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Shotech America Business Plan

Shotech America, the future leader of the North American e-marketing and e-communication industry

Last updated: July, 2006

Shotech America.

Confidential and Proprietary to Shotech America, 2000. Do Not Distribute.

DISCLAIMER

This BUSINESS PLAN has been prepared by Shotech America (hereafter referred to as “the Company”), and contains confidential information. It is being delivered to select parties who have expressed interest in providing financing to the Company. The sole purpose of this memorandum is to help recipients decide whether to investigate this opportunity in depth, with a view to submitting a proposal to finance. While the information herein has been developed by the Company and is believed to be accurate, the Company expressly disclaims any and all liability for the representations or warranties, expressed or implied, contained in this business plan or for any omission of information. In addition, the Company is not responsible for any other written or oral communication transmitted or made available to a prospective financier excepting only those particular representations and warranties which may form a part of a written agreement to finance, if, as, and when, an agreement is executed, and subject to the limitations and restrictions as may be specified in such an agreement.

NOTICE

This business plan shall not be copied, reproduced or distributed to others at any time for any reason whatsoever without the prior written consent of the Company. It has been delivered to prospective financiers for informational purposes only and upon the express understanding that they will use it only for the purpose set forth herein.

Upon request, the recipient will promptly return or destroy all material received from the Company (including this information package and related analysis), without retaining any copies thereof. In furnishing this information package, the Company undertakes no obligation to provide the recipient with access to additional information.

FINANCIAL NOTE

The projected financial information presented herein is unaudited and has been based on assumptions regarding future events. It is expected that as the Company refines its operating policies and strategic relationships operating cost structure and growth rate will be greatly affected. The projection is a work in progress and potential investors and partners will receive updated versions of the projection as it progresses at the discretion of the Company.

Actual events will likely differ from the assumptions that have been used, and the projected financial information will change. Based on the revenue model incorporated in this projection, Management is confident that the provision of data protection services is a sustainable business model with positive benefits to the Company, Management, employees, and partners. The Company reserves the right to request the return of the Business Plan at any time.


CONTACT:SHOTECH AMERICA, INC.

515 CONSUMERS ROAD, SUITE 405TORONTO, ONTARIO M2J 4Z2 CANADATEL 416 750 4002, FAX 416 750 8802

WWW.SHOTECH.COM

Shotech America Online Marketing

CONTENTS

EXECUTIVE SUMMARY......................................................................................................................................... 3

BUSINESS HISTORY............................................................................................................................................. 5ABOUT SHOTECH KOREA..................................................................................................................................... 5THE EXECUTIVE TEAM......................................................................................................................................... 5ACHIEVEMENTS................................................................................................................................................... 6CUSTOMERS....................................................................................................................................................... 6SHOTECH’S FUTURE............................................................................................................................................ 6

MYLINKER AND PRODUCT STRATEGY................................................................................................................... 7HOW THE SHOTECH ENGINE WORKS.................................................................................................................... 7COMPETITIVE ADVANTAGES................................................................................................................................. 8PRODUCT DEVELOPMENT SCHEDULE................................................................................................................... 9CORPORATE APPLICATIONS................................................................................................................................. 9

MARKET OPPORTUNITIES.................................................................................................................................. 11MARKET VALIDATION.......................................................................................................................................... 11

ADVERTISING................................................................................................................................................. 11E-COMMERCE................................................................................................................................................ 11INTERNAL COMMUNICATIONS SPENDING.......................................................................................................... 12

COMPETITION.................................................................................................................................................... 13UNMATCHABLE BUSINESS CASE OF MYLINKER: CHOSUN.COM..........................................................................13

BUSINESS MODEL AND DEVELOPMENT PLAN...................................................................................................... 14SALES STRATEGY.............................................................................................................................................. 14PRICING STRATEGY........................................................................................................................................... 15SALES TARGET BY SECTOR................................................................................................................................ 15

TARGET INDUSTRIES FOR MYLINKER ENTERPRISE AND SELF-SERVE ASP SERVICES.........................................15TARGET PARTNERS AND ALLIANCES FOR MYLINKER ASP SERVICES.................................................................16TARGET EYEBALLS FOR MYLINKER ASP SERVICES..........................................................................................16

SHOTECH AMERICA TEAM................................................................................................................................. 18MANAGEMENT TEAM AND KEY TECHNICAL STAFF............................................................................................... 18THE ADVISORY BOARD...................................................................................................................................... 18ORGANIZATIONAL STRUCTURE........................................................................................................................... 18

FINANCIAL PROJECTION.................................................................................................................................... 19REVENUE FORECAST......................................................................................................................................... 19PROJECTED REVENUE ASSUMPTIONS BY FOCUS MARKET...................................................................................20COST OF SALES ASSUMPTIONS.......................................................................................................................... 20

Confidential and Proprietary to Shotech America, 2000. Do Not Distribute. 1

EXIT STRATEGY................................................................................................................................................ 22POTENTIAL ACQUIRERS..................................................................................................................................... 22

APPENDICES..................................................................................................................................................... 23APPENDIX A: MARKET VALIDATION..................................................................................................................... 23APPENDIX B: SHOTECH VS. COMPETITORS......................................................................................................... 29APPENDIX C: KOREAN ACTIVE USER RATES....................................................................................................... 30APPENDIX D: TARGETED PARTNERS AND ALLIANCES...........................................................................................30APPENDIX E: REVENUE FORECASTS................................................................................................................... 38


EXECUTIVE SUMMARY

Welcome to Shotech America, the future leader of the North American e-marketing and e-communication industry. The Shotech name is already associated with unparalleled e-marketing solutions success in Korea and Japan, where its award winning software myLinker has been met with acclaim by end-users and corporations alike.

Shotech Korea enjoys a long list of loyal customers which is impressive by any standard. It includes not only every major media corporation (newspapers, TV stations, online providers) but also multinationals such as Samsung, LG, HP and Coca-Cola. Shotech aims to build on this regional success and establish a premier global e-marketing brand.

PRODUCTSShotechs’s flagship product myLinker is an award winning Real-time Desktop Syndication (RDS) software that enables users to send information real-time according to request specifics. MyLInker is powered by the impressive Shotech engine, which has won over users with its simple setup process and unfailing reliability. MyLinker’s unmatched versatility allows Shotech to offer two distinct product lines to cater to e-communications and e-marketing needs of customers.

MyLinker Enterprise is an internal e-communication software designed to break through the overwhelming information clutter that haunts companies today. Workers are constantly bombarded with product and procedures updates and information that is often irrelevant. As a result, actually important emails and voicemails go unchecked, leading to increased efforts and inefficiencies.

With the implementation of myLinker Enterprise, employees will have the ability to customize the information they receive or would like to receive. This platform not only allows content customization, but also gives users a wide array of delivery choices such as frequency. As a result, employees will spend less time and effort sorting through irrelevant information and companies will see their productivity levels rise.

Meanwhile, myLinker ASP will provide solutions to both content providers and online transaction companies. Content providers will feel the immediate impact of myLinker ASP as it allows end-users to customize the kind and frequency of the information they receive. As a result, they will see the demand for their services increase to reflect user satisfaction.

Online transaction companies arguably stand to gain the most from myLinker ASP. The advertising industry’s abysmal success rates (4% click-through rate or even less sometimes) is a reflection of lack of focus and customer preference identification. However, with myLinker ASP’s click-through rates of 40% or more, companies will see their marketing dollars bear fruits within a short period of time. MyLinker can achieve this because unlike its competition (spam e-mail, banner ads, etc.), it only sends content that is of interest to the potential online buyer. Furthermore, this content is sent in rich-media, which was previously unavailable to e-marketers, increasing the impact and appeal of the message.

MARKET POTENTIALThe online advertising industry is a booming intersection of two trends: growing e-commerce popularity among buyers and increasing online marketing expenditures. E-commerce is projected to reach an all-time high of $211 billion in 2006 thanks to the continually growing consumer confidence on the safety of online transactions. Not surprisingly, companies have responded by vamping up their online marketing expenditures with the hopes of capturing more sales. Within 5 years, the share of advertising expenditure spent on online market has doubled.

Despite these impressive statistics, some sectors are more attractive than others. Travel leads online purchases with $73 billion, thanks to the nature of its products. However, marketing expenditures have not reflected this statistics, and today, travel marketing expenditures remain low both on expenditures and rich media content.


Equally impressive is the statistics for internal communications. Increasing internal communications efficiency has consistently topped the list of priorities across every industry, and the world has seen internal IT expenditures reach $500 billion. These statistics validate the e-communication market that myLinker Enterprise aims to capture.

STRATEGYShotech America will use distinct strategies for each product line to reflect the uniqueness of each market. Firstly, an ASP sales team will be created to cater content, search and navigation services providers that will concentrate primarily on establishing partnerships with these channels and their respective ad agencies that will lead to future client contacts. A second ASP sales team will target online transaction companies with the goal of bringing in revenue. In addition, direct sales will be a large component of revenue as it is ideally positioned to attract growing industries such as online travel. This will allow Shotech America to diversify their revenue streams.

The pricing of myLinker ASP will reflect the overwhelming effectiveness of the product (40% click-through rates) as opposed to the industry benchmark of a mere 4%. It is therefore crucial that customers are effectively persuaded of the benefits that this higher price brings them ultimately.

MyLinker Enterprise will be a stable source of revenue that will be particularly important in the initial stages of Shotech America. The Enterprise sales team will target companies that fit the correct profile: those who have a growing number of employees that make an extensive use of intranet to transfer information.

