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 MovieTickets.com. 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 MovieTickets.com," commented Jim Collas, president and CEO of BillMyParents. "MovieTickets.com 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 MovieTickets.com 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 MovieTickets.com. "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.
Thursday, February 17, 2011
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.
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.
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.
Saturday, November 27, 2010
New Funding round
Press Release Source: Socialwise, Inc. On Wednesday November 24, 2010, 9:35 am EST
SAN DIEGO, CA--(Marketwire - 11/24/10) - Socialwise, Inc. (OTC.BB:SCLW - News), whose flagship brand BillMyParents® serves as their innovative teen commerce solution, is pleased to announce that they have successfully closed their previously announced offering and received additional gross funding totaling $3.4 MM. Maxim Group LLC acted as the Placement Agent in connection with the offering.
"We have laid down a solid brand awareness foundation this summer and fall in the social media, action sports retail and consumer event spaces with the teen demographic to create awareness about our teen payment solutions," commented Jim Collas, President and CEO of Socialwise, Inc. "This round of funding is intended to allow us to fully engage our national marketing and customer acquisition programs for our premium products and to quickly gain momentum in the marketplace."
The Company is poised to announce a partnership with a significant online entertainment service company intended to appeal to teens' strong desire for spending independence and which supports the viability and rapid growth of the teen prepaid card category. More large-scale marketing initiatives via targeted advertising, pro athlete-endorsed projects, social media outlets, consumer events and sponsorships are underway and will continue to roll out through 2011.
SAN DIEGO, CA--(Marketwire - 11/24/10) - Socialwise, Inc. (OTC.BB:SCLW - News), whose flagship brand BillMyParents® serves as their innovative teen commerce solution, is pleased to announce that they have successfully closed their previously announced offering and received additional gross funding totaling $3.4 MM. Maxim Group LLC acted as the Placement Agent in connection with the offering.
"We have laid down a solid brand awareness foundation this summer and fall in the social media, action sports retail and consumer event spaces with the teen demographic to create awareness about our teen payment solutions," commented Jim Collas, President and CEO of Socialwise, Inc. "This round of funding is intended to allow us to fully engage our national marketing and customer acquisition programs for our premium products and to quickly gain momentum in the marketplace."
The Company is poised to announce a partnership with a significant online entertainment service company intended to appeal to teens' strong desire for spending independence and which supports the viability and rapid growth of the teen prepaid card category. More large-scale marketing initiatives via targeted advertising, pro athlete-endorsed projects, social media outlets, consumer events and sponsorships are underway and will continue to roll out through 2011.
Friday, June 18, 2010
BillMyParents(R) Inks Deals With Multiple Major Action Sports...
BillMyParents(R) Inks Deals With Multiple Major Action Sports...
BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTCBB: SCLW), announced that they are partnering with three major action sports retailers for their Supervised Shopping™ program. Targeting sites where teens browse and shop online, BillMyParents® has selected retail partners representing over $1B in annual sales from millions of consumers online and with over 900 stores nationwide. These retail partners plan to promote BillMyParents® to their existing consumer base, generating 20 million impressions of the BillMyParents® branded shopping button per month
BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTCBB: SCLW), announced that they are partnering with three major action sports retailers for their Supervised Shopping™ program. Targeting sites where teens browse and shop online, BillMyParents® has selected retail partners representing over $1B in annual sales from millions of consumers online and with over 900 stores nationwide. These retail partners plan to promote BillMyParents® to their existing consumer base, generating 20 million impressions of the BillMyParents® branded shopping button per month
Wednesday, May 19, 2010
BillMyParents(R) Announces Innovative Peace of Mind Control Panel(TM) for Parents
AN DIEGO, CA--(Marketwire - 05/19/10) - BillMyParents®, the online teen payment solutions company from Socialwise, Inc. (OTC.BB:SCLW - News), premiered today its Peace of Mind Control Panel™ feature that works in conjunction with its teen reloadable prepaid MasterCard®. The proprietary panel enables parents to easily monitor and manage their teens' BillMyParents® reloadable prepaid MasterCard® accounts, and is just one of the unique elements that make BillMyParents® a leader in teen payment solutions and user security for today's fast-paced environment.
