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.
Showing posts with label Socialwise. Show all posts
Showing posts with label Socialwise. Show all posts
Tuesday, January 25, 2011
Monday, April 5, 2010
12 Month Price Target $1.52- Grass Roots
SAN DIEGO, CA--(Marketwire - 04/05/10) - Socialwise, Inc. (OTC.BB:SCLW - News) announced today that Grass Roots Research and Distribution - Cohen Independent Research ("Cohen Report") issued an in-depth research report on the Company, which provides a 12-month Cohen Price Target of $1.52 per share. To download the report directly, please visit http://www.grassrootsrd.com/grassrootsrd/Reports/Socialwise_Inc_04_05_2010.pdf or go to www.grassrootsrd.com.
The Cohen Report concluded, "Socialwise's product offerings fill a need in today's market. Growth drivers include unique products and services. We believe the Company has a highly scalable business model, multiple revenue streams, favorable industry economics and a strong management team. In our view, Socialwise has a compelling business model. With demand for alternative online payment options expected to rise significantly, we expect significant growth for Company's products and accordingly for SCLW to quickly progress from its current stage of minimal revenues to a cash flow positive and high growth Company in the near future. Provided the Company raises adequate capital to support its operations and increased marketing efforts while it seeks consumer acceptance for its product offerings, we believe Socialwise provides an exciting, high growth and long term investment opportunity."
The Cohen Report concluded, "Socialwise's product offerings fill a need in today's market. Growth drivers include unique products and services. We believe the Company has a highly scalable business model, multiple revenue streams, favorable industry economics and a strong management team. In our view, Socialwise has a compelling business model. With demand for alternative online payment options expected to rise significantly, we expect significant growth for Company's products and accordingly for SCLW to quickly progress from its current stage of minimal revenues to a cash flow positive and high growth Company in the near future. Provided the Company raises adequate capital to support its operations and increased marketing efforts while it seeks consumer acceptance for its product offerings, we believe Socialwise provides an exciting, high growth and long term investment opportunity."
NEWS UPDATE- Professional Skateboarder and TV Star Rob Dyrdek Teams up with Socialwise!
SAN DIEGO, CA - (April 1, 2010) - Socialwise, Inc. (OTCBB:SCLW) BillMyParents®, the online teen payment system of Socialwise, Inc. (OTCBB:SCLW), is proud to announce that professional skateboarder and TV star Rob Dyrdek has signed a deal with the Company to promote its online BillMyParents® payment solution and teen MasterCard® prepaid debit card. Dyrdek will be part of a major marketing initiative the company plans to launch in late spring that will include a multitude of top action sports athletes and retailers.
Rob Dyrdek is a star athlete, entertainer and entrepreneur, well known to tens of millions of fans both in the US and around the world. Rob’s MTV reality show Fantasy Factory is wildly popular and he was a top five finisher in two recent Teens’ Choice Awards categories. Additionally through Dyrdek Enterprises, he oversees several companies selling toys, apparel and athletic equipment as well as Street League, a foundation dedicated to creating safe street skate environments. Rob also has millions of teen followers on Facebook, MySpace and Twitter.
"I’m excited to work with BillMyParents. I like what they do," said Mr. Dyrdek. "Giving teens freedom to pick what they want and also letting parents in on that, I think it gives parents insight into what their kids really want and gives teens the opportunity to learn financial responsibility. It just makes sense."
"Rob is an ideal celebrity athlete to promote BillMyParents. He is admired and followed by millions of teens, and his ability to promote and communicate a positive message to his fan base is unsurpassed," noted Jim Collas, President and CEO of BillMyParents®. "Rob’s appeal extends to parents because he sets a light-hearted example to kids to work hard in order to achieve their goals. Parents also appreciate Rob’s numerous philanthropic undertakings."
BillMyParents® provides innovative payment solutions for teens and parents. With the Supervised Shopping™ program, teens shop online and pick out specific items they want by using the convenient BillMyParents® payment button on partner retail sites. Parents have the option of providing an allowance-like spending limit in advance, or are notified via email or text to approve or deny each purchase requested through the simple, safe and easy-to-use automated system.
The new BillMyParents® reloadable prepaid MasterCard® gives teens additional freedom and independence, enabling purchases wherever MasterCard® is accepted, both online and through traditional retail outlets. The BillMyParents® MasterCard® prepaid card eliminates the risks of carrying cash, and also gives parents a unique set of enhanced monitoring and safety functions over their teen’s card use. Coming soon, users can choose from many designs, including pictures of Rob Dyrdek.
Rob Dyrdek is a star athlete, entertainer and entrepreneur, well known to tens of millions of fans both in the US and around the world. Rob’s MTV reality show Fantasy Factory is wildly popular and he was a top five finisher in two recent Teens’ Choice Awards categories. Additionally through Dyrdek Enterprises, he oversees several companies selling toys, apparel and athletic equipment as well as Street League, a foundation dedicated to creating safe street skate environments. Rob also has millions of teen followers on Facebook, MySpace and Twitter.
"I’m excited to work with BillMyParents. I like what they do," said Mr. Dyrdek. "Giving teens freedom to pick what they want and also letting parents in on that, I think it gives parents insight into what their kids really want and gives teens the opportunity to learn financial responsibility. It just makes sense."
"Rob is an ideal celebrity athlete to promote BillMyParents. He is admired and followed by millions of teens, and his ability to promote and communicate a positive message to his fan base is unsurpassed," noted Jim Collas, President and CEO of BillMyParents®. "Rob’s appeal extends to parents because he sets a light-hearted example to kids to work hard in order to achieve their goals. Parents also appreciate Rob’s numerous philanthropic undertakings."
BillMyParents® provides innovative payment solutions for teens and parents. With the Supervised Shopping™ program, teens shop online and pick out specific items they want by using the convenient BillMyParents® payment button on partner retail sites. Parents have the option of providing an allowance-like spending limit in advance, or are notified via email or text to approve or deny each purchase requested through the simple, safe and easy-to-use automated system.
The new BillMyParents® reloadable prepaid MasterCard® gives teens additional freedom and independence, enabling purchases wherever MasterCard® is accepted, both online and through traditional retail outlets. The BillMyParents® MasterCard® prepaid card eliminates the risks of carrying cash, and also gives parents a unique set of enhanced monitoring and safety functions over their teen’s card use. Coming soon, users can choose from many designs, including pictures of Rob Dyrdek.