The exit strategy being contemplated at this point is an acquisition from an interested buyer that will be able to reap the potential synergies. Given the product profiles of Shotech America, the following companies are potential acquirers: Google, Yahoo, AOL, Microsoft and marketing firms.

FINANCIALSThanks to the diversification of its revenue streams, Shotech America will enjoy an early revenue start that will grow steadily gaining momentum. MyLinker Enterprise will provide the revenue stability in the early stages of the business, until the main product, myLinker ASP, has sufficiently large revenue streams to be the profit driver of Shotech America.

Even by conservative projections, it is expected that initial ASP revenues will start flowing in after 7 months and Enterprise sales revenue will not start until month 10, accumulating a first year total revenue of $418,098. As the ASP sales gather momentum, revenues will increase to $3,980,295in second year and reach $11,033,748 by the third.


BUSINESS HISTORY

ABOUT SHOTECH KOREAEstablished in 1996, Shotech Korea has, within a span of a few years, established itself as the premier e-marketing solution developer in Korea. Specializing in information delivery and rich media display technologies, it has a long list of corporate clients that is impressive by any industry standard. Its flagship product myLinker, based on the real-time desktop syndication technology, has handed Shotech an industry-wide recognition and respect, culminating in 2004 with the prestigious Korea Software Award and the Korea Good Technology (KT) Award.

THE EXECUTIVE TEAMShotech boasts an executive team of unparalleled technical and business expertise in the Korean IT industry. Together, the members of the executive team took Shotech Korea to new levels, and aim to establish a successful global brand.

CHAIRMAN/CSO/COO: JAE-MIN KIM

Education- MBA, Rochester University (1984~1987)- M.S. (Computer Engineering), Syracuse University (1981~1983)- B.S. (Physics), Sogang University (1971~1977)

Professional Experience - Chairman/CSO/COO, Shotech (2005~Present)- President/CSO, Duzon Digitalware (2002~2005)- President/CEO, Unisys Korea (2000~2002)- President/CEO, Microsoft Korea (1997~1999)

CEO: Sho Ryu

Education- South Baylor University (1991~1992)- B.S., Suwon University (1988~1992)

Professional Experience - President/CSO, Shotech (1999~Present)- President/CEO, Wavex Co. (1995~1998)- President/CEO, China Business Consulting (1991~1994)

CTO: Young-Sun Kang

Education- M.S., KAIST (1978~1980)- B.S. (Electronic Engineering), Seoul National University (1974~1978)

Professional Experience - Vice-President, Shotech (2003~Present)- President/CEO, Superstar Software (1998~2002)- President/CEO, Cosmos Systems (1987~1989)- R&D Department Team Manager, HP Korea (1984~1987)

SHOTECH’S ACHIEVEMENTS


Shotech’s revolutionary myLinker software has gathered industry-wide acclaim, culminating in the Korea Software Awards and the Korea Good Technology (KT) Award both in 2004. These awards are just a reflection of the popularity that myLinker has experienced in the industry and ensuing financial success. Today, their client network covers all the major media companies (newspapers and broadacting), major internationals (such as Samsung Electronics, Coca-Cola, Hewlett Packard, Yahoo, etc.) and various government agencies.

Shotech is building on its acclaimed success in Korea to launch a global brand that offers B2B and B2C solutions worldwide.

SHOTECH’S CUSTOMERSShotech’s customer list is impressive by any standard. It includes all the major Korean media, as well as multinational corporations from around the world.

Woman/Edu

Newspaper

Entertainment

Shopping Mall

Major Advertiser

Enterprise

Gov’t

Broadcast

Media Univ

Woman/Edu

Newspaper

Entertainment

Shopping Mall

Major Advertiser

Enterprise

Gov’t

Broadcast

Media Univ


SHOTECH’S FUTUREShotech has already established itself as the leading online marketer, penetrating 90% of major online media. Domestically, it is currently expanding into value-added services and using hybrid services such as myLinker.NET to increase its existing market size and expand its customer base to include small and medium businesses and various community organizations. Following its successful licensing of myLinker to Japan and Thailand, Shotech intends to build upon its award-winning performance to date to establish a global brand by offering B2B and B2C services. An increased focus will be placed on its Enterprise clients with the upcoming release of myLinker Enterprise v2.0.


MYLINKER AND PRODUCT STRATEGY

HOW THE SHOTECH ENGINE WORKS

MyLinker is a Real-time Desktop Syndication (RDS) software that allows companies to deliver information real-time as per the user’s requests. At the core of myLinker lies the Shotech engine, which has been developed by Shotech Korea, and is now enjoying wide spread popularity thanks to its seemingly endless list of applications.

The setup process for the Shotech engine has been streamlined and simplified to allow the engine to run with just six steps. First, a simple transfer process of the client information allows the engine access to the pertinent information. Following the registration of the client information on the myLinker server, the client can insert an HTML JS tags into its web server. When users visit a page containing these tags, they are prompted to install the myLinker client module, which will allow them to request and view updated contents from the myLinker server.

myLinker ServerClient Web Server

myLinker Admin

User (End Users)

myLinker ServermyLinker ServerClient Web Server

myLinker Admin

User (End Users)

myLinker ServerClient Web Server

myLinker Admin

User (End Users)

myLinker Server

MyLinker makes full use of this Shotech engine by delivering relevant content to the end user. The active browser window triggers a pop-up screen with the identified relevant content offered in rich media. Unlike pesky pop-up ads, however, the myLinker interface offers an unsubscribe option, further narrowing down the content of interest to the end-user. This choice is entered into the database to form part of a continually evolving user profile.

Blinks when contents arrive

Active Window

Alert Message

User can unsubscribe at any time

POP underdisplay

Blinks when contents arrive

Active Window

Alert Message

User can unsubscribe at any time

POP underdisplay


COMPETITIVE ADVANTAGES

MyLinker’s RDS architecture offers multiple advantages over its competitors. From the start of the installation process, myLinker’s easy and simple installation is designed to reach the broader internet user population. Despite this simple setup process (it only takes 4 seconds to download), myLinker’s skin design allows for a level of user specificity that was previously unavailable. Users can not only customize the content they are interested in, but even set the frequency with which these are provided and the method of alert.

This places myLinker at a great advantage over its competition because the end-user has actually requested this information, hence they are more likely to click on the content. As a result, myLinker enjoys unparalleled click-through rates of 40% (compared to less than 4% for its competitors).1 With the introduction of myLinker, cost-ineffective, mass spamming is bound to become an obsolete method of advertising.

MyLinker further raises its attractiveness by allowing content providers to send information in rich media, overcoming the text-only limitations of its RSS competition. Moreover, advertisers have now the option to target the user geographically thanks to myLinker’s IP tracking features.

myLinker vs. Competitors

0

1

2

3Content Customization

Rich Media Display

Targeting

Easy to set-up

No Personal Info Required

Contents Open Rate

Management & Reporting

User Adoption

myLinker E-mail Banner Ads

The result of these features is that both the end-user and the advertiser benefit greatly from myLinker. The end-user will find that only contents of interest to them are delivered to their desktop in eye-catching rich media form. Satisfaction and trust build up between these users and content providers, maintaining high click-through rates while keeping advertising costs at a minimum.

PRODUCT DEVELOPMENT SCHEDULE FOR ASP APPLICATIONS

1 Appendix C: Korean Active User RatesConfidential and Proprietary to Shotech America, 2000. Do Not Distribute. 9

The development of myLinker is well under track, with features being continually added to the already impressive package. Following the implementation of the global area targeting in mid 2006, skinned RSS, merged RSS and keyword ad features are set to be complete before year-end. Development will be complete in 2007 when user created skins, widgets and standardized banner ads are complete. Rapid progress is being made to meet these milestones with ease.

CORPORATE APPLICATIONS FOR MYLINKER ENTERPRISE

The Problem

Employees today are burdened by overloaded email inboxes, irrelevant broadcast messages, stale information, endless PowerPoint presentations and impossible to navigate intranets. These problems are exacerbated by the difficulty of actually finding the newest and most critical information for their specific field. The relatively recent trend of corporate blogs seem to do nothing more than add another layer of confused corporate messaging to the mix.

Faced with this frenetic environment, businesses are increasingly relying on instant messaging and cell phone communication. However, the sheer volume and complexity of the information only leads to communication ineffectiveness as an increasing number of emails and voicemails are going unattended.

In particular, corporate communications behind firewalls are becoming increasingly more difficult as the workforce disperses globally. Moreover, corporate knowledge workers have to now monitor changes and updates related to their jobs at an ever-increasing pace, lowering productivity.

The Solution: MyLinker Enterprise

MyLinker Enterprise, Shotech’s content delivery platform, allows it to flow freely and effectively throughout the company. MyLinker Enterprise addresses this problem by standardizing, prioritizing, gathering historical and real time information, followed by monitoring and alerting.

For example, employees are constantly directed to the corporate intranet to find out all relevant updates to their company, products, policies, procedures, and hundreds of other areas, preventing them from being productive. MyLinker Enterprise alleviates this concern by monitoring the corporate intranet and feeding the information back to the internal subscriber on a real-time basis. With myLinker Enterprise, the information is packaged, delivered, prioritized based on the requester’s preferences and needs insuring a much greater uptake of knowledge as well as huge productivity savings.

Corporate Showtech Enterprise Modules and Content Management Services


myLinker

R38.5 Skinned RSS

R40 User Created Skins & Widgets, Standardized Banner Ad

R39 Merged RSS,Keyword Ad.