"We developed the Peace of Mind Control Panel in order to specifically give parents an unparalleled level of monitoring and control services that are not typically associated with other standard debit card programs," says Jim Collas, President and CEO of BillMyParents®. "Carrying cash can be risky, and the safety and ease of our reloadable prepaid MasterCard® means parents and teens can have ongoing dialogue about financial responsibility while enabling teens a higher level of the independence they yearn for."
The BillMyParents® reloadable prepaid MasterCard® is the debit card parents don't need to worry about, and is accepted at over 25 million locations worldwide. Through the Peace of Mind Control Panel™, Transaction Alerts deliver parents a text or email every time a transaction is made, including the name and location of the vendor, the amount of sale, and the remaining balance. Lost Card Protection covers a lost or stolen card, with funds automatically transferred to the replacement card -- completely hassle-free. With Emergency Load, parents can instantly add funds to a card account whether it's for gas for a stranded teen or for last minute movie tickets or meals. Also, parents have the ability to instantly enable or disable cards using the Lock/Unlock Account feature.
"We developed the Peace of Mind Control Panel in order to specifically give parents an unparalleled level of monitoring and control services that are not typically associated with other standard debit card programs," says Jim Collas, President and CEO of BillMyParents®. "Carrying cash can be risky, and the safety and ease of our reloadable prepaid MasterCard® means parents and teens can have ongoing dialogue about financial responsibility while enabling teens a higher level of the independence they yearn for."
The BillMyParents® reloadable prepaid MasterCard® is the debit card parents don't need to worry about, and is accepted at over 25 million locations worldwide. Through the Peace of Mind Control Panel™, Transaction Alerts deliver parents a text or email every time a transaction is made, including the name and location of the vendor, the amount of sale, and the remaining balance. Lost Card Protection covers a lost or stolen card, with funds automatically transferred to the replacement card -- completely hassle-free. With Emergency Load, parents can instantly add funds to a card account whether it's for gas for a stranded teen or for last minute movie tickets or meals. Also, parents have the ability to instantly enable or disable cards using the Lock/Unlock Account feature.
Tuesday, April 13, 2010
Professional Motocross Racer and Rally America Champion Driver Travis Pastrana Signs on With BillMyParents
Professional Motocross Racer and Rally America Champion Driver Travis Pastrana Signs on With BillMyParents(R) Online Teen Payment Solutions
prnewswire
SAN DIEGO, April 12 /PRNewswire-FirstCall/ -- BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTC Bulletin Board:SCLW.ob - News), announced today that professional motocross racer and four-time Rally America champion has signed an endorsement deal with the Company's online BillMyParents® payment solution. Pastrana is the latest high profile addition to the Company's major marketing program launching late spring featuring numerous top action sports athletes and retail partners.
"The BillMyParents programs are ideal for teens in today's fast paced world," says Pastrana. "I hate waiting and go for what I want, and these solutions mean teens can have that too. They can let their parents know what they want with the click of a button, and parents get peace of mind. It couldn't be easier!"
Legendary Travis Pastrana was the World Freestyle Motocross champion at 14 and has 9 X Games gold medals under his belt. Born in Maryland in 1983, he was riding a Honda one-speed by the time he was 4, and the world gaped in amazement in 2006 when he became the first person to land a double-back flip on a motorcycle. Pastrana is also the reigning Rally America Series champion, a title he's won four years in a row. The popular MTV show "Nitro Circus" follows him and fellow daredevils around the world as they push the limits with dirt bikes, skydiving stunts, bobsleds, monster trucks and more. Travis is also a big supporter of Road 2 Recovery, a non-profit charity foundation that helps professional motocross/supercross racers who sustain career ending injures with financial support.