Tuesday, February 16, 2010
General Markets looking bleak
I follow a lot of commentary about the "general Markets" because when they are slipping people frown away from higher risk investments...below is an except from a newsletter I subscribe to from one of the most accurate market readers around and the best I have followed over the last 12 years....
"It looks to me that the stock market will be testing long-term support for the major indexes at the 200-day moving averages. For the S&P 500 index this support is at 1043, which most probably will be tested by the end of this month.
What makes this market dangerous is that the Fed must drive commodity prices down as fast as possible before they have chance to rise during the spring and summer months. This is why the money supply is plunging which is helping to cause stock prices to fall. As the technical underpinnings continue to weaken, the risk for a sharp decline in stock prices is all the more real.
Caution: We Are Now About to Enter the Bust Cycle
President Barack Obama said in his State of the Union address that the “worst of the economic storm has passed, but the devastation remains.” What the president didn’t say is that financial storms happen with regularity in a secular bear market, as we’ve seen over the past decade.
Economic growth is not linear; it’s cyclical in nature and there are economic cycles. Recoveries die and new economic storms follow, in boom/bust cycles. This recovery is much different than past recoveries in that the consumer is not really participating.
More than 70% of the gross domestic product (GDP) in previous recoveries has come from consumer spending. But this time it’s different, as we are surely not seeing that happen now.
In the 4Q09 GDP, consumer spending contracted from the previous quarter. In spite of that contraction, GDP rose sharply because the government spent money like a drunken sailor on payday. There was a sharp increase in business inventories, adding significantly to the GDP number, which was the result of businesses anticipating an increase in demand by consumers.
Last, the Fed’s strategy of undercutting the dollar gives a boost to U.S. exports, which also pumps up the GDP. That trick is really a game of smoke and mirrors, because pushing down the dollar does nothing to whet the appetite for goods and services by the consumer.
As long as unemployment hovers around 10%, consumer demand for goods and services will be anemic. Without consumer demand, businesses will cease stockpiling inventory and eventually cut back, causing a hit to GDP.
Keep your eye on a rising dollar. Our GDP is now much stronger than Europe’s GDP. But as the U.S. dollar strengthens, our exports will no longer be attractive to European markets, and that, too, will cause a further hit to GDP. Government spending, which has directly given money to banks so they can support the stock market, is coming to an end. As President Obama wants the banks to pay for their past misdeeds, investment banks are starting to sell stocks into rising markets and trying to further add liquidity to their balance sheets.
All the economic reports I’m reading lead me to one conclusion: we are now about to enter the bust cycle. And that is why I am so focused on risk.
R-I-S-K is not a dirty four-letter word
Risk is defined as the effect of uncertainty on objectives. My objective is to build wealth and to keep it. In order to do that, we need a plan to manage risk so that we can protect ourselves from the coming financial storm and try to profit from it. Risk management can be considered the identification, assessment, and prioritization of risks followed by the coordinated application to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
If you are blind to these risks, you can’t manage them, and this is why greed is so damaging – because we ignore risks and the laws of probability, and that’s when you start to really lose money. The first step is to identify risk, and in addition to the risk I see in the stock market, the energy market is also bubbling over with potential pitfalls.
At the end of December, a number of risk factors in my technical models were flashing. They were indicating that the month of January was going to be a tough month for energy. In the early part of January, crude oil prices traded at $84 a barrel. If we have a repeat of surging oil prices this coming spring, it will really destroy our economy. It will act as a weight, just as the housing market dealt a blow to the economy in 2008.
When crude oil prices reached $84 a barrel in January, a chain of events was set in motion. It started with the Fed talking up the dollar, followed by a series of speeches to the markets that interest rates might need to be raised sooner rather than later. This had the effect of driving down commodity prices. In addition, the Fed sent a letter to the banking community stressing interest rate risk management in the event the Fed is forced to raise interest rates in the near future.
In late December, the Fed began aggressively cutting the money supply in order to undercut oil prices. This tells me that corporate earnings for the first quarter of 2010 will not look pretty. As a consequence, the U.S. dollar reversed its decline and is now trending higher. Crude oil prices have also retreated more than $10 a barrel since trading at $84 in the beginning of the year. Gold is down more than $120 an ounce, and the S&P 500 is off close to 6.5% from its 2010 high.
China is keenly aware of the risks of soaring commodity prices and the impact of increases on food. The government has informed Chinese banks that it wants them to restrict lending in the next few months. The iShares MSCI Emerging Markets Index (EEM) fell 11.2% in 13 trading days in January.
I have been sharing with you since last September these risks should crude oil prices begin to decline. If crude oil were allowed to continue to rise, the table would be set for a very possible double-dip recession. That is why the president’s economic team is burning the midnight oil while trying to find a way out of this mess.
As a sector, the financial sector is lagging most sectors and is clearly breaking down and testing its 200-day moving averages. A breach below this long-term support could lead us into the next bust cycle.
Be Prepared: The Technical Indicators Are Deteriorating
At the end of December, a number of technical risks presented themselves. The charts showed that bullish sentiment of investment advisory newsletters had reached extreme bullish levels. As a contrary indicator, this was a clear warning signal that a sharp correction was soon to follow. Whenever the herd is on one side of the market, the predators begin to sell into the bullish enthusiasm.
Over the past few weeks, I have pointed out the MACD (moving averages convergence divergence) indicators were maxed out and beginning to roll over. We see this on both an intermediate-term and a long-term basis. The monthly stochastic is extremely overbought, suggesting market risk is extremely high right now.
In January, these indicators continued to deteriorate, with all the major indexes now trending below their 50-day moving averages. As long as the 50-day moving averages are descending, market risk is increasing as the technical underpinnings of the market break down. This was not a great way to start the year.
We have to accept the situation – that it is the Fed’s and the government’s job to spin the economy in the most favorable light possible and continue to bang the gong and tell us that the economy is on the road to recovery.
It is something we all want, but keep this in the back of your mind: the government is a master at psychology and motivation, and in an economy like this, psychology is a big part of getting people to feel better about things.
Yet, the inescapable fact is, we have seen an enormous loss of wealth over the past decade and especially the past couple of years, and regardless of the spin, this wealth is not replaceable. People have considerably less wealth, and their access to borrowing has been cut off. That is one of the main reasons why big banks are charging 30% for credit cards loans and have ceased lending money. They have a bird’s-eye view of the economy and see that it’s in dire straits regardless of what the GDP numbers are.
