CC Highlights:
1. Mex/Nor launch is first 2.0 and feedback has been positive;
2. Nor bundling IRIS to DSL subs with take rate to DSL subs as 95%;
3. Want to take that momentum from Nor to Mex - Jacobo VERY confident of launch to all of Mexico very soon (and to more of Latin America) and Dean is VERY VERY confident of such launch;
4. Met last week with Sr. Exec of Mex re: launch to Mex, who reports directly to Slim;
5. MTNL with 6 MM subs in Mumbai and Delhi and came to ONEV wanting e-mail feature with likely launch by Jan/Feb 2008, and that launch alone could lead to breakeven, not even considering Mexico;
6. INTL came to ONEV for VR in mobile device for reference design in such devices, with recent presentation to a very large carrier and handset manufacturer;
7. 2008 rollout of these devices and ONEV would hopefully be VR platform on wimax device;
8. Teaming agreement with MOT is to jointly work with MOT to launch product to MOT customers - voice search for media access;
9. In-car VR with Sync, ONEV see telematics opportunity given industry leader, and a very large European manufacturer came to ONEV last month and made presentation to car manufacturer with German executive;
10. 2008 outlook
- voice-control demo at CES for UMPC product;
- VoiceTunes product for all digital media, with launch hopefully in CC and Wal-Mart;
- Say2Play launch for games;
- Plug-in for Streetdeck application;
- Voice search in general as demand increases
11. Steve T. asked breakeven this year? - breakeven prediction made on Mexico assumption of earlier launch, but no further statement by Dean on expected breakeven;
12. Kevin asked about remote control? - remote control for media center in family room environment, and ONEV wants to get right product out and people want more than a media controller, but want more remote control functionality, and the redesign requires more effort than ONEV has time to devote, and also waiting for Tier One manufacturer showing interest in it;
13. John C. asked about numbers coming in on products offered and financing? - Dean said look back at SEC financials, which does not account for any Nor revenue. Loan basis going forward rather than share equity (but the seems to defy recent amendments to loan facility). Dean talked about TellMe buyout and valuation.
14. Patrick R. asked again about revenue from Nor, and specifically about breakeven point and how many IRIS users currently? - Dean can't give exact numbers, the 95% take-rate is coming from outbound sales efforts by Nor. No comment about breakeven point;
15. Bob D. asked about DSL and other Nor revenues? - No income from DSL, but ARE receiving revenue from telephone subs at Nor;
16. Tim V. asked about capital structure and fully diluted O/S and whether company can buyback convertible shares? - Fully diluted in SEC filings, and company COULD buyback convertible shares;
17. Tim asked about issues re: takeover? - The voice space is a hot sector, but Dean says looking at all opportunities without saying specifically that he is looking at a buyout, other than saying that he would consider opportunity presented. Thinks that there will be greater focus given to ONEV now that Nor has launched;
18. Steve asked about incoming revenues and whether there is need for greater dilution? - In the near-term, additional funding will be necessary from toxics, but in form of loan rather than convertibles;
19. David C. asked about R/S of shares? - Dean wouldn't comment specifically, but noted that they can be problematic, but are debating it internally, but do have a lookout to Nasdaq over next three years;
20. Charlie S. asked about how ONEV gets to Nasdaq without R/S? - Dean says can do it by meeting Nasdaq criteria, including PPS, and Nasdaq is discussed at board meetings;
21. Robert H. asked about MCC and production of the MCC/Voice Tunes this year? - Dean says that MCC is through distribution through Ingram and Navarre, and Voice Tunes will be through them, too ($29.95 MSRP for Voice Tunes suggested).
Unfortunately, we didn't get a chance, given the one question limit and the concerns about revenues, to ask about Tier One launch for MCC. Will note that Tier One launch NOT mentioned as outlook/goal for 2008.