"We're very excited to have Travis on board with BillMyParents. He is truly an icon in the action sports and racing worlds, and has a tremendous number of devoted fans," comments Jim Collas, President and CEO of Socialwise, Inc. "We knew Travis would be a great endorser of our BillMyParents payment solutions because he really connects with people of all ages and backgrounds."
BillMyParents® provides innovative and simple payment solutions for teens and their parents. When using the Supervised Shopping™ program, teens safely shop online on partner retail sites and click on the BillMyParents® payment button that appears next to each product. Selections are sent right away by email or text to parents, who can easily manage and approve requests. The system ensures security of private financial data, and parents can also choose to deposit allowance-like spending amounts in advance for teens' use.
prnewswire
SAN DIEGO, April 12 /PRNewswire-FirstCall/ -- BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTC Bulletin Board:SCLW.ob - News), announced today that professional motocross racer and four-time Rally America champion has signed an endorsement deal with the Company's online BillMyParents® payment solution. Pastrana is the latest high profile addition to the Company's major marketing program launching late spring featuring numerous top action sports athletes and retail partners.
"The BillMyParents programs are ideal for teens in today's fast paced world," says Pastrana. "I hate waiting and go for what I want, and these solutions mean teens can have that too. They can let their parents know what they want with the click of a button, and parents get peace of mind. It couldn't be easier!"
Legendary Travis Pastrana was the World Freestyle Motocross champion at 14 and has 9 X Games gold medals under his belt. Born in Maryland in 1983, he was riding a Honda one-speed by the time he was 4, and the world gaped in amazement in 2006 when he became the first person to land a double-back flip on a motorcycle. Pastrana is also the reigning Rally America Series champion, a title he's won four years in a row. The popular MTV show "Nitro Circus" follows him and fellow daredevils around the world as they push the limits with dirt bikes, skydiving stunts, bobsleds, monster trucks and more. Travis is also a big supporter of Road 2 Recovery, a non-profit charity foundation that helps professional motocross/supercross racers who sustain career ending injures with financial support.
"We're very excited to have Travis on board with BillMyParents. He is truly an icon in the action sports and racing worlds, and has a tremendous number of devoted fans," comments Jim Collas, President and CEO of Socialwise, Inc. "We knew Travis would be a great endorser of our BillMyParents payment solutions because he really connects with people of all ages and backgrounds."
BillMyParents® provides innovative and simple payment solutions for teens and their parents. When using the Supervised Shopping™ program, teens safely shop online on partner retail sites and click on the BillMyParents® payment button that appears next to each product. Selections are sent right away by email or text to parents, who can easily manage and approve requests. The system ensures security of private financial data, and parents can also choose to deposit allowance-like spending amounts in advance for teens' use.
Sunday, April 11, 2010
Offerpal Media Rolls Out New Direct Payment Options Worldwide, Hires Industry Veteran Alex Brutin
T
FREMONT, Calif., April 8 /PRNewswire/ -- Offerpal Media (http://www.offerpalmedia.com), the leader in virtual currency payment alternatives, announced today that it recently integrated several new direct payment options into its platform in order to help social developers and online game publishers accept payments from users who do not have or are unwilling to use credit cards. The new payment options include pre-paid debit cards, phone cards, e-payment systems, parent-approved payments and more, from such partners as Zeus Research and STi Prepaid, paysafecard, MyCard, Rixty, BillMyParents, ClickandBuy and others—covering nearly 200 countries in all.
The company also announced it recently hired payment industry veteran Alex Brutin as its Vice President of Business Development. Mr. Brutin is responsible for forging new relationships with other direct payment providers and monetization partners as well as new strategic initiatives. Having previously worked as the Head of Channel Partnerships at Google Checkout and in Merchant Services Business Development at PayPal, Mr. Brutin most recently was the VP of Business Development at FreeCause, a free, fully-customizable toolbar that helps organizations reach and engage their supporters in fundamentally new ways. He has his MBA from the Walter A. Haas School of Business at UC Berkeley.
