Item 1.01. Entry into a Material Definitive Agreement.
On January 25, 2012 Options Media Group Holdings, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Illume Software, Inc., a Delaware corporation (“Illume”) and I Acq Corp., a newly formed Delaware corporation which is a wholly owned subsidiary of the Company (“Merger Sub”), for the acquisition of Illume by the Company. Pursuant to the terms of the Merger Agreement, Merger Sub will merge with and into Illume and Illume will become a wholly owned subsidiary of the Company (the “Merger”) and the former securityholders of Illume will receive in exchange for their security holdings in a combination of Illume Series I Preferred Stock (which shall be automatically convertible into shares of the Company’s Common Stock upon the filing of Articles of Amendment to the Articles of Incorporation of the Company increasing the number of authorized Common Stock of the Company); Warrants to Purchase shares of the Company’s Common Stock, and Stock Rights to acquire additional shares of the Company’s Common Stock without the payment of any additional consideration upon the issuance by the Company of Common Stock upon the exercise, exchange or conversion of currently outstanding derivative securities.
The Company and Illume have made various representations and warranties and agreed to specified covenants in the Merger Agreement, including covenants relating to their conduct of business between the date of the Merger Agreement and the closing of the Merger. The Merger Agreement contains certain termination rights of Illume and the Company, including the right of either party to terminate if the Merger shall not have been consummated by February 12, 2012.
The Company’s Board of Directors has approved the Merger Agreement.
The consummation of the Merger is subject to customary closing conditions.
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Options Media Signs Definitive Agreement to Acquire Illume Software
Options Media Group Holdings, Inc. (OTCQB: OPMG) (PINKSHEETS: OPMG) (the "Company" or "Options Media") has entered into a definitive merger agreement to acquire 100% of the stock of Illume Software, Inc., a Boston-based mobile software company, whose iZup software is a responsible solution to cell phone-related distracted driving. The boards of directors of both companies have approved the merger, which is expected to close by February 12, 2012, subject to various closing conditions, including the approval of Illume shareholders and other customary closing conditions.
Under the terms of the definitive agreement, Illume will become a wholly-owned subsidiary of Options Media. The shareholders of Illume will own 40% of the post-merger company. The completion of the acquisition is contingent on Options Media receiving financing in connection with the acquisition and for ongoing operating costs.
The agreement calls for a combination of the two company's boards of directors and management teams at the Options Media level. Upon closing, Daniel Ross, CEO of Illume, will become the CEO of Options Media. The combined Board of Directors will include current Options Media board members Keith St. Clair, Leo Hindery and Ervin Braun and current Illume board members Daniel Ross and William Elfers. The Company intends to serve the consumer market through its PhoneGuard application and the enterprise market through the Illume iZup application.
Illume develops solutions that leverage location to power high-value mobile phone applications and services. Illume's iZup solution provides safer roads for everyone, enhanced productivity, reduced corporate exposure to liability and compliance monitoring. Illume has filed four patent applications for its technology, including battery optimization. Illume's customers and partners include Carahsoft, a major government IT solutions distributer (Illume is on the GSA schedule); Sprint, which recently named Illume as its distracted driving solutions partner for enterprise customers; The Jankovich Co., a leading petroleum distributer on the West Coast and a Fortune 500 food manufacturer. Illume sells its iZUP solution through its sales force, its enterprise partners, the Android Marketplace, and the BlackBerry App World.
"The combination of two leading mobile apps that prevent distracted driving -- PhoneGuard and iZUP -- creates the best solution for both consumers and businesses," said Keith St. Clair, Chairman of Options Media. "Distracted driving is becoming an epidemic, and as recently as December 2011, the Chairman of the National Transportation Safety Board recommended the ban of cell phone usage while driving. Beginning in January 2012, the Federal Motor Carrier Safety Administration and the U.S. Department of Transportation implemented a hand held cell phone ban for all commercial vehicles, with fines of $2,750 dollars for the operator and up to $11,000 dollars to the employer for every distracted driving ticket. This merger gives Options Media the ability to provide consumers and businesses product suites that ensure that drivers are not distracted by their smart phones while driving."
