OTC Bulletin Board S & P Company Insight for ASKMENOW, INC.
Profile
	Business Summary: AskMeNow, Inc., a communications technology company, provides users of mobile devices with access to information and enables users to ask questions and receive answers on such devices regardless of location or time.   Address   26 Executive Park., Suite 250   Irvine , CA 92614-2701   Phone: 949-861-2590   Fax: 949-861-2591   Website: http://www.askmenow.com Auditor   WEBB & COMPANY, P.A. Transfer Agent   Registrar & Transfer Co. Employees:  30 ShareHolders:  1018 Founded:  2000 Domicile:  Delaware
Background
	AskMeNow, Inc., a communications technology company, provides users of mobile devices with access to information and enables users to ask questions and receive answers on such devices regardless of location or time. The company's primary offering is the AskMeNow service, a mobile information content service that provides answers to questions a user may ask from virtually anywhere at virtually any time. AskMeNow enables users of any mobile device with text messaging/short message service (SMS) or email capability to text message or email questions, or to download an application and submit questions using the application. The answer can be text messaged, e-mailed, or delivered through the application back to the consumer's mobile device, usually within a matter of minutes. Management believes the AskMeNow service provides users a nearly effortless means of obtaining a concise answer to a wide variety of questions. The company is working to develop delivery of answers through a process known as SMS to WAP. Founded in 2004, the company is based in Irvine, California. History:  INCORPORATED in Delaware Aug. 15, 2000. In March 2002, the company acquired all of the outstanding Preferred and Common shares of Ocean West Enterprises, Inc. in an exchange of shares. Name changed from Ocean West Holding Corp. to AskMeNow, Inc. Dec. 18, 2006. Ocean West Enterprises, Inc. was incorporated in California in November 1988. June 6, 2005, acquired InfoByPhone, Inc. in a reverse merger, issuing 6,000,000 Common shares in exchange for all of the InfoByPhone Common shares outstanding which, together with 500,000 shares issued to Vertical Capital Partners as a finders fee, constituted approximately 56% of the capital stock of the company. InfoByPhone, Inc. was originally organized as an Ohio limited liability company on Jan. 7, 2004, and on June 10, 2004, merged into a Delaware corporation. December 30, 2005, sold the issued and outstanding shares of its wholly owned Ocean West Enterprises (OWE) mortgage brokerage subsidiary for $1.00. OWE had previously assumed the liabilities and obligations of the company under an agreement dated May 23, 2005.   Subsidiaries: AskMeNow, Inc. (Philippines) InfoByPhone, Inc. InfoByPhone, LLC   Backlog Year Currency Amount 2007 US Dollars 0(thousand) 2006 US Dollars 0(thousand)   Capital Expenditures, thousand. US Dollars   Year   Amount   2007   29   2006   20   2005   242   Research and Development Expenditures, thousand. US Dollars   Year   Amount   2007   73   2006   222   2005   339
Management
	Management Officers Position  Darryl  Cohen Chairman & Chief Executive Officer  Andrea  Vaccaro Investor Relations Contact Directors  Darryl  Cohen  Alan  Smith  Sandro  Sordi
Annual Report
	Annual Report   Income Statement   2007 2006 REVENUE Revenue from mobile services $54,536 $27,846 * 54,536 27,846 COSTS AND OPERATING EXPENSES Cost of revenue 1,154,945 1,679,307 Research and development 72,693 222,005 General and administrative 2,193,107 2,906,843 Professional fees 1,467,418 2,622,590 Salaries and compensation 4,595,005 3,947,217 Total Operating Expenses 9,483,168 11,377,962 Net Loss from Operations (9,428,632) (11,350,116) OTHER INCOME (EXPENSE) Financing costs (5,017,598) - Derivative expense - (1,004,571) Interest expense (5,989,434) (206,483) Total other expense (11,007,032) (1,211,054) Net loss before income taxes (20,435,664) (12,561,170) Income taxes - (12,832) Net loss (20,435,664) (12,574,002) Preferred stock dividends (525,895) (322,314) Net loss applicable to common shareholders (20,961,559) (12,896,316) Basis and diluted net loss per common share $(0.58) $(0.47) Basic and diluted weighted average number of common shares outstanding 36,180,380 27,228,935 The accompanying notes are an integral part of these consolidated financial statements. Operating Income As Calculated Depr. and Amort. Fixed Charges Coverage: Available for Fixed Charges Gross Fixed Charges Fixed Charges Times Earnings Fixed Charges Coverages and Preferred Dividends Times Earnings Capital Expenditures Research & Development Expenditures   Balance Sheet   2007 2006 ASSETS CURRENT ASSETS Cash $- $61,279 Accounts receivable, net 16,314 13,860 Prepaid expenses and other current assets 448,484 79,151 Total Currents Assets 464,798 154,290 Property and