations via the US entity in earnest. The timing is finally appropriate and logical.  


Our intention is to transfer most operational control to the US Subsidiary as we see most of our business going forward to come from the US and beyond. The NZ Parent will of course remain operational but it will not directly conduct much day to day business. 


Revenues from Decibel sales will flow into the US entity. 

In the Press

May 29, 2018

Offering Summary

Maximum ($107,000) of Revenue Sharing Promissory Notes

Minimum ($10,000) of Revenue Sharing Promissory Notes


INVESTMENT OPPORTUNITY

Revenue Sharing Promissory Notes


Investment Multiple: 350% of initial investment

Revenue Sharing Percentage: 8.0% of the gross revenue of the Company calculated on a cash basis
(excluding any revenue attributable to rebates or refunds received in cash by the 
Company  with respect to any prior expenses incurred by the Company.)


Initial Grace Period: 24 months
(number of months after final Closing after which Periodic Payments begin)


Maturity Date:  48 months after the Initial Grace Period
(number of months after Initial Grace Period upon which any unpaid Amount Due becomes due.)


Payment Period:  Every 12 months, following the Initial Grace Period


What is a Revenue Sharing Promissory Note?

A revenue sharing promissory note offers you the right to receive a portion of the Company’s gross revenues up to a certain amount.  The amount of return you will receive in the future is determined by the Investment Multiple.  Your return is equal to your Initial Investment x the Investment Multiple.  Payments towards this multiple begin after the Initial Grace Period.  After the initial Grace Period, Investors will received a payment towards their portion of the Total Payment every Payment Period until the Maturity Date.  If the Total Payment is not repaid by the Maturity Date, the entire remaining amount becomes due and payable at the Maturity Date.

(See Exhibit F to the Offering Document for a complete set of Terms)

 

Company
The Module Project, Inc.
 

Corporate Address
The Module Project, Inc. 19e Blake Street, Ponsonby, Auckland, 1011 , New Zealand
 

Description of Business
The Module Project is a consumer technology company with a singular focus, to design and manufacture long-lasting consumer technology products.

Products which are modular, user-upgradeable, user-repairable and recyclable.
 

Type of Security Offered
Revenue Sharing Promissory Notes
 

Minimum Investment Amount (per investor) 
$500












Perks*

$1,000+ Invest $1,000 or over and you will receive a limited edition, numbered Decibel.

*All perks occur after the offering is completed.  Limited edition Decibels will be delivered  from the initial manufacturing run. 

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments. If the Offering Maximum is reached, the Company may use funds as allocated in the Use of Proceeds section of the Offering Document labelled "Inter Company Debt Repayment" towards repayment of Related Parties for debt owed to the NZ Parent company. Inter-company debt includes a small debt owed by the Company to it's NZ Parent. Dependent on the success of this campaign, along with other relevant considerations this debt may be repaid from proceeds.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$5,100.00 USD
$0.00 USD
Cash And Cash Equivalents
$5,100.00 USD
$0.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$0.00 USD
$0.00 USD
Long Term Debt
$7,220.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$230.00 USD
$0.00 USD
Net Income
-$230.00 USD
$0.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

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