Daniel Ross, Chief Executive Officer of Illume, said, "Having built relationships in Washington to affect supportive legislation, invested heavily in new product development, established key partnerships to effectively go to market and taken steps toward building an enterprise customer base, we welcome the opportunity to join with PhoneGuard in addressing this growing epidemic. We will now have drivers protected whether it's initiated from the consumer or from the enterprise. We're excited for the future of the combined company in which we will continue to strive for responsible mobile phone usage while driving."
Led by experienced mobile telecom, Internet and media veterans, Illume boasts an advisory board of prominent business, political, financial and technology leaders that includes U.S. Senator Bob Kerrey, U.S. Senator Tom Daschle, Leo Hindery Jr., ex CEO of ATT broadband and founding partner of the Intermedia fund, who has already joined OMG's board, Fay Vincent, past Vice Chairman of The Coca-Cola Company, and William Elfers, Managing Director of Fidelity Capital and Chairman and CEO of Community Newspaper Company, a Fidelity Capital subsidiary.
Has fallen on some hard times, dilution by the company has lead alot of holders to jump ship. Recent pop of 90% Chart on the bubble, maybe some room to reach .002 but doesn't look like much else unless company releases some substancial news. Justin Berbier still on board so maybe just maybe this might turn around. Just playing the ups and downs for now.
-------------------- Let's Go METS!!! Posts: 3316 | From: CT | Registered: Dec 2006
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Form 10-Q for OPTIONS MEDIA GROUP HOLDINGS, INC.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Company Overview
Options Media Group Holdings, Inc. ("Options Media", or the "Company") had historically been an Internet marketing company providing e-mail services to corporate customers. Additionally, Options Media has a lead generation business and disposed of its SMS text messaging delivery business as discussed below. In 2010, Options Media transitioned by changing its focus to smart phones and acquiring a robust anti-texting program that prohibits people in vehicles from texting, e-mailing, and reading such communications while moving. As part of its focus on mobile software applications, Options Media has also broadened its suite of products by continuing to improve the features of its anti-texting software. In conjunction with this change of focus, in February 2011, Options Media sold its e-mail and SMS businesses as described below. Options Media retained its lead generation business. The consolidated financial statements contained herein retroactively give effect to the February 2011 sale treating the e-mail and SMS businesses as discontinued operations as if it was sold on January 1, 2010. The Company's revenues for the year ended December 31, 2011, consisted almost solely of lead generation revenue.
Our PhoneGuard anti-texting software, when active on a mobile phone, prevents the user from texting while driving thereby enabling the user to focus on the road. Our anti-texting application is designed to keep teenagers, family members, and people who drive for businesses safe while driving by disabling texting, instant messaging, calling, web browsing, and other phone-based distractions that should not be used while driving. PhoneGuard protects drivers from the dangerous temptation to use their phone while driving. PhoneGuard also provides a vehicle's occupants personal safety with the following features: (i) a panic button; (ii) a location finder; (iii) geo fencing; and (iv) speed notifications.
In May 2011, we entered into agreements with Justin Bieber Brands, LLC and certain associates which led to Justin Bieber agreeing to act as spokesperson for PhoneGuard's anti-texting product. During the second quarter we finalized our marketing strategy in conjunction with Mr. Bieber's advisors. This led to Options Media offering the base anti-texting product free in order to maximize enrollment in our campaign to reduce the very damaging effects of texting, e-mailing, and talking while driving.
In this soft launch phase, management was extremely encouraged by the fact that there were approximately 15,000 unique downloads of the free product in the first two weeks of launch. At the time of the soft launch, a public safety announcement ("PSA") video featuring Justin Bieber was broadcast via the Internet. The consumer response was extremely positive as there were more than 500,000 YouTube views of this PSA video and nearly 1,000,000 Facebook page views.
We recently announced our support for the National Day of Awareness Against Texting & Driving. We will also continue to support a music festival, originally scheduled for April 2012, that has been postponed until the Fall of 2012. The music festival promotes the cause of "texting responsibly". If our efforts supporting the concert are successful, we expect to turn more of our attentions toward future events, inclusive of additional concerts.