"Our vision is to help developers monetize larger portions of their user bases, whether through alternative payment options like offers, videos and surveys, or cash payment methods such as credit cards and all their substitutes," said George Garrick, Chairman and CEO of Offerpal Media. "There's a lot of innovation in the online payment space at the moment, with all sorts of new payment products that enable developers to monetize distinct sets of users based on geography, demographics and behavior types. We're proud to bring on board someone like Alex to help us identify the most appropriate partners to work with and build up profitable relationships."
The following direct payment options have been added to Offerpal's alternative payment platform in recent months:
* STi Prepaid phone cards: Using Zeus Research's patent-pending conversion system, gamers can purchase virtual currency by typing in pin numbers found on the back of pre-paid phone cards from STi Prepaid, a long-established name recognized throughout the U.S. STi sells in excess of 200 million cards each year through more than 225,000 national retail outlets.
* paysafecard: The leading online payment method in Europe, paysafecard allows users to purchase prepaid vouchers and authorize payments online by simply entering a 16-digit PIN code. Paysafecard is available at 280,000 outlets in more than 24 European countries.
* MyCard: MyCard offers several types of stored value cards such as scratch cards, thermosensitive paper and more, available in retail outlets, convenient stores and websites all throughout Asia. Furthermore, it also provides diverse micropayment methods for purchase online. MyCard was founded in 1983 and is based in Taiwan.
* Rixty: Rixty is an alternative payment platform that makes it easy for youth and adults without credit cards to convert their cash into online credits at more than 10,000 Coinstar kiosks and 10,000 convenience stores via the Rixty prepaid card. Rixty recently announced it had expanded its system to safely enable kids under the age of 13 to purchase online.
* BillMyParents: BillMyParents is a youth payment system that lets teens and tweens shop online without a credit card and gives parents the ability to easily track and control their teen's spending – while ensuring that credit card numbers and personal information are kept safe and secure. BillMyParents is a product of Socialwise, Inc. (OTCBB:SCLW.ob - News).
* ClickandBuy: ClickandBuy is a leading Internet payment service provider that enables users to conduct one-click transactions in 120 currencies throughout the world and offers 50 national and international modes of payment. Founded in 1999, ClickandBuy is a wholly-owned subsidiary of Deutsche Telekom AG.
Offerpal already works with many other direct payment providers, from PayPal and Visa/MasterCard to Zong, Boku, DaoPay, Amazon Payments, Paymo, Ultimate Game Card, PayByCash, Social Gold and more. The company recently passed its Payment Card Industry (PCI) compliance validation, meaning that it meets the fraud prevention and data security standards established by the PCI and can now process credit card transactions more efficiently. The company expects to roll out several more payment options in coming months.
FREMONT, Calif., April 8 /PRNewswire/ -- Offerpal Media (http://www.offerpalmedia.com), the leader in virtual currency payment alternatives, announced today that it recently integrated several new direct payment options into its platform in order to help social developers and online game publishers accept payments from users who do not have or are unwilling to use credit cards. The new payment options include pre-paid debit cards, phone cards, e-payment systems, parent-approved payments and more, from such partners as Zeus Research and STi Prepaid, paysafecard, MyCard, Rixty, BillMyParents, ClickandBuy and others—covering nearly 200 countries in all.
The company also announced it recently hired payment industry veteran Alex Brutin as its Vice President of Business Development. Mr. Brutin is responsible for forging new relationships with other direct payment providers and monetization partners as well as new strategic initiatives. Having previously worked as the Head of Channel Partnerships at Google Checkout and in Merchant Services Business Development at PayPal, Mr. Brutin most recently was the VP of Business Development at FreeCause, a free, fully-customizable toolbar that helps organizations reach and engage their supporters in fundamentally new ways. He has his MBA from the Walter A. Haas School of Business at UC Berkeley.
