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Monday, November 19, 2007 6:39:35 PM
....In April 2007 the Company released its new web based platform WebDA ™ , moving the company from a server based platform operation, thus eliminating the high cost of maintaining inventory and installation costs. Our revenues are now generated from a one-time up-front payment and monthly recurring fees covering software licenses. Our license agreements are provided in twelve, twenty-four and thirty-six month terms. Typically, a $2,500 down payment, booked upon agreement of the contract, and a monthly fee of $1,500 over a twelve month term (these are approximate amounts, since exact amounts are negotiated between the Company and the customer) is booked monthly as revenue at an average annual fee of $20,500, inclusive of the down payment.
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