Acquisition of CSI Software
On July 15, 2011, we entered into an agreement with Cellular Spyware, Inc. ("Cellular" or "CSI") and Anthony Sasso ("Sasso"), a former employee of the Company. In connection with the agreement, we purchased all of the intellectual property for the anti-texting software owned by CSI for an aggregate amount of $1,125,000. The Company had previously licensed the software and had all rights to North, Central, and South Americas. As a result of the agreement, the Company now owns all worldwide rights to the software (the "CSI Assets"). As consideration for the CSI Assets, the Company paid CSI $300,000 in cash, a $450,000 promissory note, and 25,000,000 shares of the Company's common stock (initially subject to a Lock-Up/Leak-Out Agreement as described below) (the "Consideration Shares"), valued at $375,000 based on a blended, pro rata, price per share of two then recent private placements of our common stock.
The $450,000 note payable provided for the payment by us of 18 equal monthly installments of $25,000 beginning in August 2011. The Company made its August - October payments. However, it made a partial November 2011 payment and did not make its December 2011 payment due to insufficient cash flow. In February 2012, we amended the terms of the $450,000 note, such that the $362,500 unpaid balance at the timing of the signing of the amendment would commence in April 2012 in $25,000 monthly installments until repaid. The acquisition of the CSI Assets was treated as an asset purchase.
Our Product - Saving lives, One Text at a Time
PhoneGuard software is a next-generation, state-of-the-art mobile phone control management software suite designed to prevent texting and e-mailing while driving. The software provides personal safety features and it also offers parents and employers the ability to monitor the driving habits of mobile phone users in order to prevent speeding.
PhoneGuard software automatically turns off certain functionalities of the driver's mobile phone when the phone is in a moving vehicle. Thus, the user will no longer be able to text, e-mail, surf the web, instant message or make outgoing calls while driving. When the car is stopped for more than five seconds, however, the phone will automatically allow texting and other data functions to resume. Any missed text messages will be waiting for the user. Once the user starts driving again, the software will automatically block these activities again.
Our PhoneGuard software allows parents to control when their children can text or browse the Internet while driving in their cars. When a vehicle exceeds 10 mph the keypad locks up preventing texts, e-mails and dial out calls. If a text or e-mail is received while the keypad is in lockdown an auto reply will be sent to the sender that the recipient is driving.
In December 2011, the National Transportation Safety Board ("NTSB") called for a nationwide ban on the use of cell phones and text messaging while driving. The NTSB said their ban would apply to hands-free as well as hand-held devices, though those installed in the vehicle by the manufacturer would still be allowed. Under the proposed ban, only the driver would be banned, as the passengers' right to use a cell phone or text message would not be impacted. The National Traffic Highway Safety Administration ("NHTSA") reported that there were more than 3,000 accidents last year involving distracted driving through the NHTSA believes the actual number is significantly higher. In December 2011, the NHTSA released a study that stated that at any given daylight moment, more than 13 million drivers are on hand-held phones.
PhoneGuard software is currently downloadable to BlackBerry and Android mobile phones. The Company has a version available for iPhones. However, the software's operations are not as robust as on the other platforms due to limitations with the iPhone operating system. The software uses global positioning satellite tracking of the mobile device in order to calculate the rate of speed of travel. Above certain predetermined speeds the PhoneGuard software will lock the keyboard and touch screen preventing the user from texting or doing anything but receive incoming calls. When we refer to texting, we also refer to e-mailing, web browsing, instant messaging or making outgoing calls. PhoneGuard software also includes an advanced set of features such as Time Out Control, Speed Control, Parental Override and Request Permission.
We expect that revenue from the PhoneGuard software will be principally derived from advertising services and subscription fees via the following offerings:
? PhoneGuard: this version is offered to the consumer free and provides standard product offerings. It is an advertising supported model.
? PhoneGuard Premium: this version is offered to the consumer via an annual subscription cost. It is a step up from the PhoneGuard model as it provides additional functionality via a web portal that is not included within the PhoneGuard model. It is not an advertising supported model.
? PhoneGuard Enterprise: this version is targeted towards businesses and is offered via an annual subscription cost. It is a model that has access to the all of the product's available offerings and is customizable to meet the specific needs of each of our client's business. It is not an advertising supported model.
