Betawave Corporation (BWAV)

[FASTIMES]

Nice read i found, put out during the beginning of December:


Since YouTube.com launched and subsequently was acquired by Google for over $1.6 billion every programmer that has the ability to create a video uploading service for users worldwide without violating copyrights or trademarks have been doing so. To date GoFish is probably the most closely related website that in a way mirrors YouTube, I just wonder if this will bring up legal programming issues from Google, it’s doubtful but you never know.

Putting that aside, the next issue that comes to the forefront is their user base and traffic. YouTube draws tens of millions of viewers per month, that is what made the website valuable as it provided a vehicle that could be monetized by a company such as Google. GoFish actually does seem to have the potential to reach similar heights on the traffic front in 2007, one interesting addition that they have on their site is a contest called “America’s Dream Date” which is an interactive reality show of sorts that allows for any GoFish user to upload their videos for a chance to win a trip to Paris.

It’s a unique way of marketing their site to attract more users, and as I’ve always said in the past content is king, if a site has compelling content the masses will come.

Now let me give you some background on the public front, the company reverse merged into a OTC Bulletin Board shell by the name of Unibio, Inc, they raised $12 million in a private placement that would allow them to execute their business plan. They have hired some key executives to assist with the companies growth, so in short it seems as though they are positioning this company to get off the OTCBB exchange and move onto, in my opinion, the Nasdaq once they meet all the requirements, which they may be reaching in short order. The vehicle which is GoFish.com, once monetized, should add tremendous value to the company.

The stock moved from a low of $2.40 to a high of $4.75 and has since slipped down, but you need to look at the volume. Now normally we do not focus on OTCBB stocks unless they are unique and have growth potential. I do not think that this company will fetch $1.6 billion as YouTube did but I do think that they may be a good tie in for Yahoo (NASDAQ: YHOO) as Yahoo! is in dire need of a way to grab market share from Google.

Even though Iran just blocked YouTube from being accessed in that country, their reach is not stunted, and neither is the reach of GoFish.

This is a high-risk situation due to the exchange that it trades on, its short life as a public company and the arena that they are in. Do I think that GoFish is lining up their duckies for something huge?, without a doubt, but and this is a big but, investors that can not take the risk should not be investing in the OTCBB market, it’s risky. For those risk takers GoFish is definitely one to take a close look at, hopefully we’ll be able to get some input from the CEO in the near future so that we can get more clarity on the future of the company.