Ocean Guardian is the manufacturer of electrical shark deterrent products using Shark Shield Technology. Lyon explains, “the Shark Shield Technology is the world's only scientifically-proven and independently-tested electrical shark deterrent... the efficacy of the product is so good that in Western Australia the government gives you a rebate when you buy our product.”
The company is seeking to raise $5 million by issuing 25 million shares at an offer price of 20 cents per share, with an oversubscription total of $6 million. The capital raised will be evenly divided between the marketing of existing products and launching of newly developed products, new product development and engineering, and operating cash for business development. "The expectations are that the round will close very quickly… Our expectation is that we will get to a solid cash flow profitable position with that cash," says Lyon.
The company recently rebranded, opening opportunities for licensing or OEM agreements and new business lines. It plans to drive growth by adding to its established dive and surf products with longer-range higher-margin boat and beach devices, in what is being touted as a win for humans, sharks and the environment.