Equipment, net 129,994 188,974 OTHER ASSETS License, net of $150,000 provision at December 31, 2007 - 150,000 Other assets 50,318 47,496 TOTAL ASSETS $645,110 $540,760 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Bank overdraft $1,873 $- Accounts payable 1,340,074 1,099,937 Accrued expenses 933,247 326,797 Deferred revenue 20,000 - Notes payable 3,130,000 - Notes payable - related party 100,000 102,624 Deferred Tax Liability 14,673 16,786 Total Current Liabilities 5,539,867 1,546,144 STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock, $0.01 par value, 10,000,000 shares authorized at December 31, 2007 and December 31, 2006 Series A Preferred Stock, $0.01 par value, 1,500,000 shares authorized, $10 face value, 22,458 and 362,500 shares issued and outstanding 200,000 3,625,000 at December 31, 2007 and 2006, respectively Series B Preferred Stock, $0.01 par value, 1,600,000 shares authorized, $10 face value, 295,933 and 235,500 shares issued and outstanding 2,289,261 2,355,000 at December 31, 2007 and 2006, respectively Series C Preferred Stock, $0.01 par value, 400,000 shares authorized, zero and 400,000 shares issued and outstanding - 4,000 at December 31, 2007 and 2006, respectively Common stock, $0.01 par value, 300,000,000 shares authorized, 42,134,887 and 28,994,887 shares issued and outstanding at December 31, 2007 and 2006, respectively 421,350 289,950 Additional paid-in-capital 34,808,728 14,907,308 Foreign currency translation 10,135 1,925 Accumulated deficit (42,624,231) (22,188,567) Total Stockholders' Equity (Deficit) (4,894,757) (1,005,384) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $645,110 $540,760 The accompanying notes are an integral part of these consolidated financial statements. Net Working Capital Equity per Share Depr. and Amort. Reserve Preferred Shares Issued Common Shares Issued Treasury Shares - Preferred Treasury Shares - Common
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2008   1 20,000   2007   1 10,000   2007   2 Nil   2007   3 Nil   2007   4 40,000   2007   Full Year 50,000   2006   1 Nil   2006   2 Nil   2006   3 Nil   2006   Full Year 30,000   2005   1 1,490,000   2005   2 190,000   2005   3 Nil   2005   Full Year 10,000   2004   1 3,120,000   2004   2 1,630,000   2004   3 1,460,000   2004   Full Year 7,190,000   2003   1 3,290,000   2003   2 3,060,000   2003   3 3,340,000   2003   4 3,470,000   2003   Full Year 13,160,000     Quarterly Net Income, US$ Year Quarter Revenue   2008   1 (10,880,000)   2007   1 (2,610,000)   2007   2 (7,830,000)   2007   3 (2,920,000)   2007   4 (7,070,000)   2006   1 (2,100,000)   2006   2 (3,700,000)   2006   3 (7,720,000)   2006   Full Year (12,574,000)   2005   1 110,000   2005   2 (1,620,000)   2005   3 (1,420,000)   2005   Full Year (4,775,500)   2004   1 (530,000)   2004   2 (360,000)   2004   3 (520,000)   2004   Full Year (2,545,000)   2003   1 340,000   2003   2 20,000   2003   3 240,000   2003   4 (280,000)   2003   Full Year 321,900     Quarterly EPS, US$ Year Quarter Revenue   2008   1 (.24)   2007   1 (.09)   2007   2 (.24)   2007   3 (.08)   2007   4 (.15)   2007   Full Year (.58)   2006   1 (.08)   2006   2 (.14)   2006   3 (.28)   2006   Full Year (.47)   2005   1 .01   2005   2 (.19)   2005   3 (.06)   2005   Full Year (.22)   2004   1 (.10)   2004   2 (.07)   2004   3 (.10)   2004   Full Year (.48)   2003   1 .05   2003   2 Nil   2003   3 .03   2003   4 (.06)   2003   Full Year .02
Stock Data
	Capitalization as of 03/31/2008:     Authorized Shares Outstanding Shares Common $0.01 par 300,000,000 59,004,597 Preferred $0.01 par 10,000,000 777,077so2   LONG TERM DEBT: None.   Common $0.01 par   COMMON SOLD PRIVATELY: In July 2005, the company completed a private placement of 10,666,669 Common shares, for gross proceeds of $3.2 million ($2.78 million net).   Stockholders:  04/07/2008, 1018. PRINCIPAL STOCKHOLDERS: April 7, 2008, Enable Group Partners, LP owned or controlled 25.3% of the Common, Dolphin Offshore Partners, LP 14.5%, Baruch Halpern Revocable Trust 13.3%, Darryl Cohen 12.1%, ClearView Investment Fund 10.7%, McMahan Securities Corp. 7.1% and Blue Sky Consultants, Ltd. 6.2%.   Transfer Agent:  Registrar & Transfer Co.   Cranford , NJ   OTC Bulletin Board( Primary): AKMN   Exchange Year High Low OTC Bulletin Board 2007 0.9500 0.1000 OTC Bulletin Board 2006 2.3900 0.2300 OTC Bulletin Board 2005 5.6500 0.0700 OTC Bulletin Board 2004 0.4500 0.0700 OTC Bulletin Board 2003 0.7500 0.0800 OTC Bulletin Board 2002 0.7500 0.1500   DIVIDENDS: Common $0.01 par: None.       so2Closely held. Consists of 16,836 shares of Series A preferred stock; 275,241 shares of Series B preferred stock; and 485,000 shares of Series D preferred stock. Series A, B and D stock rank senior to the Common. Each share of Series A and B has a $10 per share liquidation preference; each share of Series D has a $1.00 per share liquidation preference.