2006 2007

R38 Feedback, improve UI,

Global Area Targeting

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

MyLinker Enterprise allows corporate end-users to customize the actual content, feeds, delivery schedules, audience segmentation, and formatting. The available myLinker Enterprise Modules templates will enable fast setup because they offer a standard look, feel and context by providing recommended content that is widely published in most enterprises as well as internal audience segmentation templates. In essence, modules are the infrastructure that the corporate end-user manager will use to design, deliver, and monitor the content being published through myLinker Enterprise. It allows for a much more rapid adoption within the enterprise because the templates are pre-designed and require minimal adjustments for the specific company.

For example, a major public corporation that needs a program to provide on-going training related to Sarbanes-Oxley can usemyLinker Enterprise, to deploy the Regulatory Compliance Module which already knows which external feeds to monitor related to Sarbanes Oxley regulation. Additionally the templates in the module will offer content recommendations that need to be provided from internal sources. In this example, the internal audit department will want to provide a feed to everyone in the company to ensure that they have received the company’s internal policies on Sarbanes. The company can also monitor whether employees have actually read the policy.

The module will also contain check box lists of subscription menus to recommend which internal audience needs to receive which content related to Sarbanes-Oxley. For instance, the sales management team has far different content requirements than the sales accounting team and each can receive customized real-time content updates (through their subscription menus) through myLinker Enterprise and be monitoring both internal and external content sites automatically.

Some of the modules contemplated by myLinker Enterprise are: HR, Regulatory Compliance, Training, Marketing, Sales, Competitive Intelligence, PR, Product Development, Research & Development, General Information , Channel Partners and Alliance.


MARKET OPPORTUNITIES

MARKET VALIDATION

Advertising2

The past few years have seen dramatic shifts in the advertising industry’s revenue sources and targets. Since 2003, for example, media revenues from consumers have overtaken those from advertisers, as more consumers are willing to spend on content. This is surprising particularly in light of the fact that advertising spending has been making a strong comeback since its decline in 2001. Meanwhile, consumers have steadily spent more on content, even though free content is more readily available than ever before. This shows that consumers are increasingly more willing to pay for relevant content, instead of being boggled down in the midst of ads and uninteresting information.

Meanwhile, online advertising has been continually growing and capturing a higher share of the total industry spending. It is projected that 5.7% of ad industry spending will be online, up from 2.5% just in 2002. In April 2006 alone, the top 50 spenders combined to spend $235 million online, showing a significant growth from past years. This growth can be attributed to an increase in large corporations’ demand for online advertising. In 2004 alone, Fortune 500 companies’ share of online display ad impressions has increased from 23% in Q1 to 30% in Q4.

The conclusion that can be drawn from these industry trends is that although advertising spending is lagging behind as a revenue leader for media, large companies are still willing to increase their spending. The challenge, however, is to capture the attention of the consumer through relevant content that is customized to suit their needs and demands.

E-commerce3

One reason why online advertising spending is booming is due to the fact that consumers are increasingly more willing to spend online. Increasing familiarity and comfort with online transactions is at the core of this continuous trend. As a result, e-commerce revenues are expected to grow 20% from last year to reach an unprecedented $211 billion this year. This increasing trend in online spending further boosts the importance of effective, relevant and eye-catching advertisements on the net in order to capture the attention of today’s online consumer, who is often overwhelmed by irrelevant ads.

Not surprisingly, this increase online spending is fuelled primarily by traditional online purchase categories that due to their product nature, have always facilitated their online purchase. Travel, traditionally the largest category, captured over a third of all online spending with $73 billion. Computer hardware and software followed with a distant yet strong $17 billion. One thing is clear from this increase: consumers are increasingly viewing the Internet as a shopping mall, rather than a mere catalog to find the lowest price. Retailers have further fuelled this process by offering increased availability, wider selection of products, and special online discounts not available at brick and mortar store locations.

Despite these figures, online advertising for the travel industry is lagging both in terms of quantity and quality. Of the $228 million spend on online advertising in April 2006, only $10 million was dedicated to travel, lagging heavily behind financial services ($63 million), retail goods and services ($44 million) and telecommunications ($33 million).

2 Appendix A.1: Advertising Market Validation3 Appendix A.2: E-Commerce Market Validation


Furthermore, travel industry ads have largely been unavailable in rich media, with three-quarters of them utilizing simple text and/or pictures. This is a heavy contrast from the automotive, telecommunications and entertainment industries, all of which offer over 50% of their ads in rich media form.

Given these current trends in e-commerce and the related online advertising statistics, the travel industry is the most promising target for a rich media ad provider such as myLinker. The travel industry has so far been able to reap great online benefits with relatively low advertising expenditures, leaving room for applications such as myLinker to add value. Research shows that B2B represents another great opportunity for online advertisers. Although B2B has been a traditionally competitive field, studies indicate that industrial equipment and services are lagging behind other industries’ marketing efforts. Although e-commerce is not a widely utilized method of purchase, three quarters of potential customers turn to the web for distributor information which leads to actual purchases, which creates a great opportunity for online marketers to bridge this information supply-demand gap. Currently, less than 15% of all B2B online advertising is in rich media form, creating a large void that myLinker can potentially fill.

Internal Communications4

Given that internal spending on IT represents one-third of the $1.43 trillion world-wide IT spending. Moreover, companies are increasingly allocating higher portions of their budget to internal logistics and data sharing (website analytics spending alone has doubled to $1 billion from last year). Even with these impressive growth figures, there is a virtually untapped potential for further revenue growth. Currently, one fifth of companies are withholding IT investments because there are no new functionalities available in products found in the market today.

No IT topic raises as much debate and concern as the subject of communications, both internal and external. Companies are experiencing increasing difficulties in both sectors. Externally, customers are seeing their inquiries being carelessly handled, with close to 50% of companies not responding until several days after. Even when a response is finally sent, half of them tend to be partial answers that do not satisfy the customer’s questions fully.

This inefficiency can be traced back to poor internal communication. Employees handling customer requests rarely have all the necessary information to provide informed answers, and must rely on the expertise of their colleagues to do so. The flow of information arising for internal purposes account for over 60% of data sharing which needs to be done in a fast and accurate manner.

As a result, companies have been searching for innovative ways to communicate. Blogging, for example, is a particularly popular method, with 58% of small companies using it for internal communication. However, its adoption is lagging behind among larger companies, which are the ones that experience communication problems the most. Hence, there is a great opportunity for innovative solutions such as myLinker Enterprise to capture this growing demand.

4 Appendix A.3: Internal Communications Market ValidationConfidential and Proprietary to Shotech America, 2000. Do Not Distribute. 13

COMPETITION

Shotech America identifies email service providers such as DoubleClick for its myLinker ASP services and Feeddemon and Feedburner as its competitors to myLinker Enterprise. DoubleClick’s low click thru rate, 4%, and advertisers’ general perception about email marketing as ineffective tool help Shotech America’s launch of myLinker ASP services. Even the pricing of myLinker ASP benchmarked DoubleClick’s lowest rate per 1,000 sends. The Company offers much more competitive pricing as a new market entrant.

Feeddemon has a corporate application called NewsGator, whose corporate users are largely medium sized law firms. They have huge intranet information and prefer to use the RSS aggregator integrated with Outlook. NewsGator’s feeds go to employees via email, which fails to break through the clutter of inboxes.

FeedBurner currently claims to have 140,000 commercial publishers, podcasters and bloggers. But its revenue models are not concrete and its users complain about less user-friendliness. Shotech America’s flagship product myLinker Enterprise has proved its commercial success in Korea with its visually appealing designs and user-friendliness.

What separates myLinker from competitors is its compelling and working business cases in Korea, Japan and Thailand.5

THE UNMATCHABLE BUSINESS CASE OF MYLINKER: CHOSUN.COM

Chosun Daily has the 4 million circulation, boasting the largest nationwide subscription in Korea. Chosun.com is its online news site, providing contents from its newspaper and sister monthly magazine and other partnering media. It partnered with Shotech Korea and let its visitors download myLinker to their desktops. Within 3 months of such move, Chosun.com experienced its visitors increase from 1.1 million to 1.53 million and page view rank up from 33rd to 17th. Such increase of page view drove an increase of online advertising revenue by 10% for Chosun.com. More surprisinglywithin the 3 month period myLinker was downloaded by 537,000 users or almost 50% of subscribers of Chosun.com.

5 Appendix B: Shotech vs. CompetitorsConfidential and Proprietary to Shotech America, 2000. Do Not Distribute. 14

BUSINESS MODEL AND DEVELOPMENT PLAN

Nielsen/NetRatings indicate that online spending leaped to $5.3 billion in June, 2006, a 71% jump from the previous year and offline spending generated by online research/shopping rose to nearly $5.5 billion. These statistics well supports retailers’ plan to spend more money on online advertising. Travel industry is another sector seeing rapid growth in online sales. According to USDM’s report on Top 10 Travel Forecasts 2006 43 percent of all travelers and 75 percent of online travel planners are booking or making travel reservations online. Email marketing has been the mainstream for online marketing for these advertisers, who want to reach out their potential customers. But online marketers are frustrated with the limit of email marketing, being unable to tract users’ behavior, let alone the low click through rate of email marketing. Knowing who your online visitors are, how they react to offers, and what their purchasing or booking patterns are is critical in 2006. Better technology tracking and analysis will build the case for more advertising revenue and provide assumptions for web site modifications and additions. myLinker will be the solution to these online marketers as the alternative to email marketing in a proven ROI.

