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Sounds like your friends need to get some confidentiality agreements signed before engaging in any further discussions.
It's either already been invented (and maybe the patent's run out), or it's begging to get invented and there's some invention rights to be protected.
The technical details sound achievable (based on such understandibly vague descriptions). Safety, backstop, user interlocks, positional interlocks and other factors need to be accounted for. No sense in designing a great shooter to install big rivets in tight holes, if one in ten thousand will shoot through and buy you a ten million dollar lawsuit.
YMMV
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