For those of you who believe cash is trash, I strongly disagree. I would rather make nothing on money than lose 10% of it in a bad investment. My goal is to minimize, monitor, and control the probability and/or impact of unfortunate events damaging our portfolios. If I do that successfully, at the start of the next boom cycle we will have cash to take advantage of the bargains the market will give us.
From my perspective, shorting the stock market should only be considered in a bear market, and the technical conditions have to warrant such a situation. My technical indicators are telling me that we are not in a bear market just yet. But as soon as my indicators give me the signal, there are several stocks and ETFs that are ripe to be shorted.
Are You Prepared for the Bear Market Ahead?
It’s imperative that you’re prepared for a moderate – or even significant – market pull-back that could begin at any time.
The technical indicators have continued to deteriorate over the first six weeks of 2010…and there is significant risk in the market right now."
"It looks to me that the stock market will be testing long-term support for the major indexes at the 200-day moving averages. For the S&P 500 index this support is at 1043, which most probably will be tested by the end of this month.
What makes this market dangerous is that the Fed must drive commodity prices down as fast as possible before they have chance to rise during the spring and summer months. This is why the money supply is plunging which is helping to cause stock prices to fall. As the technical underpinnings continue to weaken, the risk for a sharp decline in stock prices is all the more real.
Caution: We Are Now About to Enter the Bust Cycle
President Barack Obama said in his State of the Union address that the “worst of the economic storm has passed, but the devastation remains.” What the president didn’t say is that financial storms happen with regularity in a secular bear market, as we’ve seen over the past decade.
Economic growth is not linear; it’s cyclical in nature and there are economic cycles. Recoveries die and new economic storms follow, in boom/bust cycles. This recovery is much different than past recoveries in that the consumer is not really participating.
More than 70% of the gross domestic product (GDP) in previous recoveries has come from consumer spending. But this time it’s different, as we are surely not seeing that happen now.
In the 4Q09 GDP, consumer spending contracted from the previous quarter. In spite of that contraction, GDP rose sharply because the government spent money like a drunken sailor on payday. There was a sharp increase in business inventories, adding significantly to the GDP number, which was the result of businesses anticipating an increase in demand by consumers.
Last, the Fed’s strategy of undercutting the dollar gives a boost to U.S. exports, which also pumps up the GDP. That trick is really a game of smoke and mirrors, because pushing down the dollar does nothing to whet the appetite for goods and services by the consumer.
As long as unemployment hovers around 10%, consumer demand for goods and services will be anemic. Without consumer demand, businesses will cease stockpiling inventory and eventually cut back, causing a hit to GDP.
Keep your eye on a rising dollar. Our GDP is now much stronger than Europe’s GDP. But as the U.S. dollar strengthens, our exports will no longer be attractive to European markets, and that, too, will cause a further hit to GDP. Government spending, which has directly given money to banks so they can support the stock market, is coming to an end. As President Obama wants the banks to pay for their past misdeeds, investment banks are starting to sell stocks into rising markets and trying to further add liquidity to their balance sheets.
All the economic reports I’m reading lead me to one conclusion: we are now about to enter the bust cycle. And that is why I am so focused on risk.
R-I-S-K is not a dirty four-letter word
Risk is defined as the effect of uncertainty on objectives. My objective is to build wealth and to keep it. In order to do that, we need a plan to manage risk so that we can protect ourselves from the coming financial storm and try to profit from it. Risk management can be considered the identification, assessment, and prioritization of risks followed by the coordinated application to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
If you are blind to these risks, you can’t manage them, and this is why greed is so damaging – because we ignore risks and the laws of probability, and that’s when you start to really lose money. The first step is to identify risk, and in addition to the risk I see in the stock market, the energy market is also bubbling over with potential pitfalls.
At the end of December, a number of risk factors in my technical models were flashing. They were indicating that the month of January was going to be a tough month for energy. In the early part of January, crude oil prices traded at $84 a barrel. If we have a repeat of surging oil prices this coming spring, it will really destroy our economy. It will act as a weight, just as the housing market dealt a blow to the economy in 2008.
When crude oil prices reached $84 a barrel in January, a chain of events was set in motion. It started with the Fed talking up the dollar, followed by a series of speeches to the markets that interest rates might need to be raised sooner rather than later. This had the effect of driving down commodity prices. In addition, the Fed sent a letter to the banking community stressing interest rate risk management in the event the Fed is forced to raise interest rates in the near future.
In late December, the Fed began aggressively cutting the money supply in order to undercut oil prices. This tells me that corporate earnings for the first quarter of 2010 will not look pretty. As a consequence, the U.S. dollar reversed its decline and is now trending higher. Crude oil prices have also retreated more than $10 a barrel since trading at $84 in the beginning of the year. Gold is down more than $120 an ounce, and the S&P 500 is off close to 6.5% from its 2010 high.
China is keenly aware of the risks of soaring commodity prices and the impact of increases on food. The government has informed Chinese banks that it wants them to restrict lending in the next few months. The iShares MSCI Emerging Markets Index (EEM) fell 11.2% in 13 trading days in January.
I have been sharing with you since last September these risks should crude oil prices begin to decline. If crude oil were allowed to continue to rise, the table would be set for a very possible double-dip recession. That is why the president’s economic team is burning the midnight oil while trying to find a way out of this mess.
As a sector, the financial sector is lagging most sectors and is clearly breaking down and testing its 200-day moving averages. A breach below this long-term support could lead us into the next bust cycle.
Be Prepared: The Technical Indicators Are Deteriorating
At the end of December, a number of technical risks presented themselves. The charts showed that bullish sentiment of investment advisory newsletters had reached extreme bullish levels. As a contrary indicator, this was a clear warning signal that a sharp correction was soon to follow. Whenever the herd is on one side of the market, the predators begin to sell into the bullish enthusiasm.
Over the past few weeks, I have pointed out the MACD (moving averages convergence divergence) indicators were maxed out and beginning to roll over. We see this on both an intermediate-term and a long-term basis. The monthly stochastic is extremely overbought, suggesting market risk is extremely high right now.
In January, these indicators continued to deteriorate, with all the major indexes now trending below their 50-day moving averages. As long as the 50-day moving averages are descending, market risk is increasing as the technical underpinnings of the market break down. This was not a great way to start the year.
We have to accept the situation – that it is the Fed’s and the government’s job to spin the economy in the most favorable light possible and continue to bang the gong and tell us that the economy is on the road to recovery.
It is something we all want, but keep this in the back of your mind: the government is a master at psychology and motivation, and in an economy like this, psychology is a big part of getting people to feel better about things.