The aforementioned offerings have the following functionalities:
PhoneGuard PhoneGuard PhoneGuard Family Pro Enterprise Text block: Keeps the driver and passengers safe while a vehicle is being driven by preventing the driver from surfing the web, texting, BBMing or reading e-mails X X X Custom auto-reply: Alerts the person that sends a text message while the vehicle is being driven with a customized message of why you are unavailable to answer. X X X Panic button: Immediately sends a text message with a panic message and GPS coordinates that will open a map with available administrative phone numbers to call, or 911 X X X Override: Allows administrative user to enter passcode to unblock the phone for 30 minutes, even while driving or in timeout mode X X X Advertising enabled: Advertisements will occur through auto-reply texts and banners X Speed control: Allows administrative user to set a speed limit to help monitor how fast the vehicle is being driven. X X X Emergency call: Shows a list of administrative phone numbers to call, including 911. X X X Request permission: Sends a message from the phone to the administrative phone requesting an override to unblock the phone X X X Administration control: Allows administrative user to enter new administrative phone numbers and remove old ones X X X Speed violation alert: Sends a message from the phone to the administrative phone with alerts of excessive speed with a map link to the violation location X X X Remember passcode: Allows administrative user to remember the passcode so the phone will bypass the login for all administrative functions X X X Custom timeout auto-reply: Allows administrative user to customize timeout messages on the phone X X X Timeout: Allows administrative user to set timeout periods and custom timeout messages on the phone. X X X Geo-fencing: The administrator may set perimeters and receive alerts if the cell phone leaves the designated perimeter. X X X Web portal: Users will have access to additional functionalities offered through a web portal X X Locator/Tracker: Enables the end users to locate/track their mobile phones in the event they are lost or stolen X X Family/Enterprise View: Enables administrator to view the locations of all phones registered to their portal X X Customizable reporting: Enterprise's administrator will have the ability of customizing canned reports X
According to CTIA - The Wireless Association, text messaging has experienced a tenfold increase in the past three years. In fact, in 2009, 457 billion text messages crossed the AT&T network alone, compared to approximately 243 billion in 2008 and 88 billion in 2007. It is becoming the way many people communicate today, but while this popular means of communication might be simple, reading or responding to text messages while driving can have serious consequences.
"Texting has increasingly become the way to communicate for many people, and the urge to quickly read and respond - even while driving - can be tempting," said AT&T Chairman and CEO Randall Stephenson. PhoneGuard software protects drivers from the dangerous temptation to use their phone while driving. Those who text while driving are 23 times more likely to be involved in some type of safety critical event (six times greater than driving while intoxicated) as compared to those drivers who don't text while driving, according to a study by Virginia Tech Transportation Institute.
"Distracted driving is an epidemic, particularly among teens who are confident in their ability to text while driving," said U.S. Transportation Secretary Ray LaHood. "Of the 5,500 people killed last year due to distracted driving, the largest proportion of fatalities occurred among young people under the age of 20."
A recent survey of mobile phone owners showed that mobile phone use and text messaging is highest among those 18-29, and text messaging is the No. 1 mobile phone use by this group. The study did not examine habits of those younger than 18, but it follows that usage for this group is also high. In the "parental" age range of 30-49, text messaging drops by more than half, and even more in the next age category.
A January 2010 Nielsen study of the phone bills of 40,000 US teenagers found that teenagers send text messages an average of 10 times per hour while they are awake -- exceeding 3,100 text message per month. Many teenagers text and drive, which has been proven to be a deadly combination. Even though the American Automobile Association is having success in passing anti-texting while driving laws across the United States, teenagers are still sending texts from behind the wheel of moving cars.
This explosion in text messaging has seen the following:
? The National Safety Council estimates that 1.6 million crashes annually involve cell phone use with 200,000 due to text messaging.
? A national insurance study estimates 20% of drivers text; in the 18-24 year old age group, the number is 66%.
? At least 30 states have banned texting while driving.
? In October 2009, President Obama issued an executive order banning texting while driving for federal employees.
? During the 2010 NCAA Men's College Basketball tournament, AT&T wireless acted as the official wireless carrier. It broadcast public service commercials against texting and driving.
