Great call with Jim Collas. Im sure many of you learned quite a bit. There was some updates as well.
Heres a breakdown of what was discussed today at the conference call today.
-Currently a market for untapped online teen market is a $40 Billion Market
-Acute market developing for Teens that many companies are currently pushing for.
-BMP (Bill My Parents) is not only extremely simple and safe to use, but it gives parents full control.
- Website is mostly focus on parents "Its not a problem for parents, but a solution"
- Jim believes in high quality consumer experience. www.BillmyParents.com is up to those standards.
Whats in it for the partners of BMP?
- Easy to implement
- No shopping cart integration
- Extreme increase in teen traffic
Building momentum for product, to become dominant teen payment system.
Launched May 09 to much acclaim
- Have already signed major partners. Working With Artix, Zynga Habbo and Outspark that each have millions of users, to get the BMP product up on their sites
- In discussions with all the major online sites such as Facebook and Myspace for teen payment systems.
- Online retailers will follow.
- substantive revenues by Dec 2009
-Currently engaged with over 15 major potential partners.
-BMP is using Facebook and Myspace to go viral
-Most popular application (in users) generally will have over 25 Million users, BMP will be using top application developers to integrate the BMP platform to lock in users. BMP will be using many application developers, not just one or two to increase traffic.
BMP Debit Card
- Can be requested by parents
- Parents monitors transactions
- Can be used anywhere
- Every time the kid uses it parents get an email
- parents can instantly freeze or unfreeze the account (No one else offers this)
- only need 35k users to be cash flow positive (just with debit card)
Next 90 Days:
Announce new youth gaming sites
- 3 or 4 new exciting partners
- Announce launches
-Launch Debit card program
- Announce user base
Beyond 90 days to 6 months.
- generate substantial revenue
- sign up marquee partners
Plan is to become the dominant youth payment system. Can do this on a very small budget due to the enormous amount of interest from major companies.
Company could become an acquisition target, because so many companies are looking for payment systems.
Also plan to transition into a major (stock)market in the next 12-18 months.
This wraps up the breakdown, hope this helps. If you have anything to add let me know.