MyLinker’s value propositions over email marketing to online marketers are:- Deliverability: only customized feeds delivered to the myLinker box and no spam - Creative and dynamic content: visually creative and appealing messages including rich media - Content: what people want from you and what they will respond to (information, offers, tips)- Personalization: personalized contents - Segmentation & Targeting: Audiences are targeted and segmented- Offer: when publishing an offer, you will get informed about how people respond to the offer - Day of Week/Time of Day/Frequency: what is best for your recipients and less intrusive- Landing Pages: where recipients go after they click on your feed; tracking subscribers’ behavior

SALES STRATEGY

Channels Sales

Shotech USA will create two channel sales teams: a team focusing on content providers, internet search and navigation services providers, and the other focusing on internet music distribution and downloads, online travel and retailers. The first channel sales team focuses on signing up with these channels and their advertising agencies because these partners are not only potential clients for myLinker ASP services but also an excellent conduit to get myLinker out to individual users. For the initial year the first sales team’s priority is an increase of the number of signed partners. The second channel sales team puts revenue increase before anything else. The second channel will be more aggressive using myLinker because they immediately see revenue increases from online sales when they publish customized timely news about their products. In addition, these channel’s online users value a tool that will allow them to receive news about what they are interested in at their convenience, and are likely to quickly download myLinker to their desktops. Hence, the second channel sales team ensures revenue growing from myLinker ASP service sales to these channels.

Direct Sales (Should we include the top three online advertiser verticals such as financial, automotive and retail?)

Given the growth and the techno savvy user demographics, online travel sites including airline websites will make an excellent target clients for myLinker ASP services. Shotech America will have a direct sales team targeting each online travel company with its special promotion using rich media ad campaign in alliance with their advertising agencies. That way the Company ensures that it doesn’t just rely on its channel partners’ push for myLinker ASP and successfully locks in the most desire target for myLinker ASP services.

As the Company grows, the direct sales teams target will grow from the online travel to online content providers, consumer electronics and retailers but for the initial year it focuses on the online travel.


Enterprise Sales

Selling myLinker Enterprise is key to Shotech America’s revenue stability. The Enterprise sales team focuses on companies with a growing number of employees with extensive use of entranet and frequent communications with their large number of distributors and resellers.

PRICING STRATEGY

MyLinker EnterpriseMyLinker Enterprise is priced with a declining per seat price as the number of seats grow. In addition, annual maintenance service fees of 15% apply to each customer. MyLinker Enterprise is priced competitively in order to take full advantage of the lump-sum cash flows that the sale of already developed software can generate.

myLinker EnterpriseTier Employees Price per Seat Package Prices

1 5,000 $15.00 $75,000.00 2 10,000 $12.50 $125,000.00 3 20,000 $10.00 $200,000.00 4 50,000 $7.50 $375,000.00 5 100,000 $5.00 $500,000.00 6 100000 + Custom Custom Quote

MyLinker ASPMyLinker ASP’s pricing strategy reflects the diversity in the needs of its customers. The pricing is set such that customers with different purposes are quoted prices based on their success metric of most importance. For example, manufacturers that need to communicate with channels will be primarily concerned with the price per feed, whereas ad agencies making sales to consumers will measure costs in terms of price per acquisition. This separate pricing strategy also allows Shotech to reap the maximum benefits of the different willingness to pay points of customer groups.

Corporte Categories by Needs for External Communications

Price/1,000 Feed Price/1,000 Click Price/Acquisition

Corporate Vertical (Avg. Frequency/Month 10)

Communicating with Channels yes no no Manufacturers 8Product/Service Information yes yes no

Content providers 20

Last Min Sales yes yes yes Travel 10Customer Acquisition yes yes yes Ad. Agencies

For conservatism, financial projections have been made by pricing myLinker ASP’s prices at 50% of the industry standard (such as Doubleclick):

User #s Shotech America CPM Industry Standard CPM<100,000 $4.25 $8.50


<500,000 $2.00 $4.00>=1,000,000 $0.75 $1.50

The financial projections based on this strategy and assumptions will be further explored later.

SALES TARGET BY SECTOR AND PRODUCT

Target Industries for myLinker Enterprise

Shotech America team used the following matrix in order to identify myLinker’s target market based on myLinker’s superior selling points – rich media and customized real-time delivery:

- Fasted online market growth rate- Growing allocated budget for online advertising- Growing use of rich media in online marketing- Growing need for customized information- Importance of realtime updates

Based on this analysis criteria, target industries have been further narrowed down to automotive, travel, entertainment, consumer goods/retail goods, hardware & electronics and financial.

Shotech America will approach industry leaders with two products: myLinker Enterprise and myLinker ASP. These corporaions will find myLinker Enterprise very useful as a customized real-time tool that facilitates the monitoring of the rapidly changing market. Moreover, it will prove to be a vital internal communication tool exchanging up-to-date information interanlly.

However, although myLinker Enterprise allows enterprise users to easily publish news, updated powerpoints or any webcast to their distributors or the new promotion information to end-users, most organizations lack the internal resources to manage the constantly changing complexities of contents or to analyze hundreds or millions of recipients’ reaction to countless feeds. As a result, they will be likely to outsource their external communication to Shotech America that can deliver an on-demand, inexpensive ASP solution that allows enterprises to monitor customers and distributors behaviour to their publishing.

Target Partners and Alliances for myLinker ASP Services6

Currently, marketing budgets are increasingly shifting into internet, experiential and database/CRM marketing, as clients demand quantifiable results and non-traditional media solutions to build brands and grow sales. As a result, leading advertising agencies are under tremendous pressure to get ‘smart’ about new and online media, increasing their demand for intelligent data.While Shotech America contacts enterprises directly with myLinker Enterprise, the team will concurrently partner with advertising agencies that cater to corporate clients in these sectors since advertising agencies set trends and execute their online marketing budgets. The team has identified the following advertising agencies as our first target partners based on our analysis of the following factors:

- Client base: their client base should cover automotive, travel, entertainment, consumer goods/retail goods, hardware & electronics and financial sectors.

- Usage of rich media: their online advertisings use rich media or tend to increase usage of rich media- Keen to adopt new technologies in their online advertising

6 For a list of target partners and alliances, please refer to Appendix D: Target Partners and AlliancesConfidential and Proprietary to Shotech America, 2000. Do Not Distribute. 17

Target Eyeballs for myLinker ASP Services

Shotech America’s immediate priority is to establish and strengthen the myLinker brand and encourage downloads by end-users. Based on this strategy, Shotech will aim to partner with highly frequented sites in order to obtain as much information as possible on user behaviour. The most trafficked sites in USA are the below by category:

- Retailers: Walmart, JCPenny, Kmart, Target, Sears and Amazon- Content Providers: The Walt Disney Company, CBS corporation, IAC (ASK Jeeve, Ticketmaster,

Citysearch), MTV Networks Company, Cox Enterprises, Inc. (ESPN, autotrader.com, ivillage.com), Advance Publications, Inc. (American City Business Journal), Discovery Communications, Inc., Bertelsmann AG (Sony BMG Music Entertainment), The Hearst Corporation (Cosmo and Esquire), AOL Time Warner, Weather Channel, New York Times, WebMD Health, CareerBuilder LLC

- Internet Search and Navigation Services: ASK jeeve, CNET Networks, Inc., Autonomy, Inc., Shopzilla, Inc., LowerMyBills, Inc., Cisneros Group of Companies (America Online Latin America), TOM Group Limited (Business Weekly and PC Home), Rediff.com India Limited (e-commerce marketplace, India Abroad)

- Internet Music Distribution and Downloads: Apple Computer, Inc., CNET Networks, Inc., Volcom, Inc., AOL Music Now LLC, MusicNet, Inc., ARTISTdirect, Inc., EMusic.com, Inc., easyGroup (UK) Ltd.

- Online Travel: Expedia, Orbitz, Travelocity, hotel.com, priceline, Flyertalk, Breezenet, Concierge, Gridskipper, Hotelchatter, IgoUgo, Kayak, MyTripJournal, SeatGuru, Site59, TravelZoo, Vijaydandapani.com, and online airline sites


SHOTECH AMERICA TEAM

Management Team (I forwarded you their bios)

Interim CEO – Wayne Kim

VP of Marketing (Diane)

VP of Product Development (Brock Taylor)

VP of Sales/Alliances & Partnerships (coming)

Director of Technical Liaise between Shotech Korea and SHotech America (Jay Lee)

Organizational Structure (Pls, modify the chart with Jay Lee)


CEO

VP of Marketing VP of Partnerships and Alliances/Sales VP of Product Development

Product ManagerTechnical Manager

Client Service Manager

Technical/Client Service StaffOperational Staff

Channel Sales TeamDirect Sales Team

Corporate Sales Team

Marketing Manager

Channel MarketingCorporate MarketingMarketing Campaign

Programs

Jay Lee

19

FINANCIAL PROJECTION

REVENUE FORECAST7

Two separate revenue streams have been identified: myLinker Enterprise and myLinker ASP. Pricing assumptions were made conservatively by assuming a 50% of industry standard pricing for Shotech.

It is expected that myLinker Enterprises will yield revenues starting from month 11 and gradually increase its monthly revenue as new customers are acquired. The majority of the revenue comes from the lump-sum package price paid by companies to provide internal communication solutions to their employees. This tier pricing is based on the number of employees using this service (seats). Because these lump-sum amounts are paid at the time of sale, it will provide Shotech America the necessary cash income to fund its ongoing expenses at the beginning of the business.

It is expected that continuing operation and market penetration will increase the number of customer companies and their respective seats, increasing both the total and per-company figures. Because of this two-fold increase, combined myLinker Enterprise revenues are expected to grow from $704,375 in first year to $6,727,500 and $13,800,000 in years two and three respectively.