Currently there are thirty-four (34) states along with the District of Columbia that ban text messaging for all drivers. Twelve (12) of these laws were enacted in 2010 alone. Nine (9) states along with the District of Columbia prohibit drivers from using handheld cell phones while driving. New research from the Insurance Institute for Highway Safety shows the number of accidents caused by distracted driving actually increased after these laws were passed. We believe these laws strengthen the public's need for our anti-texting Software.
Additionally, research on distracted driving, as reported on the United States Department of Transportation's official US Government website for distracted driving (http://www.distraction.gov/stats-and-facts/index.html) reveals some disturbing facts:
? 20 percent of injury crashes in 2009 involved reports of distracted driving (NHTSA).
? Of those killed in distracted-driving-related crashed 995 involved reports of a cell phone as a distraction (18% of fatalities in distraction-related crashes) (NHTSA).
? In 2009, 5,474 people were killed on U.S. roadways and an estimated additional 448,000 were injured in motor vehicle crashes that were reported to have involved distracted driving (FARS and GES).
? The age group with the greatest proportion of distracted drivers was the under-20 age group - 16 percent of all drivers younger than 20 involved in fatal crashes were reported to have been distracted while driving (NHTSA).
? Drivers who use hand-held devices are four times as likely to get into crashes serious enough to injure themselves (Source: Insurance Institute for Highway Safety).
? Using a cell phone while driving, whether it's hand-held or hands-free, delays a driver's reactions as much as having a blood alcohol concentration at the legal limit of .08 percent (Source: University of Utah).
Corporate Fleet Market
Even though most companies and fleets have a policy in place prohibiting employees from texting while driving, there have been a number of lawsuits against corporations who are allegedly negligent for their employees texting while driving accidents. Corporations and fleet managers are scrambling to combat this increase in liability exposure. The Company believes that its PhoneGuard software and services modify employee driving behavior, reduce crashes, and minimize corporate risk and liability.
Employers can also use the PhoneGuard software to control texting by drivers who operate commercial vehicles including trucks, taxis and school buses. Case studies show that texting is a distraction that could likely cause an accident no matter how good a driver may be. The results can range from having a commercial driver's license revoked to costing a driver or innocent bystanders their lives.
In January 2012, a new federal law went into effect that prohibits interstate commercial truck drivers and commercial bus and van drivers carrying more than eight passengers from using hand-held cell phones when driving. The law permits truck, bus and van drivers to use hands-free devices, though. Government workers are also prohibited from texting while driving government-owned vehicles. Thirty-four states and the District of Columbia have banned text messaging for all drivers.
In the more than 30 states that have laws restricting texting and e-mailing while driving, companies and public sector agencies, particularly those whose employees are required to drive as part of their job descriptions, are facing the risk of higher liability for accidents caused by the improper use of mobile devices while driving. PhoneGuard software effectively enforces texting-while-driving bans and can decrease an employer's risk of being held vicariously responsible in civil court cases.
PhoneGuard software is also effective in reducing corporate liability for vehicular accidents caused by an employee's improper use of a company-issued mobile phone while driving. Our corporate software provides the ability to track the position of a phone in real time and by location. For more information on our products please visit www.phoneguard.com.
Marketing of PhoneGuard Software
During 2011 and the first quarter of 2012, our senior management team focused on initiating marketing of PhoneGuard software. Although the approach is varied, time was spent seeking to penetrate three key markets - retail stores, wireless phone carriers, and insurance companies. In addition, we initiated an online approach where consumers can download PhoneGuard software and activate it directly from us.
The Company also believes that an important force in fighting texting while driving consists of insurance companies who end up paying the cost of the resulting accidents. We have been engaged in discussions with a major casualty insurance company. We are seeking to obtain its endorsement for it to give its policyholders a discount if all drivers covered under the policy have downloaded PhoneGuard software.
Other marketing opportunities we are pursuing include: (i) discussing the anti-texting portion of the PhoneGuard software with other insurance companies, both nationally and internationally; (ii) bundling the PhoneGuard software with other third party vendor applications; and (iii) expanding the geographical reach of the personal security features of the PhoneGuard software to other countries, especially third world nations that tend to have higher levels of crime.