"Our vision is to help developers monetize larger portions of their user bases, whether through alternative payment options like offers, videos and surveys, or cash payment methods such as credit cards and all their substitutes," said George Garrick, Chairman and CEO of Offerpal Media. "There's a lot of innovation in the online payment space at the moment, with all sorts of new payment products that enable developers to monetize distinct sets of users based on geography, demographics and behavior types. We're proud to bring on board someone like Alex to help us identify the most appropriate partners to work with and build up profitable relationships."
The following direct payment options have been added to Offerpal's alternative payment platform in recent months:
* STi Prepaid phone cards: Using Zeus Research's patent-pending conversion system, gamers can purchase virtual currency by typing in pin numbers found on the back of pre-paid phone cards from STi Prepaid, a long-established name recognized throughout the U.S. STi sells in excess of 200 million cards each year through more than 225,000 national retail outlets.
* paysafecard: The leading online payment method in Europe, paysafecard allows users to purchase prepaid vouchers and authorize payments online by simply entering a 16-digit PIN code. Paysafecard is available at 280,000 outlets in more than 24 European countries.
* MyCard: MyCard offers several types of stored value cards such as scratch cards, thermosensitive paper and more, available in retail outlets, convenient stores and websites all throughout Asia. Furthermore, it also provides diverse micropayment methods for purchase online. MyCard was founded in 1983 and is based in Taiwan.
* Rixty: Rixty is an alternative payment platform that makes it easy for youth and adults without credit cards to convert their cash into online credits at more than 10,000 Coinstar kiosks and 10,000 convenience stores via the Rixty prepaid card. Rixty recently announced it had expanded its system to safely enable kids under the age of 13 to purchase online.
* BillMyParents: BillMyParents is a youth payment system that lets teens and tweens shop online without a credit card and gives parents the ability to easily track and control their teen's spending – while ensuring that credit card numbers and personal information are kept safe and secure. BillMyParents is a product of Socialwise, Inc. (OTCBB:SCLW.ob - News).
* ClickandBuy: ClickandBuy is a leading Internet payment service provider that enables users to conduct one-click transactions in 120 currencies throughout the world and offers 50 national and international modes of payment. Founded in 1999, ClickandBuy is a wholly-owned subsidiary of Deutsche Telekom AG.
Offerpal already works with many other direct payment providers, from PayPal and Visa/MasterCard to Zong, Boku, DaoPay, Amazon Payments, Paymo, Ultimate Game Card, PayByCash, Social Gold and more. The company recently passed its Payment Card Industry (PCI) compliance validation, meaning that it meets the fraud prevention and data security standards established by the PCI and can now process credit card transactions more efficiently. The company expects to roll out several more payment options in coming months.
Saturday, April 10, 2010
Professional Skateboarder Ryan Sheckler Teams Up With BillMyParents(R) Online Teen Payment Solutions
SAN DIEGO, April 8 /PRNewswire-FirstCall/ -- BillMyParents®, the online teen payment system of Socialwise, Inc. (OTC Bulletin Board:SCLW.ob - News), is proud to announce that professional skateboarder and 2010 Nickelodeon Kids' Choice Awards Favorite Male Athlete Ryan Sheckler has signed a deal with the Company to promote its online BillMyParents® payment solution. Sheckler will be part of a major marketing initiative the Company plans to launch in late spring which will include a multitude of top action sports athletes and retailers.
The star of MTV's hit reality show "Life of Ryan," Ryan Sheckler is the skateboarding child prodigy who exploded onto the professional scene in 2003, turning pro at the tender age of 13. That year alone saw him astound the world with gold medals in street at the X Games and the Gravity Games. He also took first place overall in the Vans Triple Crown street competition. A native of San Clemente, CA, Ryan has also created The Sheckler Foundation to make a difference in the lives of children, families and communities in need, as well as injured action sports athletes. The first athlete to ever win the Dew Action Sports Tour championship 3 years in a row, Ryan continues to be an innovative and powerhouse skateboarder and international celebrity, with 1.5 million followers on Twitter alone.
