Thursday, February 17, 2011

Socialwise Partners with Movie Tickets .com

SAN DIEGO, CA--(Marketwire - 02/16/11) - Socialwise, Inc. is pleased to announce that BillMyParents, its payments solutions brand for teens, has formed a new partnership with advance movie ticketing provider The partnership includes an array of national marketing initiatives targeted to teens and their families that will commence later this spring.

"We're very enthusiastic about our partnership with," commented Jim Collas, president and CEO of BillMyParents. " has established itself as a great resource for moviegoers, and together we will deliver a new level of convenience, security and ease-of-use to teens and families nationwide."

The BillMyParents and partnership is a natural solution for both companies for whom the teen demographic is especially important. Together, both companies' services will offer the vast teen movie-going audience with a seamless way to purchase tickets.

"The marketing programs we've developed with BillMyParents will be directed towards the incredibly important teenage movie-goer and will utilize various media outlets," said Joel Cohen, CEO of "Both of our brands are dedicated to making life easier for consumers, and our partnership will elevate our ability to do that for existing and new audiences."

BillMyParents payment solutions for teens are designed to encourage and support communication between parents and their teens about money matters. The company offers an online program with select partner e-commerce sites, allowing users to safely and easily transact online purchases, as well as a financial services product for teens to use in traditional retail settings.

Wednesday, January 26, 2011

Rob Drydek, Travis Pastrana and Ryan Sheckler to start advertising for BMP!

SAN DIEGO, CA--(Marketwire - 01/25/11) - Socialwise, Inc.'s (OTC.BB:SCLW - News) teen payment solutions brand BillMyParents® released today an exclusive video promo featuring champion motocross racer and rally car driver Travis Pastrana, educating viewers about the reloadable BillMyParents® Prepaid MasterCard® card. The video is a key component for a social media video sharing campaign where Facebook and Twitter users can enter to win prizes from BillMyParents® and popular action sports brands.

The Travis Pastrana BillMyParents® video sharing contest will be promoted heavily on the BillMyParents® Facebook fan page and their Down4BMP Twitter profile, as well as through the company's athlete endorsers' Facebook fan pages and Twitter profiles, reaching millions of people. The social media campaign combines Pastrana's video with an additional promo video showcasing pro skateboarder Ryan Sheckler. Users are encouraged to share the video links with as many of their friends as possible via their social networks by January 31, 2011 for multiple entries to win prizes including $500 from BillMyParents®, a head-to-toe gear package from DC Shoes and other action sports-related products.

"Social networking is a significant way that people of all ages can communicate today -- especially tweens and teens," commented Jim Collas, president and CEO of BillMyParents®. "We're actively growing our presence on Facebook and Twitter by providing interesting content that supports our action sports athlete endorsers and retail partners. The Travis Pastrana video sharing contest was designed specifically for Facebook and Twitter users and will help spread the word about our reloadable Prepaid MasterCard card while confirming our commitment to the exciting world of action sports."

BillMyParents® provides cutting-edge and safe online payment solutions for teens and their parents, ranging from giving parents complete control over purchases to simply monitoring purchase transactions. Available to teens 13 - 18, Travis Pastrana has 2 signature BillMyParents® reloadable Prepaid MasterCard® card designs for users to choose from. The card is free to activate and is a cost effective way for families to handle teen spending money, with a low monthly maintenance fee of $3.95 and 75¢ per-load fee. PIN-based and signature transactions are always free, and there are no fees for inactivity, calling customer service or cancelation. The company also recently launched the new "Money Tips for Teens" blog created to help parents talk to their teens about healthy and responsible financial practices. Topics include teen budget and expense tracker tools, saving for college, how to curb impulse spending, and more.

Tuesday, January 25, 2011

Major News! Big Name on Board Issac Blech

Dont know how many of you caught this, but this is a major step when someone of Blech's caliber steps forward...Blech is a self made billionaire with tons of connections. I challenge you to google his name....

Entry into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement

On January 19, 2011, Socialwise, Inc., a Colorado corporation ("we," "us," "our," or the "Company"), entered into a Subscription Agreement, Registration Rights Agreement and Common Stock Purchase Warrant (collectively, the "Financing Agreements") with a trust (LIBERTY CHARITABLE REMAINDER TRUST FBO ISAAC BLECH UAD 01/09/87) whose trustee is an existing Company shareholder, pursuant to which we issued 5,000,000 shares of our Common Stock, and five year warrants to purchase an additional 3,750,000 shares of our Common Stock at an exercise price of $0.40 per share, in exchange for gross proceeds totaling $2,000,000.

This financing transaction resulted in estimated final net proceeds to us of $1,785,000, after deducting fees and expenses. Maxim Group LLC acted as the Placement Agent in connection with the offering and will receive cash proceeds totaling $200,000 and will receive five-year warrants to purchase 750,000 shares of Common Stock at an exercise price of $0.60 per share as compensation. Equity Source Partners (and its designees) was also granted a five-year warrant to purchase 250,000 shares of our common stock with an exercise price of $0.60 per share.

The following summarizes the terms of the Financing Agreements with the investor:

Securities Sold. The investor received one share of our Common Stock and a warrant to purchase three shares of our Common Stock for every four shares of Common Stock purchased.

Additional Covenants. The Company has agreed to certain covenants in connection with the Subscription Agreement including:

Listing of securities sold on any trading market that the Company applies to have its securities traded on;

Reservation of shares adequate to satisfy all warrants outstanding which were sold;

Replacement of securities lost by the investor upon adequate evidence of such loss;

Right of participation in any future issuances of securities by the Company through January 19, 2011; and

Obligation to indemnify the investor under specified circumstances.

Registration Rights. The Company has entered into a Registration Rights Agreement with the investor pursuant to which, subject to the Company's receipt of waivers from the investors who are party to the registration rights agreement with the Company dated November 16, 2010 (the "Previous Agreement"), the Company is required to file a registration statement for the re-sale of the Common Stock and Common Stock underlying the Warrants, or include the Common Stock and Common Stock underlying the Warrants within the registration statement to be filed pursuant to the Previous Agreement, within 90 days after January 19, 2011, and to use its commercially reasonable efforts to cause the registration statement to be declared effective as promptly as possible after filing.

Warrants. The warrants issued in connection with sale of Common Stock are five year warrants to purchase shares of our Common Stock at a price of $0.40 per share.

The summary of the financing transaction described above, and the summary of the terms of the securities and agreements related to such financing transaction, are qualified in their entirety by reference to the following documents which are filed as exhibits to this current report:

Subscription Agreement;

Common Stock Purchase Warrant; and

Registration Rights Agreement.

Item 3.02 Unregistered Sales of Equity Securities

The information provided in response to Item 1.01 of this report is incorporated by reference into this Item 3.02. The investor in that financing met the accredited investor definition of Rule 501 of the Securities Act of 1933, as amended (the "Securities Act"). The sale of Common Stock and warrants in the offering were made in private placements under Section 4(2) of the Securities Act and/or Rule 506 of Regulation D under the Securities Act. The offering was not conducted in connection with a public offering, and no public solicitation or advertisement was made or relied upon by the investor in connection with the offering.

The total number of outstanding shares of outstanding Common Stock as of the date of this report is 67,352,170.