OTC Bulletin Board

S & P Company Insight for BETAWAVE CORPORATION
 
 Profile

 
Business Summary: Betawave Corporation operates as an attention-based digital media company in the United States. The company delivers advertising and content to various audiences of highly-engaged users through innovative ad formats.
 
Address
  706 Mission Street
  10th Floor
  San Francisco , CA 94103
  Phone: 415-738-8706
  Website: http://www.betawave.com
Auditor
  Rowbotahm & Company
  San Francisco
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  55
ShareHolders:  90
Founded:  2005
Domicile:  Nevada
 
  
 
 Background

 
Betawave Corporation operates as an attention-based digital media company in the United States. The company delivers advertising and content to various audiences of highly-engaged users through innovative ad formats. It offers marketers a scalable video advertising and distribution solution related to animation, youth-oriented news, action sports, movie and video game information, special events, celebrity interviews, fashion, and health and beauty segments. The publishers in the company's network span various online experiences enjoyed by Internet users, including entertainment focused and educational virtual worlds, casual and massively multi-player games, avatar-based social networks, educational, informational, and photo sharing sites. Betawave Corporation serves brand advertisers in consumer packaged goods, entertainment, consumer electronics and software, and retail markets. The company was formerly known as GoFish Corporation and changed its name to Betawave Corporation in January 2009. Betawave Corporation was founded in 2003 and is headquartered in San Francisco, California.
History:  INCORPORATED in Nevada Feb. 2, 2005, as Unibio Inc.; name changed to GoFish Corporation Sept. 14, 2006; and to Betawave Corp. Feb. 27, 2009. On Oct. 27, 2006, the company acquired GoFish Technologies, Inc. for 3,632,555 Common shares and Internet Television Distribution Inc. for 3,500,000 Common shares. In each case, the acquisition was effected through the merger of a subsidiary of the company into the acquired concern. GoFish Technologies, Inc. was incorporated in California May 13, 2003.
 
Subsidiaries:
GoFish Technologies, Inc.
Internet Television Distribution Inc.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Jim  MoloshokChairman
 Matt  FreemanVice Chairman
 Tabreez  VerjeePresident & Chief Executive Officer
 Lennox L. VernonChief Operating Officer, Chief Accounting Officer & Chief Financial Officer
 David  LorieSecretary, General Counsel & Investor Relations Contact

Directors
 John  Durham
 Matt  Freeman
 Michael  Jung
 Richard G. Ling
 Mark S. Menell
 Jim  Moloshok
 Riaz  Valani
 Tabreez  Verjee
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
REVENUES
Revenues7,701,5992,081,182
EXPENSES
Cost of Revenues(6,551,870)(2,437,047)
Sales and Marketing(6,480,550)(6,174,158)
General and Administrative(6,024,801)(5,186,981)
Product Development(713,964)(2,261,481)
Interest Expense(2,465,545)(1,276,568)
Interest Income23,238147,007
Loss on Debt Extinguishment(2,736,832)-
Miscellaneous Income/expense278,740536
Acquisition Costs-(1,270,348)
Earnings before Taxes(16,969,984)(16,377,858)
TAXES AND OTHER EXPENSES
Net Income (Loss)(16,969,984)(16,377,858)
SUPPLEMENTARY INFO
Operating Income (Loss)(14,806,418.00)(15,248,833.00)
Basic Eps-continuing Operations(0.66)(0.68)
Diluted Eps-continuing Operations(0.66)(0.68)
 
Balance Sheet
  20082007
CURRENT ASSETS
Cash and Cash Equivalents11,863,1211,108,834
Accounts Receivables3,108,1361,604,209
Prepaid Expenses961,829503,792
Total Current Assets15,933,0863,216,835
NON CURRENT ASSETS
Property and Equipment, net236,448457,317
Convertible Note Fees, Net-1,189,486
Deposits113,029117,979
Total Assets16,282,5634,981,617
CURRENT LIABILITIES
Accounts Payable4,085,8861,398,262
Accrued Liabilities1,601,840714,693
Deferred Revenue109,243-
Total Current Liabilities5,796,9692,112,955
NON CURRENT LIABILITIES
Convertible Notes, Net -6,260,282
Preferred Stock Convertible7,065-
SHAREHOLDERS' EQUITY
Common Stock-par Value29,23025,171
Additional Paid in Capital51,563,48420,727,408
Accumulated Deficit(41,095,272)(24,125,288)
Notes Receivables from Stockholders(18,910)(18,910)
Total Shareholders Equity10,485,594(3,391,620)
Total Liabilities & Shareholders Equity16,282,5634,981,617
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   11,390,000
  2008   1660,000
  2008   21,280,000
  2008   32,790,000
  2008   42,980,000
  2008   Full Year 7,700,000
  2007   120,000
  2007   230,000
  2007   3490,000
  2007   41,540,000
  2007   Full Year 2,080,000
  2006   210,000
  2006   310,000
  2006   410,000
  2006   Full Year Nil
  2005   310,000
  2005   420,000
  2005   Full Year 30,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2009   1(4,410,000)
  2008   4(5,980,000)
  2008   Full Year (16,970,000)
  2007   2(5,880,000)
  2007   3(3,780,000)
  2007   Full Year (16,380,000)
  2006   Full Year (5,310,000)
  2005   Full Year (2,000,000)
  2004   Full Year (410,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2009   1(.15)
  2008   1(.16)
  2008   2(.14)
  2008   3(.13)
  2008   4(.23)
  2008   Full Year (.66)
  2007   1(.15)
  2007   2(.24)
  2007   3(.16)
  2007   4(.13)
  2007   Full Year (.74)
  2006   1(.07)
  2006   2(.26)
  2006   3(.14)
  2006   4(.13)
  2006   Full Year (.51)
  2005   4(.07)
  2005   Full Year (.21)
  2004   Full Year (.05)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2009:
 
 Authorized SharesOutstanding Shares
Preferred $0.001 par10,000,0007,065,293so1
Common $0.001 par400,000,00029,229,284
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  12/31/2008, 90.
Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): BWAV
 
ExchangeYearHighLow
OTC Bulletin Board20090.00000.0000
OTC Bulletin Board20080.59000.0800
OTC Bulletin Board20076.10000.1600
OTC Bulletin Board20064.70002.5000
 
DIVIDENDS: Common $0.001 par: No cash. Common split 8.333334-for-1, Oct. 10, 2006.
 
 
  so1Closely held. Consists of Ser. A Convertible shares. Each share is convertible into 20 Common shares.