uVuMobile, Inc.(fka UVUM)

[IRBeach]

In the fourth quarter 2008, the Company allowed various noteholders to exercise their warrants associated with the issuance of convertible debt at a different exercise price than stated in the agreements. The exercise prices as stated in the agreements were $.064 and $.074, however, the warrants were all exercised at $.01. As a result of this reduction in the related warrant exercise price the Company recorded interest expense of $1,188,848 and increased additional paid in capital associated with the accounting for the modification for $1,188,848 in accordance with U.S. generally accepted accounting principles.