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| | Business Summary: CrowdGather, Inc. specializes in monetizing a network of online forums and message boards designed to engage, provide information to and build community around users. It is in the process of building a social, advertising, and user generated content network. | | | Address
20300 Ventura Blvd., Suite 330
Woodland Hills
, CA 91364
Phone: 818-435-2472
Fax: 818-435-2473
Website: http://www.crowdgather.com
| | Auditor |
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Q Accountancy Corporation
| | Transfer Agent |
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Holladay Stock Transfer, Inc.
| Employees: 8
ShareHolders: 41 | Founded: 2005
Domicile: Nevada | | | |
| | CrowdGather, Inc. is an Internet company that specializes in developing and hosting forum based websites. The company is headquartered in Woodland Hills, California.
CrowdGather specializes in monetizing a network of online forums and message boards designed to engage, provide information to and build community around users. The company is in the process of building a social, advertising, and user generated content network by consolidating existing groups of online users that post on message boards and forums.
Part of the company's growth strategy includes identifying and acquiring web properties. The company has been researching potential opportunities to acquire online forums within targeted content and advertising verticals in its industry in order to expand its operations. In addition to the over 70 properties and 300 domain names acquired through mid-September 2009, CrowdGather also maintains ongoing discussions with representatives of certain web properties and other companies that may be interested in being acquired by the company or entering into a joint venture agreement with it.
The network that CrowdGather creates will rely initially upon the company's own properties, but it is CrowdGather's goal to build a network that is open to third-party owned forums as well. Ultimately, the integration of these message board communities on the company's central CrowdGather platform will allow for the creation of three things: a user generated content network driven by a proprietary search interface; a social network powered by central ID and log-on management through the company's proprietary user profile; and an advertising network that allows CrowdGather to leverage the targeted demographics of the combined network in order to generate the highest advertising rates for all of its member sites.
The CrowdGather Network represents (as of September 2009) an aggregate of approximately 16 to 20 million monthly page views, 1.3 to 1.7 million monthly unique visitors, and 1.7 million discussions comprising over 40.5 million individual replies. Additionally, approximately 2.9 million users have registered on CrowdGather Network sites through mid-September 2009.
CrowdGather also intends to develop, market and sell products that are focused on expanding its visibility among owners of forums. The first such product will be the company's proprietary forum Content Management System (CMS), CrowdReport. The company anticipates that the initial free version of its CrowdReport CMS will be available for distribution beginning in October 2009. | | History: INCORPORATED in Nevada Apr. 20, 2005, as WestCoast Golf Experiences, Inc.; name changed to CrowdGather, Inc. Apr. 8, 2008. On Apr. 8, 2008, General Mayhem LLC merged into a wholly owned subsidiary of the company, and the company's subsidiary, in turn, merged into the company. The company issued an aggregate of 26,000,000 Common shares to former members of General Mayhem LLC.
General Mayhem LLC was organized in California on May 6, 2004. | | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2010 | 33 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2008 | 0 |
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Management
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| Officers | Position |
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| Sanjay Sabnani | Chairman & Chief Executive Officer | | Gaurav Inder Singh | Treasurer, Chief Financial Officer & Chief Accounting Officer | | Fernando Munoz | Chief Technology Officer | | Gaurav I. Singh | Investor Relations Contact |
| | Directors |
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| Jonathan Dariyanani | | Jonathan Daryianani | | Sanjay Sabnani | | James A. Sacks | | Chuck Timpe | | | |
| | | | Capitalization as of 04/30/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 975,000,000 | 39,823,462 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
04/30/2010,
41.
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Transfer Agent: Holladay Stock Transfer, Inc.
Scottsdale
, AZ | | | | OTC Bulletin Board( Primary): CRWG | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 1.6500 | 0.1500 | | OTC Bulletin Board | 2008 | 2.3000 | 1.0000 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common split 13-for-1, ex-Mar. 27, 2008. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2010 | 2009 |
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| REVENUES |
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| | Revenues | 309,781 | 112,546 | | EXPENSES |
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| | Payroll & Related Expenses | (783,636) | (940,352) | | General and Administrative | (1,519,865) | (1,549,348) | | Interest Expense | (146,230) | (62,283) | | Interest Expense - Debt Discount Amortization | (727,357) | - | | Interest Income | 1,984 | 1,230 | | Loss on Extinguishments of Debt | (563,571) | - | | Earnings before Taxes | (3,428,894) | (2,438,207) | | TAXES AND OTHER EXPENSES |
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| | Provision for Income Tax | (800) | (800) | | Net Income (Loss) | (3,429,694) | (2,439,007) | | SUPPLEMENTARY INFO |
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| | Operating Income (Loss) | (1,993,720) | (2,377,154) | | Net loss per share basic and diluted | (0.08) | (0.06) |
| | | | Balance Sheet | |
| 2010 | 2009 |
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| ASSETS: |
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| | CURRENT ASSETS |
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| | Cash | 589,408 | 2,601 | | Prepaid Expenses and Deposit | 17,224 | 8,472 | | Advance to Employees | 25,615 | - | | Total Current Assets | 632,247 | 11,073 | | NON CURRENT ASSETS |
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| | Property and Equipment | 82,721 | 83,951 | | Intangible Assets | 1,980,663 | 606,610 | | Total Assets | 2,695,631 | 701,634 | | LIABILITIES: |
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| | CURRENT LIABILITIES |
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| | Accounts Payable | 103,193 | 24,629 | | Other Accrued Liabilities | 63,871 | 9,040 | | Accrued Interest | - | 62,283 | | Accrued Vacations | 40,633 | 21,238 | | Notes Payable | - | 50,000 | | Convertible Notes Payable | - | 1,162,000 | | Unearned Revenue | - | 12,500 | | Total Current Liabilities | 207,697 | 1,341,690 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 39,823 | 40,685 | | Additional Paid in Capital | 8,763,661 | 2,205,115 | | Accumulated Deficit | (6,315,550) | (2,885,856) | | Total Shareholders Equity | 2,487,934 | (640,056) | | Total Liabilities & Shareholders Equity | 2,695,631 | 701,634 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 50,000 | | 2010 |
2 | 60,000 | | 2010 |
3 | 80,000 | | 2010 |
4 | 120,000 | | 2010 |
Full Year
| 310,000 | | 2009 |
1 | 10,000 | | 2009 |
2 | 20,000 | | 2009 |
3 | 40,000 | | 2009 |
4 | 50,000 | | 2009 |
Full Year
| 110,000 | | 2008 |
1 | 10,000 | | 2008 |
Full Year
| 20,000 | | 2007 |
Full Year
| 20,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | Nil | | 2010 |
2 | Nil | | 2010 |
3 | Nil | | 2010 |
4 | Nil | | 2010 |
Full Year
| (3,430,000) | | 2009 |
Full Year
| (2,440,000) | | 2008 |
Full Year
| (410,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (.03) | | 2010 |
2 | (.01) | | 2010 |
3 | (.01) | | 2010 |
4 | (.02) | | 2010 |
Full Year
| (.08) | | 2009 |
1 | (.01) | | 2009 |
2 | (.02) | | 2009 |
3 | (.02) | | 2009 |
4 | (.01) | | 2009 |
Full Year
| (.06) | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
4 | (.01) | | 2008 |
Full Year
| (.01) | | 2007 |
Full Year
| Nil |
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