MyLinker ASP will be offered to two different customer groups: content providers and online transaction customers such as online travel, e-commerce, retail and downloadable music sites. Revenues from content providers are expected to contribute approximately 10% to total revenue. Although it doesn’t generate substantial amount, the content provider stream is a crucial component that will allow myLinker access to customer databases. Online transaction customers are expected to be the primary revenue source of Shotech America in its first three years. Although their feed based revenues contribute 10% of total revenue, the same as content providers, MyLinker’s high click-through rate (CPL) will enable it to reap the benefits of its increasing e-commerce transactions of online transaction customers. As a result, revenues from CPL are forecasted to reflect the strong growth of its user base, growing from $1,248,483 in year 1 to $32,972,508 in year 3, when it will account for three-quarters of Shotech America’s revenues.

Overall, revenue growth for Shotech America looks strong. Thanks to its proven success record in Korea and the already-working engine, it is expected that it will only take 6 months before revenues start flowing in. Increasing market penetration and the expected level of success in the North American market is expected to lead to a strong yet realistic revenue growth, from $1,952,858 in year 1 to $18,621,945 and $46,772,508 in subsequent years.

3 Year Summary of Revenue

Even with the conservative 50% discount pricing assumption, the revenue inflow for Shotech is promising. Revenues are expected to enjoy an exponential revenue growth in three years.

Financial Projection Summary - Shotech America with 50% discounted ASP pricing# of Users Year 1 Year 2 Year 3CP Full-Serve 2,091,000 9,231,000 21,369,000Transac Full-Serve 1,230,000 5,430,000 12,570,000Total Unigue Users 1,660,500 7,330,500 16,969,500Enterprise Rev $ 704,375 $ 6,727,500 $ 13,800,000 CP Full-Serve ASP $ 303,042 $ 2,927,655 $ 8,115,732 Transac Full-Serve ASP $ 153,585 $ 1,722,150 $ 4,773,960 CPL Rev $ 791,856 $ 7,244,640 $ 20,082,816

7 For a full forecast, please refer to Appendix E: Revenue ForecastConfidential and Proprietary to Shotech America, 2000. Do Not Distribute. 20

Total Revenue $ 1,952,858 $ 18,621,945 $ 46,772,508

Relaxing the 50% discount assumption and using the more realistic industry standard pricing, the revenue projections are even more appealing:

Fiancial Projection Summary - Industry Standard ASP pricing# of Users Year 1 Year 2 Year 3CP Full-Serve 2,091,000 9,231,000 21,369,000Transac Full-Serve 1,230,000 5,430,000 12,570,000Total Unigue Users 1,660,500 7,330,500 16,969,500Enterprise Rev $ 704,375 $ 6,727,500 $ 13,800,000 CP Full-Serve ASP $ 606,084 $ 5,855,310 $ 16,231,464 Transac Full-Serve ASP $ 307,170 $ 3,444,300 $ 9,547,920 CPL Rev $ 791,856 $ 7,244,640 $ 20,082,816 Total Revenue $ 2,409,485 $ 23,271,750 $ 59,662,200

PROJECTED REVENUE ASSUMPTIONS BY FOCUS MARKET

MyLinker Enterprise revenue forecast is based on the conservative assumption that the average product price will be $90,000, which is the tier 1 level, representing the lowest package price. The final earned revenue is based on the success rate of the sales people. It is assumed that sales success rates will start from an initial 35% for the first 12 months, and gradually grow to 45% for months 13-16, 65% for months 17-20 before reaching a plateau of 80% for the remaining term. In addition, myLinker Enterprise is expected to generate 15% in annual maintenance revenues.

For myLinker ASP, different sets of assumptions are required for content providers and online transaction companies. For content providers, it was assumed that the number of daily users per provider was 4,000,000, which is conservative, given the fact that average number of daily visitors to top 25 content providers is 33.6 million users. The content provider, expected to publish 20 times a month on average, will pay the same amount as email marketing fees. A click per lead price of $4.00 is also a very conservative number because email service providers charge 30% - 40% of net profit of e-Commerce transaction or $10 per customer acquisition. Email service providers claim that average CPL is 0.8% and Shotech America projects its CPL rate to be 0.4%.

As for online transaction companies, the starting assumption is that each company site handles on average 1,500,000 daily users. The myLinker CPL rate will be higher at 4% since online buyers have stronger, ongoing relationship as well as developing trust with sellers. Each site is expected to publish 30 times monthly on average. Shotech Korea’s CPL rate is proven to be from 15% to 22.5% in 2005 and 2006 so Shotech America’s projected click per lead rate being 4% is conservative as well.

COST ASSUMPTIONS

The following cost assumptions apply to the financial projection:- Royalty: A royalty of 10% of EBITDA is payable to Shotech Korea- Sales Commissions:

o ASP sales commissions are 30%o Corporate solution sales commissions are 14%

- Payroll:o The average salary is $10,000 per montho The number of management and staff employees will increase from 4 at inception to 11 by end of

year 3Confidential and Proprietary to Shotech America, 2000. Do Not Distribute. 21

o The number of sales professionals will increase from 6 to 24- Overhead: Overhead costs are assumed to be 30% of total salary- Hardware costs: After an initial setup cost of $250,000, hardware costs will increase by $40,000 for

every 2 million user increase.- Bandwidth and space: Space and bandwidth will be monthly expense but it will increase by $2,500 per

month for every 2 million user increase.- Operational costs:

o The initial co-location space per 5 million users is 3,000o Internet usage and co-location space costs will increase by $2,500 every 2 million users

3 Year Summary of Expenses

Year 3 Year 2 Year 1

Fixed Expenses 13,010,750$ 6,091,350$ 3,540,000$

Salary 3,570,000$ 2,400,000$ 1,440,000$ Overhead 1,190,000$ 800,000$ 520,000$ sub totalTech & Op & HW 7,800,000$ 2,693,600$ 1,394,000$ Accumulated User # for ASP 37,485,000$ S/W, Co-lo 400,750$ 147,750$ 96,000$ Office 50,000$ 50,000$ 90,000$

Costs of Sales $21,853,706 $8,030,421 $933,896

myLinker Enterprise $1,209,600 $589,680 $123,480myLinker ASP $20,644,106 $7,440,741 $810,416

Total 34,864,456$ 6,091,350$ 3,540,000$

3 Year Summary of Revenue, EBITDA and Profit

Year 1 Year 2 Year 3Total Revenue $ 1,952,858 $ 18,621,945 $ 46,772,508 Total Expenses $ 3,729,892 $ 8,471,309 $ 17,108,473 EBITDA -$ 1,868,909 $ 9,273,136 $ 27,864,036 Royalty Payment $ - $ 927,314 $2,786,404 Profit -$ 1,868,909 $ 8,345,822 $ 25,077,632


EXIT STRATEGY (PLEASE, ADD JD POWER, AUTO INDUSTRY SPECIALIST AS A POTENTIAL ACQUIRER.)

Exit strategies for the Company would involve a strategic merger/acquisition or an IPO. An IPO would be pursued if public markets were receptive in a 36-month timeframe. If consolidation in the market were to occur, a merger could be concluded in the interim. With the clearly define target market focus, emphasis on achieving profitability and strong strategic partnerships the Company will achieve enviable valuation. The Company foresees possible acquirers in the following scenarios:

Acquired by marketing firmsAs online marketers look for stronger user-defined of marketing activities, the current marketing model will experience pressure to once again rapidly growing technology RSS adapt. And such move will add more values to myLinker, the user-friendly syndication technology. As was the case in 2005, interactive marketing and marketing/strategic consulting firms are the most popular areas for expansion. M&A is key driver for this.

Acquired by GoogleCurrently, Google’s information syndication software (Google Desktop), is experiencing limited success. The lack of appealing and customizable content has stifled usage, even though it was offered free of charge. Shotech’s myLinker would therefore be the ideal complement for the limited Google Desktop technology, as it will allow the users to customize the content and frequency of the information, as well as receive them in rich media. Having gone public two years ago, Google has the required size for such a merger.

Acquired by YahooYahoo is a search engine with very strong content providing capabilities and resources. However, one of the limitations is their lack of a real-time delivery option is stifling further growth potential. MyLinker is the ideal channel through which Yahoo can get on the users’ desktop and increase consumer dependency. Therefore, acquiring Shotech America will allow Yahoo to compete with other content providers such as Google Desktop.

Acquired by AOLAOL’s customer segment consists largely of non-internet-savvy users. These users are dependent on AOL to effectively present the content that is of interest to them. MyLinker is the ideal channel through which the company can do this. Rich media and high customization possibilities will strongly appeal to this customer segment. One additional synergy to be created through this acquisition is that myLinker would no longer have to be downloaded separately because it will be bundled with the AOL software.

Acquired by MicrosoftMSN already is a content provider for countless Windows users. However, Microsoft has yet to find an effective way to bring this content directly to the desktop. MyLinker would be the ideal companion to Internet Explorer, while adding the benefits of rich media and customization. Again, this case would allow myLinker to be a part of the Internet Explorer package, eliminating the need for download.

Acquired by JD PowersJD Powers is a trusted global marketing services information firm that provides consumer ratings on goods, most notably car customer satisfaction rates. Unlike other consumer reports issuers, however, JD Powers sells its surveys to automakers who use them in advertisements. It offers both syndicated and proprietary research that needs to be easily accessible by the end-user. MyLinker could prove to the ideal content delivery platform for such a vast research database.


