Company is involved in unified voice messaging. Has a contract with AVAYA -symbol AV- NYSE. Each day AVAYAS customers use 100 million voice mailboxes and VMII gets paid a royalty of approx. $1 per mailbox each month. The original contract was signed in September '03 and an amendment was added in December 'o3. AVAYA & VMII updated the amendment in June'04 which calls for AVAYA to get 6 million warrants convertable into common shares at $0.87 U.S. if goals are met: #1- market vmii's software world-wide. They have started and received 2 million warrants. #2.install 1 million mailboxes in 12 months #3.install 6 million mailboxes in 24 months. Goal #2 should be announced in the next 60 days. If 1 million mailboxes are installed then vmii shows $1 million dollars per month revenues. AVAYA has also committed to fund VMII to include any update to the software. I feel VMII is a prime candidate to get bought out as AVAYA will get tired of paying VMII each month. Also look at the acquisitions AV has made just recently- 3 companies totaling $750 million. But if you go back further they are notorious for buying out vendors they do business with. Strong buy opportunity.
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