Yet, the inescapable fact is, we have seen an enormous loss of wealth over the past decade and especially the past couple of years, and regardless of the spin, this wealth is not replaceable. People have considerably less wealth, and their access to borrowing has been cut off. That is one of the main reasons why big banks are charging 30% for credit cards loans and have ceased lending money. They have a bird’s-eye view of the economy and see that it’s in dire straits regardless of what the GDP numbers are.
For those of you who believe cash is trash, I strongly disagree. I would rather make nothing on money than lose 10% of it in a bad investment. My goal is to minimize, monitor, and control the probability and/or impact of unfortunate events damaging our portfolios. If I do that successfully, at the start of the next boom cycle we will have cash to take advantage of the bargains the market will give us.
From my perspective, shorting the stock market should only be considered in a bear market, and the technical conditions have to warrant such a situation. My technical indicators are telling me that we are not in a bear market just yet. But as soon as my indicators give me the signal, there are several stocks and ETFs that are ripe to be shorted.
Are You Prepared for the Bear Market Ahead?
It’s imperative that you’re prepared for a moderate – or even significant – market pull-back that could begin at any time.
The technical indicators have continued to deteriorate over the first six weeks of 2010…and there is significant risk in the market right now."
Tuesday, December 1, 2009
Conference Call Dec. 3rd- Powerpoint presentation
So much is going on that Jim wants to do another conference call/Webinar...
Thursday December 3rd- 11 A.M. PST
Thursday December 3rd- 11 A.M. PST
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Monday, November 30, 2009
News: BillMyParents™ and Offerpal Media form a strategic partnership to provide innovative payment solutions for tweens and teens online
San Diego, CA – November 30, 2009 – Socialwise, Inc. (OTCBB:SCLW) today announced that it has entered into a strategic partnership with Offerpal Media ( www.offerpal.com), the leading provider of virtual currency monetization solutions for more than 160 million users on social networks, online games, and virtual worlds.
The two companies will work together to promote their existing payment solutions, as well as develop new payment programs specifically for the teen and tween market. Offerpal will feature BillMyParents on its proprietary monetization platform as an alternate payment solution alongside Visa, MasterCard, PayPal and others, providing teens and tweens with an easy way to acquire virtual currency across Offerpal’s network of 2,000+ publishers. The virtual currency will be spent on items such as virtual gifts, subscriptions, game-play upgrades, and other virtual goods.
BillMyParents and Offerpal will also collaborate to launch innovative programs that will expand their reach into the teen and tween online payment solutions market. "We plan to create effective solutions by combining the unique attributes of the BillMyParents youth payment system, along with Offerpal’s leading position in online monetization," commented Jim Collas, CEO of Socialwise. "This partnership could take online revenues from the tween and teen market segments to a new level."
"BillMyParents has developed the most effective parent-approved payment system on the Web, and we are excited to partner with them to help provide safe, secure payment options for the millions of teens and tweens playing social games across the Offerpal network," said George Garrick, CEO of Offerpal Media.Tuesday, November 24, 2009
News Coming
Been hearing from a few of you lately....Sorry for the delay. Things have been nuts.
There is actually a lot to talk about (all very good) regarding BillMyParents, including the launch of the debit card. Soft launch of the debit card is set to hit prior to end of the year, maybe sooner. We also will be seeing quite a few celebrity endorsments. Not to mention, despite liquidating (due to a court order regarding a divorce) of one of the top shareholders, many others have been buying.
I will try to update in the next week with some more specific news....
There is actually a lot to talk about (all very good) regarding BillMyParents, including the launch of the debit card. Soft launch of the debit card is set to hit prior to end of the year, maybe sooner. We also will be seeing quite a few celebrity endorsments. Not to mention, despite liquidating (due to a court order regarding a divorce) of one of the top shareholders, many others have been buying.
I will try to update in the next week with some more specific news....
Thursday, September 17, 2009
BillMyParents Goes Live with gPotato and Artix Entertainment
San Diego, CA – August 16, 2009 – Socialwise, Inc. (OTCBB:SCLW) today announced that its BillMyParents youth payment system has launched with the first two of five previously announced youth gaming partners. BillMyParents is going live with Artix Entertainment’s AdventureQuest Worlds (www.AQ.com), one of several web-based games owned by Artix Entertainment, and Gala-Net’s gPotato online games portal (www.gpotato.com). This marks the first time BillMyParents is available on third party sites. BillMyParents also expects to launch with Habbo, Outspark, and other yet-to-be announced online youth gaming sites in the near future. This launch with two significant youth gaming partners marks the beginning of the company’s multi-phased plan to quickly build a user base across multiple markets and establish BillMyParents as the leading youth payment system.
BillMyParents is now available to millions of gamers who play on Gala-Net’s gPotato online games and Artix Entertainment’s AdventureQuest Worlds. Teens and tweens can use BillMyParents to purchase virtual goods and virtual currency for game play upgrades inside Gala-Net’s gPotato online game portal and Artix Entertainment’s AdventureQuest Worlds’ virtual game worlds. The innovative BillMyParents payment system makes purchasing items an extremely simple process. Once a player has made their selection, BillMyParents sends an email notification to their parent, requesting approval of the purchase and completion of the transaction. The parent then has the option to deny their child’s request or to use a built-in chat function to ask for more information before making a final decision. To complete the transaction, the parent simply enters their payment information. The whole process can be completed within minutes without the teen ever gaining access to sensitive credit card details or other personal information.
“This aggressive drive into the youth gaming market is the beginning of our multi-phase plan to quickly build a user base, which can be leveraged across multiple markets,” commented Jim Collas, CEO of Socialwise. “Launching with Gala-Net and Artix Entertainment is a key step that builds on our long term strategy to become the most convenient and secure payment option for youth oriented online games. This is the first of several integrations planned in the coming weeks with other partners that will expose BillMyParents to a large number of teens and tweens in the online gaming space.”Sunday, August 9, 2009
SCLW Buzz- New member joining?
Latest buzz I have been hearing is that we have another big name member joining the company with vast experience in the Teen/tween market. Although that narrows it down to a few thousand people, I'm going to go out on a limb and say its probably a former executive in the Video gaming, Skateboarding, or clothing industry that deals with a lot of teen marketing.
I also understand theres talk of a big name X games sports figure along the lines of a Travis Pastrana or Tony Hawk also coming on board in some way. We will see if this is just talk or real news probably within a couple weeks. Despite the selling we have had last week, SCLW continues its strong hold on .70 ish. Won't take much to push it, and maybe this news will be it.
