When you say "software," think of it as software that doesn't install itself on everyone's individual computer. It is software that runs on their own servers that you can use through your web browser.
Think of it in terms of other web-based services like Gmail or Facebook or even iHub!
Some advantages to this are that the individual users never need to update their software. It happens automatically on F3's servers. There is no need to install software or download anything. You login, and then you are ready to roll. Interaction also takes advantage of other modes of communication in case the user doesn't want to logon everyday...they can receive emails, phone text alerts, etc.
F3 sets up a custom community portal for each individual HOA. The HOA pays them a set monthly or annual fee to use this service, plus a monthly per user fee.
OR
F3 sets up a custom community portal for each individual HOA. And then ads generate the revenues. In scenario #1, there are no ads (or very few ads), in scenario #2, there are ads. Either way F3 makes bucks.
The most recent PR stated that they should be profitable through the deal with Coastal Publishing. I spoke to Robert Rico (the arbiter of the deal between F3 & Coastal) this past week and he told me a couple interesting things: 1. This deal is an ad-based deal only. Coastal has been publishing an ad-based hardcopy HOA newsletter for years and has made huge money (so they have relationships with hundreds of advertisers!!). 2. This deal is only for the DADE county and according to Robert when Frank gave the profitability prediction, he was using projected numbers given by Coastal only for the Dade county area!!!!!! Bottom line...profitability is right around the corner with JUST THIS ONE DEAL. And looking over the PRs, and taking into account some of what has been said in recent video conferences...this is just one of many deals they've already sealed. Boo yah!
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