APPENDIX A: MARKET VALIDATION

A.1: ADVERTISING MARKET VALIDATION


A.2: E-COMMERCE MARKET VALIDATION

Advertising Breakdown by Industry, Monthly ComparisonIndustry Total Impressions

April 2006 (M)Total Impressions

March 2006 (M)Change from Previous

Month (%)Automotive 3,351.5 4,237.4 -20.91

B2B 7,560.3 7,075.0 6.86

Consumer Goods 6,561.2 7,905.1 -17.00

Entertainment 3,322.0 6,864.7 -51.61

Financial Services 63,461.4 63,321.7 0.22

Hardware and Electronics 5,414.3 5,007.9 8.11

Health 3,942.8 4,338.3 -9.12

Public Services 16,067.7 13,116.2 22.50

Retail Goods and Services 43,519.2 42,411.6 2.61

Software 5,977.6 5,393.7 10.83

Telecommunications 33,485.5 34,158.4 -1.97

Travel 10,130.9 8,815.7 14.92

Web Media 41,024.8 43,709.9 -6.14

Source: Nielsen//NetRatings, 2006

Online Consumer Spending, 2004 and 2005 2004 ($B) 2005 ($B) Change (%)Holiday Season (November and December)Non-travel (retail) 15.7 19.6 25

Travel 7.4 8.6 16

Total 23.1 28.2 22

Full YearNon-travel (retail) 66.5 82.3 24

Travel 50.7 60.9 20

Total 117.2 143.2 22

Note: Spending excludes auctions and large corporate purchases.

Source: comScoure, 2006

Selected Product Categories' Sales Growth, 2004 and 2005 (%)

GrowthApparel and accessories 36

Computer software (excludes PC games) 36

Home and garden 32

Toys and hobbies 32

Jewelry and watches 27

Event tickets 26

Furniture 24

Flowers, greetings, and gifts 23


Advertising Breakdown by Industry, Ad Unit TypesIndustry Flash (Generic)

(M)Rich Media

(M)Sponsored

Link (M)Standard Image (M)

Standard Image/Text Link (M)

Automotive 1,698.2 191.7 305.8 796.9 358.8

Business to Business 1,159.7 56.9 2,699.0 3,169.9 474.9

Consumer Goods 2,417.2 255.7 1,640.8 1,926.6 320.8

Entertainment 1,336.8 187.1 387.0 1,040.2 370.9

Financial Services 11,079.1 271.0 4,738.5 9,162.2 38,210.7

Hardware and Electronics 1,710.3 46.2 380.8 1,799.8 1,477.2

Health 1,566.9 41.7 887.5 1,345.1 101.8

Public Services 1,299.9 92.0 2,352.8 4,499.2 7,823.8

Retail Goods and Services 5,233.4 233.0 13,190.7 11,956.6 12,905.4

Software 2,444.3 62.2 1,041.6 1,760.8 668.6

Telecommunications 6,860.5 196.3 823.2 20,157.6 5,448.0

Travel 3,038.3 641.7 3,009.2 2,631.1 810.5

Web Media 8,969.0 103.9 15,370.8 8,958.9 7,622.3

Source: Nielsen//NetRatings, 2006

27

Notes:1. Sales exclude auctions and large corporate purchases.2. Sales are non-travel online comsumer spending.

Source: comScore, 2006


A.3: INTERNAL COMMUNICATIONS SPENDING

Most Significant Factors Impacting ITSpending in 2003

Lower profits/revenue 42%

Current systems are adequate 23%

Need new functionality for business competitiveness 19%

No pressure to change/upgrade 8%

Need to integrate old systems more tightly 6%

Lack of support from senior management 4%

Source: Software & Information Industry Association

Preliminary Worldwide IT Services End-UserSpending Estimates for 2002 (Millions of Dollars)

Company 2002Revenue

2002MarketShare

2001Revenue

2002MarketShare

Growth

IBM 40,139.0 7.5% 40,664.0 7.5% -1.3%

EDS 21,122.0 3.9% 20,702.0 3.8% 2.0%

Fujitsu 13,867.4 2.6% 14,351.6 2.6% -3.4%

Hewlett-Packard 12,211.2 2.3% 12.963.6 2.4% -5.8%

Accenture 11,514.0 2.1% 11,599.8 2.1% -0.7%

Others 437,402.1 81.5% 439,291.5 81.4% -0.4%

Total 536,255.7 100.0% 539,572.5 100.0% -0.6%Source: Gartner Dataquest, May 2003


APPENDIX B: SHOTECH VS. COMPETITORS

FEATURES myLinker Feedburner Feeddemon1 Customization Content

ProviderAble to customize GUI of content window for each content provider (like RSS to aggregator)

May customize metrics (admin) page for extra fee

N/A

Advertiser Able to design specifically according to advertiser's demand1. Control creativity2. Flexibility of adding features

Limited ad (TEXT ONLY) display and choice

N/A

End User Environment setting from client program has delivery/content/alert options1. Time to receive 2. Content alert methods

N/A MS Outlook like options, but can be confusing to novice computer users

2 Rich Media Display Content Provider

E-Commerce (Auction)Shows price and item in one page

N/A N/A

Advertiser Campaign (depending on creativity) can instantly be displayed.

N/A N/A

End UserSimple or rich media contentscan be viewed instantly in a single customized window

N/A N/A

3 Membership Targeting

Content Provider

Able to send specified contents to specific group of subscribers based on their preference

N/A N/A

Advertiser Able to send advertisements to preference group

N/A N/A

End User Able to received request specificcontents only

N/A 　

4 IP Targeting Content Provider

Send regional sensitive contents tosubscribers

N/A N/A

Advertiser Send ad to desired location N/A N/A

End User Receive corresponding contents N/A N/A

5 Customized ASP/AD delivery mechanism

Content Provider

Able to send contents at specific delivery schedule (ex. send during high traffic time to maximize readership)

N/A N/A

Advertiser Control impression delivery by ime/day and select media

Yes, may set schedule for text ad impression

N/A

End User Sets final delivery time (default time is selected by content provider)

N/A Limited

6 Real-time News Flash

Content Provider

Send breaking news instantly (simple text only, but within 1 minute-server setup req.)

N/A N/A

Advertiser N/A N/A N/A

End User Receive breaking news real-time, "be the first to know"

N/A N/A

7 Easy Approach / Installation / 300kb download

Content Provider

Little or no html knowledge required to prepare and manage contents

Easy to setup account and use metrics

N/A

Advertiser Choose media and decide on method of ad execution: CPM, CPC, CPA

N/A N/A

End User Little or no html/xml knowledge required to obtain or use service

N/A Difficult for novice usersConfusing as Outlook's many functions

FEATURES myLinker Feedburner Feeddemon


8 Proven Ad / Content monetization

Content Provider

Opt-in window method is simple to setup and easy to obtain subscribers (no personal info required)

Auto RSS tag and worthy Metrics solution attracts content provider

N/A

Advertiser N/A N/A 　

End User N/A N/A Word of mouthHundreds of RSS readers out in market

9 Diverse & Functional Ad Types

Content Provider

Method of Ad does not interfere content readership

N/A N/A

Advertiser Choose from simple banner to Dynamic or interactive flash ad with limited functions

N/A N/A

End User Can close Ad at anytime ('X' button displays at all times)

N/A N/A

10 Easy to obtain Users

Content Provider

Opt-in window method is simple to setup and easy to obtain subscribers (no personal info required)

Auto RSS tag and worthy metricssolution attracts content provider

N/A

Advertiser N/A N/A 　

End User N/A N/A Word of mouth, but there are hundreds of RSS readers out in market

11 Management & Reporting

Content Provider

Manages content and ad delivery, including impressions, CTR, install/uninstall rate, subscriber metrics, etc

RSS metrics: display count and content CTR

N/A

Advertiser Complete report of ad impression count with specific time, CTR, DB collection

Ad display rate and CTR

N/A

End User N/A N/A N/A

12 Tracking Content Provider

Tracks whether contents sent to subscribers were active or inactive and how long was it active on desktop for each CP

Tracks # of end user of RSS media

N/A

Advertiser Tracks how many subscribers viewed ad from which category of media at what time

Tracks # of end user of RSS media and category

N/A

End User N/A N/A N/A


APPENDIX C: KOREAN ACTIVE USER RATES

Category/Site Registered Subscribers

Monthly Active Subscribers Monthly Web Visitors

Media

Chosun 1,872,474 150,848 1,000,000 Sports Chosun 811,275 172,407 n/aSBSi 5,000,344 447,496 1,000,000 SBSi World Cup 431,498 419,197 n/aiMBC 3,493,023 739,882 n/aEBS 1,215,254 395,323 n/aOhmynews 891,736 119,924 n/a

E-Commerce

Hyundai Shopping 531,024 137,118 n/aDoosan Otto 371,826 68,119 n/aAuction 426,627 48,366 n/aCherrya 403,224 45,994 n/a

Misc.

BC Card 351,164 55,423 n/aReal-Estate Guide114 793,931 285,019 n/aHi Seoul City Gov't 550,299 143,565 n/a

God People(Christian Portal) 185,453 56,272 n/a


APPENDIX D: TARGET PARTNERS AND ALLIANCES

Ad agencies Main Clients Usage of Rich Media

Agency.com British Airway, Chevron, e-Bay, CNN Innovative usage of mediaFeeding realtime news of CNN

Avenue A/Razorfish Capital One, Bath & Body WorksMercedes, Levi’s

Levi’s rich media banners

Digitas Buick, GMC, Pontiac and SaabIBM global Web communications, Cingular media, AARP, InterContinental’s Hotel IndigoAmerican Express

AmEx MyWish list -dynamic banner ads

Euro RSCG 4D Computer Associates, JaguarSony Australia, Lexmark InternationalOrange

Digital Land, virtual city for Intel Brazil

FCBi Motorola, Hampton Inn, HP in Latin America, Diet Coke, iTV for SkyTV in UK

Visually appealing HP adDiet Coke’s “Slice of Life” - real-time wire headlines in bannerBuilding credibility as digital specialist

Grey Digital Marketing H&M, Shell, Western Union, Manpower, CIBA Vision, M & M, 3M, Dow Corning, Aleve

Infotainment with media themed

Isobar Revlon, Motorola, Liberty Mutual, Adidas Work notable for media use: the new Adidas_1 employed range of digital media

Media Contacts Vonage (U.S. and U.K.), Dell (Singapore), Coca-Cola (Argentina) and Bayer (U.K. and Mexico)

Volkswagen ad using rich media

Modem Media BBC, Revlon, Delta Airlines, Kraft Trolli Web site combines edgy video, cool graphics.Embrel site - introduced drug with Webcasts, radio and banners

MRM Worldwide Intel, US Army, Mastercard, Nikon Camera, Dell Engaging Nikon camera banners invite users to play by letting them take a picture of one part of a banner ad and then introducing them to specs about Coolpix digital cameras.