"I love what BillMyParents is doing for teens and tweens," says Sheckler. "Teens need their independence, and using the BillMyParents payment systems means they can pick exactly what they want - it's very easy, and is also secure for parents. I have a close relationship with my mom, and I believe it's important for kids and their parents to talk about building good habits."
"I am excited to have Ryan endorsing and promoting the BillMyParents brand as he is a truly talented rising star," commented Jim Collas, President and CEO of BillMyParents®. "Just last week, Ryan won the Nickelodeon Kids' Choice Awards for Best Male Athlete, beating out LeBron James, Kobe Bryant, and Shawn White."
The star of MTV's hit reality show "Life of Ryan," Ryan Sheckler is the skateboarding child prodigy who exploded onto the professional scene in 2003, turning pro at the tender age of 13. That year alone saw him astound the world with gold medals in street at the X Games and the Gravity Games. He also took first place overall in the Vans Triple Crown street competition. A native of San Clemente, CA, Ryan has also created The Sheckler Foundation to make a difference in the lives of children, families and communities in need, as well as injured action sports athletes. The first athlete to ever win the Dew Action Sports Tour championship 3 years in a row, Ryan continues to be an innovative and powerhouse skateboarder and international celebrity, with 1.5 million followers on Twitter alone.
"I love what BillMyParents is doing for teens and tweens," says Sheckler. "Teens need their independence, and using the BillMyParents payment systems means they can pick exactly what they want - it's very easy, and is also secure for parents. I have a close relationship with my mom, and I believe it's important for kids and their parents to talk about building good habits."
"I am excited to have Ryan endorsing and promoting the BillMyParents brand as he is a truly talented rising star," commented Jim Collas, President and CEO of BillMyParents®. "Just last week, Ryan won the Nickelodeon Kids' Choice Awards for Best Male Athlete, beating out LeBron James, Kobe Bryant, and Shawn White."
Friday, April 9, 2010
Motocross Champ Travis Pastrana on Board with Socialwise!
BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTCBB: SCLW), announced today that professional motocross racer and four-time Rally America champion has signed an endorsement deal with the Company's online BillMyParents® payment solution. Pastrana is the latest high profile addition to the Company's major marketing program launching late spring featuring numerous top action sports athletes and retail partners.
"The BillMyParents programs are ideal for teens in today's fast paced world," says Pastrana. "I hate waiting and go for what I want, and these solutions mean teens can have that too. They can let their parents know what they want with the click of a button, and parents get peace of mind. It couldn't be easier!"
Legendary Travis Pastrana was the World Freestyle Motocross champion at 14 and has 9 X Games gold medals under his belt. Born in Maryland in 1983, he was riding a Honda one-speed by the time he was 4, and the world gaped in amazement in 2006 when he became the first person to land a double-back flip on a motorcycle. Pastrana is also the reigning Rally America Series champion, a title he's won four years in a row. The popular MTV show "Nitro Circus" follows him and fellow daredevils around the world as they push the limits with dirt bikes, skydiving stunts, bobsleds, monster trucks and more. Travis is also a big supporter of Road 2 Recovery, a non-profit charity foundation that helps professional motocross/supercross racers who sustain career-ending injures with financial support.
"We're very excited to have Travis on board with BillMyParents. He is truly an icon in the action sports and racing worlds, and has a tremendous number of devoted fans," comments Jim Collas, President and CEO of Socialwise, Inc. "We knew Travis would be a great endorser of our BillMyParents payment solutions because he really connects with people of all ages and backgrounds."