I also understand theres talk of a big name X games sports figure along the lines of a Travis Pastrana or Tony Hawk also coming on board in some way. We will see if this is just talk or real news probably within a couple weeks. Despite the selling we have had last week, SCLW continues its strong hold on .70 ish. Won't take much to push it, and maybe this news will be it.
Wednesday, August 5, 2009
Markets Rally... SCLW next?
We are seeing a strong rally continue on the general markets signaling this might not be a false Bull Run or a dead cat bounce, but an actual sustainable bull market. Jury is still out if this will hold, but indicators are that it will. Summers generally signal sell offs, yet we continue to see gains meaning people and institutions see many opportunities that are deemed to good to pass on.
What this means for the penny stocks is that people are ready to take risks again. SCLW has held its ground despite some opportunities for decline. With confidence back, its not going to take much to get people to chase the stock again. Look for some good news we know is coming to start this next push....
Let me know if you have any questions.
What this means for the penny stocks is that people are ready to take risks again. SCLW has held its ground despite some opportunities for decline. With confidence back, its not going to take much to get people to chase the stock again. Look for some good news we know is coming to start this next push....
Let me know if you have any questions.
Wednesday, July 15, 2009
Notes from Conference Call
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)
Projected milestones:
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.
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)
Projected milestones:
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.
Monday, July 6, 2009
After a slow month, some more great News
A slow and uneventful month as we hold the line at the .65-.75 support level. Not A whole lot going on with the stock. However I did want to update everyone while I had the chance on some recent developments on the company.
Recently Jim Collas stopped by at a small private function; without shareholders to impress, that I was attending. Speaking and listening to him only confirmed my suspicion that the company is in the perfect position despite what we see in the stock price. Jim remains extremely optimistic despite the lull in the stock because he knows what is happening behind the scenes with regards to the company.
Im sure many of you understand that on the small caps (penny stocks), share price has little to do with how the company is performing. In most cases a run up in share price can make one think that the company is doing well, when the company hasnt done anything (in some cases the only thing they have done is fraudulent). What we saw last summer with SCLW was true in the regard that the company hadnt launched its product, yet the stock went from .70 to $2.75+. They hadnt done anything. It was running on anticipation OF Anticipation! Others run on a "PUMP AND DUMP". (If your not familiar with this term, please click on it.) Just to reiterate if SCLW was a pump and dump....we would be sitting under .05 right now....
However this also can be true in the opposite sense, as we have this summer where the company is hitting major accomplishments, yet the stock hasnt caught up. This has to do with many factors, one of the main ones being investors unwillingness to take as many chances in this environment. (The media/Wall Street is telling us how great the stocks are doing, knowing that most of the fundamentals havent changed for the better. Its a false rally. Possibly a "Dead cat bounce" type move.) This would be true of Hedge funds as well. They would rather make another "hot play" than sit on a stock that hasnt started a run yet.
Talking with Jim I got a feeling that something major is just on the horizon. One of the main underwriters was also at the gathering , whom I know, was saying the same thing about the share price, that positive things are happening. I think as the company begins to perform , we are going to see the strong buying come on in force that has been waiting for the right moment. This will spur the run as regular investors clamor in to avoid "missing out". Of Course the short sellers will also show betting on a drop, but that is to be expected....its still a "market". Think of it as Poker game. Big buying doesnt want to show its hand to early and risk loosing ground (on the stock price). As far as time line that I can gather... it still remains end of the year. But I had one individual tell me "it could happen at any time".
Jim is careful not to "cross the line" in information he disseminates however from the buzz I hear outside the company is that big retailers are lining up VERY excited about what BMP offers.
It is my understanding is that the only "hold up" when it comes to major retailers like Amazon signing, is that they want to know the bugs are worked out before going "all in" with time and money. This will open the door to smaller retailers testing the waters (so to speak) as the first full service line comes on. This is happening now with the likes of Artix (not really a small company). I think we will encounter a snow ball effect when this starts to roll. Once one major name comes on, you will see many others lining up. Keep in mind, the company is finally making money (small amount, but now producing revenue).
Every company that has seen how BMP works has been excited. No one has thought it was a waste or wouldnt work! Sure there has been a few negative blogs, but if you read the complaints (especially from parents) they have little idea on how this works and will work for them. They still think it just "allows kids to bombard parents with request".... this could happen if they raise spoiled kids and dont use the resources and parameters put in place, but couldnt be farther from the truth. Once parents understand how to use it, it becomes a tool they can use....even if it is only to let junior pick a gift out for his father on his fathers birthday using a limited budget. I could not tell you how many people I heard 5-6 years ago saying they would "NEVER allow their kids to have a cell phone"...yet due to convenience of calling home or a parent checking in with their teenager, they have changed their mind and now love it. I guarantee this will happen with BMP for the small amount of doubters (who raise the biggest stink.) I have yet to hear a parent, investor, or friend doubt that this is a GREAT product when they fully understand how it works. Not one.
Hope everyone had a great 4th...as things pick up, so will my blog posts. Again let me know if you have any questions.
Recently Jim Collas stopped by at a small private function; without shareholders to impress, that I was attending. Speaking and listening to him only confirmed my suspicion that the company is in the perfect position despite what we see in the stock price. Jim remains extremely optimistic despite the lull in the stock because he knows what is happening behind the scenes with regards to the company.
Im sure many of you understand that on the small caps (penny stocks), share price has little to do with how the company is performing. In most cases a run up in share price can make one think that the company is doing well, when the company hasnt done anything (in some cases the only thing they have done is fraudulent). What we saw last summer with SCLW was true in the regard that the company hadnt launched its product, yet the stock went from .70 to $2.75+. They hadnt done anything. It was running on anticipation OF Anticipation! Others run on a "PUMP AND DUMP". (If your not familiar with this term, please click on it.) Just to reiterate if SCLW was a pump and dump....we would be sitting under .05 right now....
However this also can be true in the opposite sense, as we have this summer where the company is hitting major accomplishments, yet the stock hasnt caught up. This has to do with many factors, one of the main ones being investors unwillingness to take as many chances in this environment. (The media/Wall Street is telling us how great the stocks are doing, knowing that most of the fundamentals havent changed for the better. Its a false rally. Possibly a "Dead cat bounce" type move.) This would be true of Hedge funds as well. They would rather make another "hot play" than sit on a stock that hasnt started a run yet.