Nurun|Ant Farm Home Depot (Canada), Louis Vuitton, AutoTrader.com, Gore-Tex

effort for AutoTrader.com brings rich site features to expandable banner; rich media livens up Home Depot Canada customer e-mail

Organic Bank of America, Mitsubishi, Sirius Satellite Radio, Skip Barber Racing School, Sony Entertainment, Warner Brothers, Jeep

Jeep campaign - adding Google maps to a promo Web site that also included video and a virtual geo-caching game.


Top 50 Internet Advertisers by Media Value, April 2006Position Advertiser Media Value ($000) Sector

1 Vonage 19,654 Tech2 Monster 11,330 Class3 Classmates.com 10,915 Misc4 Dollar Rent A Car 9,691 T/H5 Ameritrade 8,144 Fin6 Netflix 7,948 M/E7 Scottrade 7,630 Fin8 Forex Capital Markets (FXCM.com) 7,428 Fin9 Fidelity Investments 7,210 Fin10 Cingular Wireless 6,211 Tech11 Dell VAR Computers 6,109 Tech12 Dell Dimension Computers 5,895 Tech13 FreeCreditReport.com 5,515 Fin14 University of Phoenix Online 5,498 Edu15 MLB.TV 5,469 M/E16 HomePages 5,282 Class17 E*Trade Financial 5,270 Fin18 Amazon.com 4,367 Ret19 HP Printers 4,079 Tech20 Wal-Mart 4,052 Ret21 Dice 3,879 Class22 LowRateSource.com 3,793 Fin23 Target.com 3,762 Ret24 Verizon Wireless 3,554 Tech25 Charles Schwab 3,520 Fin26 LowerMyBills.com 3,460 Fin27 LendingTree 3,441 Fin28 NexTag Serivces 3,414 Misc29 eBay 3,383 Misc30 Comstock 2,965 Misc31 Mensfacts.com 2,876 M/E32 VacationsToGo.com 2,869 T/H33 Bank of America 2,775 Fin34 Discover Card 2,754 Fin35 Wal-Mart 2,750 Ret36 Overstock.com 2,709 Ret37 DISH Network Satellite 2,696 M/E38 AT&T 2,691 Tech39 ShareBuilder 2,683 Fin40 Circuit City 2,649 Ret41 Lamisil Toenail Fungus RX 2,601 Misc42 JCPenny 2,582 Ret43 Blockbuster Online 2,500 M/E44 PlanetOut.com 2,422 M/E45 CyberTrader 2,422 Fin46 Strayer University 2,408 Edu47 Cingular Wireless & HBO Mobile 2,387 Tech48 T-Mobile Wireless 2,381 Tech49 Thrifty Car Rental 2,366 T/H50 State Farm Insurance 2,334 Fin

GRAND TOTAL $234,720


THE TOP 50 INTERACTIVE AGENCIES

Rank Agency (Affiliation) Headquarters2003 projected revenue (000)

2002 actualrevenue

percentincrease

2003employees

1 Euro RSCG Interaction (Havas) 1 New York $260,000* $239,000 9% 1,225*2 Grey Digital Marketing (Grey Global Group) New York 185,000* 161,000 15 1,070*3 OgilvyInteractive (WPP) New York 176,000* 160,000 10 1,150*4 SBI.Razorfish 2 Salt Lake City 120,000 75,000 60 7005 Agency.com (Omnicom) 3 New York 84,000* 80,000* 5 3485 Digitas Boston 84,000* 72,000* 17 4407 Zentropy Partners (IPG) Los Angeles 76,400* 69,500 10 4908 Tribal DDB (Omnicom) New York 68,000* 52,000 31 475*9 R/GA (IPG) New York 67,800* 56,500 20 26410 Digital@JWT (WPP) New York 63,000* 55,600 13 24011 Modem Media 4 Norwalk, Conn. 60,500* 70,000 -14 21812 Wunderman Interactive (WPP) 5 New York 57,000* 49,198 16 305*13 Avenue A/I-Frontier (aQuantive) Seattle 52,500 45,900 14 22514 Carat Interactive (Aegis) 6 Boston 47,000 36,000 31 27115 FCBi (IPG) New York 45,500* 36,400 25 25716 DraftDigital (IPG) New York 44,000* 39,192 12 23717 Organic (Omnicom) 7 San Francisco 43,000* 37,802 14 22518 iDeutsch (IPG ) New York 42,000* 38,056 10 13119 Tocquigny Advertising, Interactive + Marketing 8 Austin, Texas 41,000 33,000 24 8020 Critical Mass (50% owned by Omnicom) Chicago 37,000* 32,000 16 250*21 AKQA San Francisco 36,000 30,000 20 28022 The Digital Edge (WPP) 5 New York 34,000* 30,000 13 19523 Nurun (Quebecor) Montreal 32,000 39,000 -18 398

24 Medical Broadcasting Company (10% owned by WPP) Philadelphia 28,100* 26,000* 8 141

25 DVC Worldwide Morristown, N.J. 27,600 27,500 0 56*26 Universal McCann Interactive (IPG) New York 25,100* 22,800 10 150*27 IconNicholson New York 24,000 21,000 14 14028 Macquarium Intelligent Communications Atlanta 24,000 20,000 20 11629 imc2 Dallas 23,700 16,400 45 113

30 VML (WPP) Kansas City, Mo. 23,500* 18,800 25 85

31 Planning Group Miami 23,500 18,000 31 8731 Semaphore Partners (Publicis) 9 New York 23,000* 27,000 -15 140*33 Slingshot Dallas 22,500 17,000 32 4534 Starcom IP (Publicis) Chicago 20,900* 19,000* 10 125*

35 Wirestone Emeryville, Calif. 20,000* 20,000 0 109

36 Blast Radius New York 19,000 17,400 9 22537 Blue Dingo New York 18,000 17,000 6 5638 Risdall Advertising Agency New Brighton 17,500 16,000 9 2939 Genex Los Angeles 17,000 12,000 42 100

39 Molecular Watertown, Mass. 17,000 11,700 45 77

41 Campbell-Ewald Digital (IPG) Warren, Mich. 16,700* 16,641 0 8542 RappDigital (Omnicom) New York 15,500* 14,100 10 84*43 atmosphereBBDO (Omnicom) New York 14,500* 7,900 84 80*44 Multimedia Solutions Edgewater, N.J. 13,500 9,900 36 8545 Ten/Resource Columbus, Ohio 12,500 10,500 19 6046 DNA Studio Los Angeles 11,200 9,100 23 102


47 Refinery Philadelphia 10,900 10,400 5 7848 Cadient Conshohocken 10,500 8,700 21 5049 SimStar Internet Solutions Princeton, N.J. 10,000 13,000 -23 5450 HSR Business to Business Cincinnati 9,600 9,100 5 24* Estimated numbers1 Absorbed Havas siblings Magnet, Brann, others from Arnold and Media Planning Group2 Acquired Razorfish, March 2003; Xcelerate, January 20033 Acquired by Omnicom, July 20034 Interpublic divests to 0.6% ownership, December 20035 Wunderman Interactive media billings merged into The Digital Edge, June 20036 Acquired Freestyle Interactive, May 20037 Acquired by Omnicom, February 20038 Fiscal year numbers reported, April '02 through March '03 /font>

APPENDIX E: REVENUE FORECASTS

50% OF INDUSTRY STANDARD PRICING, YEAR 1

Quarter Y1Q1 Y1Q2 Y1Q3 Y1Q3 Year 1Salary $160,000 $290,000 $410,000 $420,000 $1,280,000

Overhead $64,000 $116,000 $136,667 $140,000 $456,667 sub totalTech & Op & HW $458,000 $312,000 $312,000 $312,000 $1,394,000 Accumulated User # for ASP $0 $0 $1,579,500 $4,131,000 $5,710,500 User # overlap discount S/W, Co-lo $24,000 $24,000 $24,000 $24,000 $96,000 Office $60,000 $30,000 $0 $0 $90,000

Total $766,000 $772,000 $882,667 $896,000 $3,316,667 Accumulate Expense Total $1,694,000 $3,756,000 $6,366,000 $9,054,000 $20,870,000

myLinker Enterprise $0 $0 $0 $612,500 $612,500Maintenance Fees $0 $0 $0 $0 $0

Full-Serve ASP ServicesContent Providers $0 $0 $71,553 $231,489 $303,042 ASP New User Numbers 0 0 1,020,000 1,071,000 2,091,000 Accumulated Users 0 0 1,989,000 5,202,000 7,191,000 CPL Revenue $0 $0 $31,824 $83,232 $115,056