During the early part of 2011, our remaining business was from the original business model, a lead generation business. We acquired online leads from an unaffiliated third party which is a supplier of leads relating to educational matters. We employed two people who utilized these leads and supplied them to an additional third party that in turn interfaces with colleges and universities. These two employees were also responsible for soliciting new business. During the first three months of 2012, we focused substantially all of our efforts on the development and marketing of the PhoneGuard software and decreased the amount of attention we have placed our lead generation activities. As such, no revenue was derived from lead generation during the first three months of 2012.
While there are several other products on the market today that prevent texting while driving using a similar approach, we believe that the PhoneGuard software significantly leapfrogs these products through an additional advanced set of features. We expect that this competition will continue to intensify in the future as a result of industry consolidation, the maturation of the industry and low barriers to entry. We compete with a diverse and large pool of companies.
Our ability to compete depends upon several factors, including the following:
? The timing and market acceptance of our new solutions and enhancements to existing solutions;
? Our customer service and support efforts;
? Our sales and marketing efforts;
? The ease of use, performance, price and reliability of solutions provided by us; and
? Our ability to remain price competitive.
Critical Accounting Estimates
This discussion and analysis of our consolidated financial condition presented in this section is based upon our unaudited consolidated financial statements which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of our unaudited consolidated financial statements and related disclosures requires us to make estimates, assumptions and judgments that affect the reported amount of assets, liabilities, revenue, costs and expenses, and related disclosures. We believe that the estimates, assumptions and judgments involved in the accounting policies described below have the greatest potential impact on our unaudited consolidated financial statements and, therefore, consider these to be our critical accounting policies. On an ongoing basis, we evaluate our estimates and judgments, including those related to allowance for accounts receivable, estimates of depreciable lives and valuation of property and equipment, valuation of discounts on debt, valuation of beneficial conversion features in convertible debt, valuation of derivative liabilities, valuation and amortization periods of intangible assets, valuation of goodwill, valuation of stock based compensation and the deferred tax valuation allowance. We based our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Accounting for Derivatives
The Company evaluates its convertible instruments, options, warrants, or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for under ASC Topic 815, Derivatives and Hedging. Under the provisions of ASC 815-40, convertible instruments and warrants, which contain terms that protect holders from declines in the stock price ("reset provisions"), are also required to be accounted for in accordance with derivative accounting treatment under ASC 815-10. Additionally, the Company evaluates whether the amount of common stock on a as converted basis is in excess of its authorized share total which, if in excess, would result in derivative accounting treatment. The result of this accounting treatment is that the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income (expense). Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Equity instruments that are initially classified as equity that become subject to reclassification under ASC Topic 815 are reclassified to a liability at the fair value of the instrument on the reclassification date.
We recognize revenue when: (i) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which products or services will be provided; (ii) delivery has occurred or services have been provided; (iii) the fee is fixed or determinable; and (iv) collection is reasonably assured.
In accordance with ASC 605-45-05, we report revenues for transactions in which we are the primary obligor on a gross basis and revenues in which we act as an agent on and earn a fixed percentage of the sale on a net basis, net of related costs. Credits or refunds are recognized when they are determinable and estimable.
Our revenue will principally be derived from advertising services and subscription fees.
Advertising Revenue. We expect to generate advertising revenue primarily from display, audio and video advertising. The Company will generate its advertising revenue through the delivery of advertising impressions sold on a cost per thousand, or CPT, basis. In determining whether an arrangement exists, we ensure that a binding arrangement, such as an insertion order or a fully executed customer-specific agreement, is in place. We generally recognize revenue based on delivery information from its campaign trafficking systems. In addition, we will also generate referral revenue from performance-based arrangements, which may include a user or recipient of an "auto reply" performing some action such as clicking on an advertisement and signing up for a membership with that advertiser. We record revenue from these performance-based actions when it receives third-party verification reports supporting the number of actions performed in the period. We generally have audit rights to the underlying data summarized in these reports.
Subscription and Other Revenue. We will generate subscription services revenue through the sale of our PhoneGuard's anti-texting software. For annual subscription fees, subscription revenue will be recognized on a straight-line basis over the subscription period.
We offer lead generation programs to assist a variety of businesses with . . .
-------------------- WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT? Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004
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