Talking with Jim I got a feeling that something major is just on the horizon. One of the main underwriters was also at the gathering , whom I know, was saying the same thing about the share price, that positive things are happening. I think as the company begins to perform , we are going to see the strong buying come on in force that has been waiting for the right moment. This will spur the run as regular investors clamor in to avoid "missing out". Of Course the short sellers will also show betting on a drop, but that is to be expected....its still a "market". Think of it as Poker game. Big buying doesnt want to show its hand to early and risk loosing ground (on the stock price). As far as time line that I can gather... it still remains end of the year. But I had one individual tell me "it could happen at any time".
Jim is careful not to "cross the line" in information he disseminates however from the buzz I hear outside the company is that big retailers are lining up VERY excited about what BMP offers.
It is my understanding is that the only "hold up" when it comes to major retailers like Amazon signing, is that they want to know the bugs are worked out before going "all in" with time and money. This will open the door to smaller retailers testing the waters (so to speak) as the first full service line comes on. This is happening now with the likes of Artix (not really a small company). I think we will encounter a snow ball effect when this starts to roll. Once one major name comes on, you will see many others lining up. Keep in mind, the company is finally making money (small amount, but now producing revenue).
Every company that has seen how BMP works has been excited. No one has thought it was a waste or wouldnt work! Sure there has been a few negative blogs, but if you read the complaints (especially from parents) they have little idea on how this works and will work for them. They still think it just "allows kids to bombard parents with request".... this could happen if they raise spoiled kids and dont use the resources and parameters put in place, but couldnt be farther from the truth. Once parents understand how to use it, it becomes a tool they can use....even if it is only to let junior pick a gift out for his father on his fathers birthday using a limited budget. I could not tell you how many people I heard 5-6 years ago saying they would "NEVER allow their kids to have a cell phone"...yet due to convenience of calling home or a parent checking in with their teenager, they have changed their mind and now love it. I guarantee this will happen with BMP for the small amount of doubters (who raise the biggest stink.) I have yet to hear a parent, investor, or friend doubt that this is a GREAT product when they fully understand how it works. Not one.
Hope everyone had a great 4th...as things pick up, so will my blog posts. Again let me know if you have any questions.
Wednesday, June 3, 2009
Socialwise Launches the BillMyParents Payment System to Wide Public Interest and Acclaim
SAN DIEGO--(BUSINESS WIRE)--Last month Socialwise, Inc. (OTCBB:SCLW - News) publicly launched BillMyParents, an innovative online youth payment system that gives teens the freedom to shop online and parents the control over these purchases - all in a simple, automated system that keeps credit card numbers and other personal information safe and secure. In the two weeks since launch, public interest has been strong. A number of major retailers have expressed interest in integrating the service into their online environments, consumers have started signing up for BillMyParents and coverage from the media has been very positive overall.
Related Quotes
| Symbol | Price | Change |
|---|---|---|
| SCLW.OB | 0.70 | +0.01 |
What the media is saying about BillMyParents:
- “As inclined as I am to disparage systems that put the Web in the middle of the parent/child relationship, I actually think this idea works. It doesn't reduce or remove communication in a family, in fact it could increase it. And it makes it easier to mark, track, and purchase online items.” – CNET, May 18, 2009
- “I like the idea for two big reasons: It creates a paper trail for the things you buy your children - so you'll know pretty quickly how much you're really spending on their "needs" - and it forces the child to justify what he wants, in writing. Rather than letting your kids just whine in a personal audience in front of you, BillMyParents gives you a legitimate outlet to tell them to use to send you a formal request for whatever it is they want, and you'll be able to consider it on your own time. Whining averted.” – Yahoo! Tech, May 21, 2009
- “If successful, BillMyParents could shift a bigger chunk of that cash to e-commerce sites.” – CNBC Consumer Nation, May 19, 2009
- “Ah, youth. How free and easy it all seems. Especially after the launch of a new payments system, BillMyParents.” – Reuters, May 18, 2009
- “On the surface it sounds like an ingenious idea, one that any online vendor should jump on…” – WebProNews, May 18, 2009
- “Bill My Parents works in a manner that will be familiar to employees of large companies that use online expense tracking systems. Kids will find something they want to buy online, but instead of going through a traditional credit card-based payment system, they click a “bill my parents” button, which sends an email about the potential purchase to a selected parent. If the parent approves the purchase, the parent will be billed for the purchase to his or her own credit card.” – Wall Street Journal Digits Blog, May 19, 2009
About BillMyParents
BillMyParents is the innovative new youth payment system that lets teens and tweens shop online without a credit card, while giving parents the ability to easily track and control their teen’s spending. With a simple email request and approval system, BillMyParents provides the independence young people crave and the control over spending that parents want - while ensuring that credit card numbers and personal information are kept safe and secure. BillMyParents is currently available as a payment system in select online retail environments, in addition to social network, virtual world and online gaming Web sites. BillMyParents is a division of Socialwise (OTCBB:SCLW - News). For more information: www.billmyparents.com.
Thursday, May 28, 2009
SCLW- A new support Level being established
Although I usually avoid the technical side of stocks, there is a validity of how they show trends. Nearly any stock that makes a large rise in a short time will experience a pull back and re establish a ground floor (or support level). Lately selling off has far outweighed buying as profit takers take money off the table.
After a 400% run in 4 weeks, you expect a pull back. Right now the support is sitting right in the lower .60's which is where we have been sitting. Sure, its better than the old support of .30, but im sure all of you would agree it would have been better to be sitting around .85 support that it held for a little while. With no real resistance at the time till nearly $1.20, I think many were hoping we could gain support just under $1 and hold.
What I think everyone is holding their breath for is the inevitable run once the street (or regular investors) get wind of the company and start to come in. Majority of the support remains within a group.
It wont take much outside buying to send this flying, but I dont think any of us will see it coming. It could be from just one article or press release that causes it. But it MUST be maintained with momentum, or you can have another drop.
The refreshing part is that the company has never "pumped" the stock. This company has refused to push for false runs. No mass emails, no IR firms sending out mailers and faxes. While this generates liquidity, it also will cause the stock to drop massively afterwords. When you have a legit company, you dont need to resort to this. The right way is to continue to get the company out there in the publics eye for its products not its stock potencial.
Right now we have some resistance below a $1 but not much. It wont take much to get us back over a $1.
Hopefully we end the week up, not another down week.