Online Transaction $0 $0 $31,590 $121,995 $153,585ASP New User Numbers 0 0 600,000 630,000 $1,230,000Accumulated Users 0 0 1,170,000 3,060,000 4,230,000 CPL Revenue $0 $0 $187,200 $489,600 $676,800

Quarterly Revenue $0 $0 $322,167 $1,538,816 $1,860,983


Costs of SalesmyLinker Enterprise $0 $0 $0 $153,125 $153,125 myLinker ASP $0 $0 $67,118 $192,983 $260,101

Total Cost of Sales $0 $0 $67,118 $346,108 $413,226

EBITDA ($766,000) ($772,000) ($627,618) $296,709 ($1,868,909)Royalty Payment $0 $0 $0 $0 $0




Overhead $160,000 $186,667 $213,333 $240,000 $800,000 sub totalTech & Op & HW $488,800 $561,600 $676,000 $800,800 $2,527,200 Accumulated User # for ASP $19,075,500 $22,477,500 $26,973,000 $32,319,000 $100,845,000 User # overlap discount S/W, Co-lo $24,250 $28,500 $34,000 $40,500 $127,250 Office $0 $0 $50,000 $0 $50,000

Total $1,153,050 $1,336,767 $1,613,333 $1,801,300 $5,904,450 Accumulate Expense Total $12,244,950 $16,007,550 $20,610,333 $25,829,350 $74,692,183

myLinker Enterprise $900,000 $975,000 $2,475,000 $1,500,000 $5,850,000Maintenance Fees $0 $0 $0 $0 $0

Full-Serve ASP ServicesContent Providers $1,068,935 $1,259,573 $1,511,487 $1,811,061 $5,651,055 ASP New User Numbers 1,224,000 1,632,000 1,989,000 2,295,000 7,140,000 Accumulated Users 24,021,000 28,305,000 33,966,000 40,698,000 126,990,000 CPL Revenue $384,336 $452,880 $543,456 $651,168 $2,031,840

Online Transaction $628,785 $740,925 $889,110 $1,065,330 $3,324,150ASP New User Numbers 720,000 960,000 1,170,000 1,350,000 $4,200,000Accumulated Users 14,130,000 16,650,000 19,980,000 23,940,000 74,700,000 CPL Revenue $2,260,800 $2,664,000 $3,196,800 $3,830,400 $11,952,000

Quarterly Revenue $5,242,856 $6,092,378 $8,615,853 $8,857,959 $28,809,045

Costs of SalesmyLinker Enterprise $180,000 $195,000 $495,000 $300,000 $1,170,000 myLinker ASP $904,762 $1,066,120 $1,279,344 $1,532,908 $4,783,134

Total Cost of Sales $1,084,762 $1,261,120 $1,774,344 $1,832,908 $5,953,134

EBITDA $3,005,044 $3,494,491 $5,228,175 $5,223,751 $16,951,461 Royalty Payment $0 $0 $0 $0 $0



Quarter Y3Q1 Y3Q2 Y3Q3 Y3Q4 Year 3Salary $720,000 $840,000 $960,000 $1,050,000 $3,570,000

Overhead $240,000 $280,000 $320,000 $350,000 $1,190,000 sub totalTech & Op & HW $7,935,200 $8,080,800 $8,268,000 $8,476,000 $32,760,000 Accumulated User # for ASP $306,180,000 $312,255,000 $320,031,000 $328,536,000 $1,267,002,000 User # overlap discount S/W, Co-lo $383,250 $390,750 $400,250 $411,000 $1,585,250 Office $0 $0 $50,000 $0 $50,000


myLinker Enterprise $1,500,000 $3,500,000 $2,200,000 $4,800,000 $12,000,000Maintenance Fees $0 $0 $0 $0 $0

Full-Serve ASP ServicesContent Providers $17,157,420 $17,497,845 $17,933,589 $18,410,184 $70,999,038 ASP New User Numbers 2,295,000 2,805,000 3,366,000 3,672,000 12,138,000 Accumulated Users 385,560,000 393,210,000 403,002,000 413,712,000 1,595,484,000 CPL Revenue $6,168,960 $6,291,360 $6,448,032 $6,619,392 $25,527,744

Online Transaction $10,092,600 $10,292,850 $10,549,170 $10,829,520 $41,764,140ASP New User Numbers 1,350,000 1,650,000 1,980,000 2,160,000 $7,140,000Accumulated Users 226,800,000 231,300,000 237,060,000 243,360,000 938,520,000 CPL Revenue $36,288,000 $37,008,000 $37,929,600 $38,937,600 $150,163,200


Costs of SalesmyLinker Enterprise $210,000 $490,000 $308,000 $672,000 $1,680,000 myLinker ASP $14,522,288 $14,810,428 $15,179,248 $15,582,645 $60,094,609




INDUSTRY STANDARD PRICING


Overhead $64,000 $116,000 $136,667 $140,000 $456,667 sub totalTech & Op & HW $458,000 $312,000 $312,000 $312,000 $1,394,000 Accumulated User # for ASP $0 $0 $1,579,500 $4,131,000 $5,710,500 User # overlap discount S/W, Co-lo $24,000 $24,000 $24,000 $24,000 $96,000 Office $60,000 $30,000 $0 $0 $90,000

Total $766,000 $772,000 $882,667 $896,000 $3,316,667 Accumulate Expense Total $1,694,000 $3,756,000 $6,366,000 $9,054,000 $20,870,000

myLinker Enterprise $0 $0 $0 $612,500 $612,500Maintenance Fees $0 $0 $0 $0 $0

Full-Serve ASP ServicesContent Providers $0 $0 $143,106 $462,978 $606,084 ASP New User Numbers 0 0 1,020,000 1,071,000 2,091,000 Accumulated Users 0 0 1,989,000 5,202,000 7,191,000 CPL Revenue $0 $0 $31,824 $83,232 $115,056

Online Transaction $0 $0 $63,180 $243,990 $307,170ASP New User Numbers 0 0 600,000 630,000 $1,230,000Accumulated Users 0 0 1,170,000 3,060,000 4,230,000 CPL Revenue $0 $0 $187,200 $489,600 $676,800

Quarterly Revenue $0 $0 $425,310 $1,892,300 $2,317,610

Costs of SalesmyLinker Enterprise $0 $0 $0 $153,125 $153,125 myLinker ASP $0 $0 $88,606 $266,625 $355,231

Total Cost of Sales $0 $0 $88,606 $419,750 $508,356

EBITDA ($766,000) ($772,000) ($545,963) $576,550 ($1,507,413)Royalty Payment $0 $0 $0 $0 $0


INDUSTRY STANDARD PRICING, YEAR 2


Overhead $160,000 $186,667 $213,333 $240,000 $800,000 sub totalTech & Op & HW $488,800 $561,600 $676,000 $800,800 $2,527,200 Accumulated User # for ASP $19,075,500 $22,477,500 $26,973,000 $32,319,000 $100,845,000 User # overlap discount S/W, Co-lo $24,250 $28,500 $34,000 $40,500 $127,250 Office $0 $0 $50,000 $0 $50,000


myLinker Enterprise $900,000 $975,000 $2,475,000 $1,500,000 $5,850,000Maintenance Fees $0 $0 $0 $0 $0

Full-Serve ASP ServicesContent Providers $2,137,869 $2,519,145 $3,022,974 $3,622,122 $11,302,110 ASP New User Numbers 1,224,000 1,632,000 1,989,000 2,295,000 7,140,000 Accumulated Users 24,021,000 28,305,000 33,966,000 40,698,000 126,990,000 CPL Revenue $384,336 $452,880 $543,456 $651,168 $2,031,840

Online Transaction $1,257,570 $1,481,850 $1,778,220 $2,130,660 $6,648,300ASP New User Numbers 720,000 960,000 1,170,000 1,350,000 $4,200,000Accumulated Users 14,130,000 16,650,000 19,980,000 23,940,000 74,700,000 CPL Revenue $2,260,800 $2,664,000 $3,196,800 $3,830,400 $11,952,000






INDUSTRY STANDARD PRICING, YEAR 3

Quarter Y3Q1 Y3Q2 Y3Q3 Y3Q4 Year 3Salary $720,000 $840,000 $960,000 $1,050,000 $3,570,000

Overhead $240,000 $280,000 $320,000 $350,000 $1,190,000 sub totalTech & Op & HW $7,935,200 $8,080,800 $8,268,000 $8,476,000 $32,760,000 Accumulated User # for ASP $306,180,000 $312,255,000 $320,031,000 $328,536,000 $1,267,002,000 User # overlap discount S/W, Co-lo $383,250 $390,750 $400,250 $411,000 $1,585,250 Office $0 $0 $50,000 $0 $50,000


myLinker Enterprise $1,500,000 $3,500,000 $2,200,000 $4,800,000 $12,000,000Maintenance Fees $0 $0 $0 $0 $0

Full-Serve ASP ServicesContent Providers $34,314,840 $34,995,690 $35,867,178 $36,820,368 $141,998,076 ASP New User Numbers 2,295,000 2,805,000 3,366,000 3,672,000 12,138,000 Accumulated Users 385,560,000 393,210,000 403,002,000 413,712,000 1,595,484,000 CPL Revenue $6,168,960 $6,291,360 $6,448,032 $6,619,392 $25,527,744

Online Transaction $20,185,200 $20,585,700 $21,098,340 $21,659,040 $83,528,280ASP New User Numbers 1,350,000 1,650,000 1,980,000 2,160,000 $7,140,000Accumulated Users 226,800,000 231,300,000 237,060,000 243,360,000 938,520,000 CPL Revenue $36,288,000 $37,008,000 $37,929,600 $38,937,600 $150,163,200






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