BillMyParents® provides innovative and simple payment solutions for teens and their parents. When using the Supervised Shopping™ program, teens safely shop online on partner retail sites and click on the BillMyParents® payment button that appears next to each product. Selections are sent right away by email or text to parents, who can easily manage and approve requests. The system ensures security of private financial data, and parents can also choose to deposit allowance-like spending amounts in advance for teens' use.
"The BillMyParents programs are ideal for teens in today's fast paced world," says Pastrana. "I hate waiting and go for what I want, and these solutions mean teens can have that too. They can let their parents know what they want with the click of a button, and parents get peace of mind. It couldn't be easier!"
Legendary Travis Pastrana was the World Freestyle Motocross champion at 14 and has 9 X Games gold medals under his belt. Born in Maryland in 1983, he was riding a Honda one-speed by the time he was 4, and the world gaped in amazement in 2006 when he became the first person to land a double-back flip on a motorcycle. Pastrana is also the reigning Rally America Series champion, a title he's won four years in a row. The popular MTV show "Nitro Circus" follows him and fellow daredevils around the world as they push the limits with dirt bikes, skydiving stunts, bobsleds, monster trucks and more. Travis is also a big supporter of Road 2 Recovery, a non-profit charity foundation that helps professional motocross/supercross racers who sustain career-ending injures with financial support.
"We're very excited to have Travis on board with BillMyParents. He is truly an icon in the action sports and racing worlds, and has a tremendous number of devoted fans," comments Jim Collas, President and CEO of Socialwise, Inc. "We knew Travis would be a great endorser of our BillMyParents payment solutions because he really connects with people of all ages and backgrounds."
BillMyParents® provides innovative and simple payment solutions for teens and their parents. When using the Supervised Shopping™ program, teens safely shop online on partner retail sites and click on the BillMyParents® payment button that appears next to each product. Selections are sent right away by email or text to parents, who can easily manage and approve requests. The system ensures security of private financial data, and parents can also choose to deposit allowance-like spending amounts in advance for teens' use.
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.”Wednesday, August 19, 2009
SCLW-NEWS-Buzz was right!
August 20, 2009 2:50 AM ET
Socialwise, Inc. Adds Action Sports Industry Veteran to Drive BillMyParents into the Multi-Billion Dollar Teen Action Sports Market
Aug 19, 2009 10:50:06 (ET)
SAN DIEGO, Aug 19, 2009 (BUSINESS WIRE) -- Socialwise, Inc. (SCLW, Trade ) today announced the appointment of Mark Miller, former Senior Vice President of DC Shoes and action sports industry veteran to the company's Board of Advisors. In this role, he will use his extensive network of online merchants, Actions Sports athletes, and industry connections to position BillMyParents as a leading youth payment system. He will be in charge of securing partnerships with leading online action sports brands and retailers as well as building our user base of young consumers and their parents.
"We are excited about being able to leverage Mark's extensive experience and connections in the action sports world," noted Jim Collas, CEO of Socialwise. "His ties to top merchants and athletes will be invaluable to our effort to fuel our momentum in this area."
"During my years selling youth oriented products online, a persistent impediment to faster growth was young people's lack of a viable payment method for purchases," commented Mark Miller. "I was instantly impressed by the potential of BillMyParents to overcome this constraint and actually increase parents' ability to monitor and control young people's purchases online."
Mark Miller has over twenty-five years experience working in Action Sports and youth culture businesses. As a senior executive, Mark focused on developing and executing go-to-market strategies for consumer goods companies. Most recently, he served as the Senior Vice President and General Manager of DC Shoes, a subsidiary of Quiksilver Inc., where he managed the Americas' division including strategic partnerships with both retail and online distribution channels. Prior to that, Miller founded and operated a consulting firm under his own name that managed global marketing campaigns and strategic partnerships for a portfolio of clients focused in the youth market and the Action Sports industry. Mark has also held executive roles with K2 Inc., and Yoshida Recreation Products LLC.
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.
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