After a 400% run in 4 weeks, you expect a pull back. Right now the support is sitting right in the lower .60's which is where we have been sitting. Sure, its better than the old support of .30, but im sure all of you would agree it would have been better to be sitting around .85 support that it held for a little while. With no real resistance at the time till nearly $1.20, I think many were hoping we could gain support just under $1 and hold.
What I think everyone is holding their breath for is the inevitable run once the street (or regular investors) get wind of the company and start to come in. Majority of the support remains within a group.
It wont take much outside buying to send this flying, but I dont think any of us will see it coming. It could be from just one article or press release that causes it. But it MUST be maintained with momentum, or you can have another drop.
The refreshing part is that the company has never "pumped" the stock. This company has refused to push for false runs. No mass emails, no IR firms sending out mailers and faxes. While this generates liquidity, it also will cause the stock to drop massively afterwords. When you have a legit company, you dont need to resort to this. The right way is to continue to get the company out there in the publics eye for its products not its stock potencial.
Right now we have some resistance below a $1 but not much. It wont take much to get us back over a $1.
Hopefully we end the week up, not another down week.
More Online and published Talk
Quite a lot is being said about Bill My Parents. Just by googling "Bill My Parents" you will come up with thousands of hits now. Good and bad people are talking....but they are talking.
Here was another print/ Online article regarding BMP that the writer weighs both sides of what his paper has been hearing. From the Joplin Globe:
Published May 27, 2009 06:47 pm - A new Web site is aimed at capturing some of the $40 billion that American teens and tweens annually spend on purchases that they research online but purchase offline because they don’t have credit cards to complete the online transaction.
Mat Anderson: You can just "Bill My Parents"
Here was another print/ Online article regarding BMP that the writer weighs both sides of what his paper has been hearing. From the Joplin Globe:
Published May 27, 2009 06:47 pm - A new Web site is aimed at capturing some of the $40 billion that American teens and tweens annually spend on purchases that they research online but purchase offline because they don’t have credit cards to complete the online transaction.
Mat Anderson: You can just "Bill My Parents"
In case your teen hasn’t already brought it to your attention, a new Web site called BillMyParents.com has just launched.
| |
It is aimed at capturing some of the $40 billion that American teens and tweens annually spend on purchases that they research online but purchase offline because they don’t have credit cards to complete the online transaction.
BillMyParents.com — the mere name of this site makes some parents uneasy — allows your teen to browse Amazon.com (and soon several other sites), and when he encounters an item he can’t live without, he can click the “BillMyParents” icon and enter a begging message that will likely include phrases such as “Please, please, please,” “I really need this because …” and “If you buy this for me I will …”
From there an e-mail will be sent directly to you allowing you to review the item(s) that your teen desires, leaving you to choose to either deny the request or complete the transaction by entering your credit-card information.
Like any new technological innovation, especially one that concerns young people and money, this new site has received both high praise and sharp criticism. Supporters of this site point out that it is a great tool for parents, as it allows them the final say on what their teen spends money on, and it also provides more security than letting teens borrow a parent’s credit card for purchases. Additionally, because the site utilizes Amazon.com, teens can be encouraged toward thriftiness by shopping around for the lowest price on an item. In many cases, teens may even opt to buy a used item rather than a new one.
However, there are drawbacks to the use of this site. While allowing teens and tweens to shop online in this way does streamline the process of buying things for your kids, the purely digital nature of it diminishes the ability for parents to use each of their child’s requests to sit down and talk about responsible shopping, spending and saving.
Additionally, this system does nothing to show young people how the real world works. I think there is a lot to be said for a young person saving her money to buy something she wants and then going through the actual process of handing over cash in exchange for the item. With the BillMyParents system, young people are excluded from the actual transaction and getting what they desire is reduced to a few mouse clicks and a pleading e-mail to Mom or Dad.
This absence of classic financial transactions in the lives of our youth is also a major contributor to rampant teen credit-card debt in our country. Many young people — and adults — don’t understand the consequences of their decisions and merely think of how easy it is to swipe a plastic card or enter some numbers on a Web site to get what they want. Unfortunately, it is this same culture of living beyond our means, not properly weighing our wants and needs and pushing the responsibility of footing the bill to someone else that has led to our nation’s current financial predicament.
Nonetheless, I’m not saying that BillMyParents.com is going to lead to the financial ruin of the next generation. I believe that this site will become extremely successful and is a useful way to simplify online shopping for some families.
But when new technology like this is being used by young people, it is important for parents to consider what messages it is sending to their kids and what teachable opportunities may be missed by transforming nagging trips to the mall to an inbox of purchase requests.
Wednesday, May 27, 2009
News on Yahoo Tech
BillMyParents lets kids and parents bond over shopping
I've yet to determine if this idea is genius or nightmare, but I have to give it credit for trying something new.
Put simply, BillMyParents is a startup with the goal of making it easier to let your kids beg you to buy them stuff.
With BillMyParents, little Teddy doesn't need to copy the URL of a product he wants and email it to you, he can virtually purchase the item himself -- contingent on your approval.
The idea: Teddy goes to a website that has BillMyParents enabled, and instead of completing the shopping process normally, he hits a button that sends the item straight to mom or dad. Teddy can offer a justification for why he needs the product, alongside information (automatically filled in) about the price of the item and the store that's selling it.
If the parent approves, the transaction continues. Otherwise, the deal is canceled and the kid gets grounded for wasting dad's time.
I like the idea for two big reasons: It creates a paper trail for the things you buy your children -- so you'll know pretty quickly how much you're really spending on their "needs" -- and it forces the child to justify what he wants, in writing. Rather than letting your kids just whine in a personal audience in front of you, BillMyParents gives you a legitimate outlet to tell them to use to send you a formal request for whatever it is they want, and you'll be able to consider it on your own time. Whining averted.
BillMyParents hopes to partner with merchants to add its button to their shopping sites. But for now, the only place you can use BillMyParents is on the company's own website, where it operates an Amazon affiliate store.
Is this something you would use in your family? Check it out here.
Friday, May 22, 2009
SCLW- NEWS Tracking
Monday May 18, 2009 was the launch of Socialwise’s BillMyParents web site. As our press release explains, Socialwise has established BillMyParents as a unique youth payment system on the web (see full text press release by clicking “In The News” to the left). In the coming months, Socialwise will be announcing new products, services, and capabilities for the BillMyParents.
Because Socialwise will be generating a significant amount of news, we have created an online News Coverage Tracking Service for your convenience. This will provide you with a centralized location to find news about BillMyParents and Socialwise.
In fact, since our Monday announcement, BillMyParents has obtained coverage from CNBC, The Wall Street Journal, and Reuters, among others. Please click on this link to see that coverage:
News Coverage Tracking Service Link
This site will be updated automatically each day, and I invite you to bookmark this site and check it frequently for new content
Thursday, May 21, 2009
SCLW- Pullback continuing?
I think everyone saw a pullback coming, but were hoping it would not pull us back this far. After nearly 400% gain in a month, this is expected. I guess thats why they call it free markets.....
Obviously you can see some of the pullback being profit takers stacked with some short sellers, but I also see the institutional buying pulling back their support. I would guess they are pulling the rug from under the sellers hoping to get cheap shares. Its a common tactic of Market makers. With bid support dwindling under very little pressure, thats what it is. Its a long term tactic for traders.
I would not be surprised if the short interest, which was only 1600 shares recently, is now above 50K. Its opening some great opportunities for people to get somes shares again cheaper. Many had felt they missed the great prices when we were trading above a $1, but here we are again.
Looking for Friday to close out the week strong and end the news worthy week even or up.
Obviously you can see some of the pullback being profit takers stacked with some short sellers, but I also see the institutional buying pulling back their support. I would guess they are pulling the rug from under the sellers hoping to get cheap shares. Its a common tactic of Market makers. With bid support dwindling under very little pressure, thats what it is. Its a long term tactic for traders.
I would not be surprised if the short interest, which was only 1600 shares recently, is now above 50K. Its opening some great opportunities for people to get somes shares again cheaper. Many had felt they missed the great prices when we were trading above a $1, but here we are again.
Looking for Friday to close out the week strong and end the news worthy week even or up.
Wednesday, May 20, 2009
Here they come CNBC.com article
Hitting Up Mom & Dad For Cash Is Just A Click Away
Published: Tuesday, 19 May 2009 | 4:03 PM ET
By: Christina Cheddar Berk
News Editor
News Editor
As if kids needed another way to hit up their parents for cash, a San Diego company is launching a new payment service called "BillMyParents" to make it easier for kids to shop online.
 |
| Source: billmyparents.com |
Socialwise [SCLW 0.93 
-0.08 (-7.92%) 
] CEO James Collas expects the service to appeal to kids as young as 10 years old, straight through to twentysomethings who are still tied to their parents' purse strings.
The system works through buttons next to items posted on online shopping sites. When selected, they allow kids to email or text a note to their parents about what they would like to buy. Parents then review the request and can approve or reject it. The system's designed to let parents keep their credit card information to themselves.
According to Harris Interactive, kids spend about $132 billion each year, and about $40 billion of that spending is researched online, but purchased at stores. Why? Teens often don't have access to a credit card to buy the products online themselves.
If successful, BillMyParents could shift a bigger chunk of that cash to e-commerce sites.
Still, the launch does face a few hurdles. First, it comes at a time when teen spending is being crimped by recession-pinched parents and a weak market for teen jobs. The effects of the softer spending have been especially apparent at teen apparel retailers such as Abercrombie & Fitch [ANF 26.55 
0.48 (+1.84%) ] .
Also, the company has yet to sign up any retail partners, but it is operating a shopping site powered by Amazon.com [AMZN 77.87 1.92 (+2.53%) ] through that merchant's associate program. The BillMyParents site essentially opens the door to the entire inventory on Amazon and gives potential retail partners a feel for how the program works.
The company does have a foothold in the world of online social networking and gaming. SocialWise has struck a deal with Artix Entertainment, Habbo, Outspark and RockYou!, among others. The partnership would make it easier for kids who visit those sites purchase virtual goods as part of the online game or social network experience.
As for Socialwise, the company's business model works a lot like Paypal. It gets a commission of anywhere from 3 to 5 percent of the purchase price for each transaction. However, parents also pay a 50-cent fee for every transaction they approve.
"What we're really pitching is the safety and security of the site as a service for the parents," says Collas, who was the former chief technology officer of Gateway.
"This is going to give parents a controlled way to scrutinize their children's spending," Collas says.
But will it pass the Mom test? Granted there is an advantage in finding a way to avoid passing Junior the plastic.
Oh, and what about "BillMyHusband" or "BillMyWife"? Collas has registered many other "BillMy" domains but he doesn't have any plans to veer from the youth demographic at this time. However, the company may expand into offering a debit card that can automatically be loaded with a weekly allowance.
Tuesday, May 19, 2009
SCLW- Penny Stocks - Wall Street Journal Blog
This was just released this morning on the www.WSJ.com (Wall Street Journal).
Letting Web-Savvy Kids “Bill My Parents”
Internet companies are trying to come up with a solution for one of the classic headaches of parenting: kids begging for money.
On Monday, a service called “Bill My Parents” launched to allow kids to virtually send online purchases to parents for approval and payment — instead of asking mom and dad for their credit cards.
The service, operated by San Diego-based Socialwise Inc., aspires to remove some of the hurdles that currently keep kids from buying things online. The company points to research by Harris Interactive, which says that American teens and tweens spend $40 billion annually on purchases that they researched online but purchased offline, at least partly because they didn’t have any way to complete the purchase online.
Bill My Parents works in a manner that will be familiar to employees of large companies that use online expense tracking systems. Kids will find something they want to buy online, but instead of going through a traditional credit card-based payment system, they click a “bill my parents” button, which sends an email about the potential purchase to a selected parent. If the parent approves the purchase, the parent will be billed for the purchase to his or her own credit card. “It automates a process that already exists and is tedious,” says Bill My Parents CEO James Collas.
For now, the service works just for purchases on Amazon.com — and only through a special “Bill My Parents” shop for the site, which you can find here. But Collas says that he’s gotten interest from a number of sites to integrate a “bill my parents” button right into regular e-commerce sites and into online games. Eventually, he also plans to connect the service into social networking sites, and unveil a service so kids can collect and spend allowances and cash gifts through the online service.
The company makes money by charging a 3% to 5% commission to a merchant for a sale, and also charging parents 50 cents to complete a transaction.
There’s growing competition to make e-commerce easier for kids. EBay’s PayPal, which normally offers online payment services to people 18 and older, is currently testing a student account in the U.S. for children aged 13 and up. The service offers a subset of the features of its regular payment service, including use of its mobile application and the ability to receive a PayPal debit card. Some banks also already offer special debit cards for teenagers.
And Apple’s iTunes music store and some online game publishers long ago figured out the simplest strategy of all: sell gift cards at convenience stores that kids can redeem online. Even old fashioned cash allowances can pay for those.
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