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eom7

08/30/06 7:21 PM

#355 RE: fromtheuk #354

Another OSK filing...
Taken from filing:
http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=4363220&doc=1&total=110&back...


We propose that we will triple our product development
investments to $450,000 over the next 12 months in order to launch theCallOnA.com service offering from its current beta version, as well as improve our current capacity to offer white-label software in the Residential and Business VoIP services market to our major Sales partners.

CallOnA.com Services

The objective of CallOnA.com is to increase the number of subscribers and users of the free calling services in order to translate the web traffic (amount of
users visiting the website) into advertising and promotional revenues. We intend to offer free calling across numerous countries over our VoIP calling network in
order to entice customers to utilize the service. We estimate an average phone call of 3 minutes which translates to a per call cost of $0.04. We intend to
invest $750,000 in free calling which will translate into 18.8 million calls. We anticipate that this will generate at least 5 million unique users, which could
potentially generate up to $1.2M of annualized revenue on publicity alone. This then opens up the possibility to sell "click-to-call" services to our web
advertising customers permitting them to enhance their customer experience and increase the rate as to which they qualify and convert new prospects into paying
customers. The balance of the $650,000 will be used to purchase web-based advertising of the CallOnA.com services in order to increase our customer base.

Symbol: We currently are listed on the pink sheets under the symbol OSPK.PK(which symbol shall change upon the acceptance of our name change to telephone corp. by NASSDAQ). There is no market for our securities at present and no shares have been traded.

http://callona.com

Our offering price of $0.25 per share was arbitrarily determined by us based solely upon an increase over the prices paid by earlier investors in our
company. It is not based upon an independent assessment of the value of our shares and should not be considered as such.

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www.teliphone.us

Teliphone Corp. is a telecommunications company engaged in the development and deployment of next generation internet based telephony and mobile telephony communications. Our April 2005 merger and re-organization with Teliphone Inc., a
global internet telephony service provider founded in August 2004, permitted us to focus on this high growth market segment effective.

As part of the merger and reorganization with Teliphone Inc., we became a majority owned subsidiary of Teliphone Inc.'s parent company, United American Corporation, a Florida Corporation trading on the NASD OTCBB under the symbolUAMA. United American Corporation management now proposes to spin-off Teliphone. To complete the spin-off, management proposes to distribute Teliphone's
25,737,785 shares of common stock on a pro rata basis to its shareholders.


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In November of 2007, we will launch CallOnA.com, a new and innovative web-based calling system which will permit us to expand our revenues into the on-line web advertising space. At the time of filing this prospectus, we are in beta testing
of this new product. We intend to form a wholly owned subsidiary who will continue to develop and to commercialize this new product.

CallOnA.com is a web-based service permitting users to register for a free account in order to place long distance calls over our VoIP network for free or very little cost. The objective of this new service is to produce a significant
amount of website visits in order to increase the promotional value of the website on the basis of CPM ("Cost per 1000 impressions", a banner advertising
method to produce revenues based on the number of visits to a specific page that an advertiser has promotional presence), CPC ("Cost per Click", a price that is paid to CallOnA.com by the advertiser should the user actually click on the
advertising link in order to visit the advertisers website) and "CPCall" (CPCall is a new and innovative method that is proprietary to CallOnA that permits, at the click of the user, to be connected to the advertiser over the telephone.

The CPCall industry is anticipated to grow from its current size of $60M in 2006 to $3.7B by 2010 according to research firm The Kelsey Group.

CallOnA.com is a global communications engine that will permit the Company to complement its service-based revenues with advertising revenues. It is anticipated that the Company will form a new wholly-owned subsidiary to manage this aspect of the business. Our target market is people who would like to ensure confidentiality in their communications (ex. Dating websites), in-bound
customer service call centers of large corporations looking to enhance their customer experience through the addition of a "click to call" button on the
website instead of merely "click to chat", as well as consumer and businesses who are looking to reduce their long distance fees for their local and mobile
phone service.

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Phase 1- Development - September 2004 to September 2005 (COMPLETE)

-Development of a proof-of concept platform for VoIP calling services

- Migration to a highly scalable, production platform
- Develop a strong Retail Distribution Channel in the local market
- 62 retail points of sale, including over 200 trained sales representatives
- Establish a 1,000 customer base in order to streamline and perfect order
management, provisioning, billing and customer service.
- Establish a framework to work with International partners in order to expand
market reach through Joint Venture.

Phase 2- Expansion of service model, leverage existing network - November 2005
to September 30, 2006 (BRIDGE)

- Achieve Cash Flow Positive Operations within 12 month timeline
- Complete IPO on the NASD OTCBB exchange
- Execute Web-based marketing campaign o Expand network reach to Europe, Asia

Phase 3- Customer growth, equipment acquisition, integration to MVNO - May 2006
to 2007

- Grow customer base organically and through acquisition of smaller players
- Intensive partnerships and R&D activities in the emerging VoIP-MVNO segment
- Begin to market at the retail level as the first Canadian MVNO-VoIP carrier

NOTE: MVNO, or Mobile Virtual Network Operators, purchase local air-time minutes
from Tier 1 cellular carriers at the wholesale level. Equipment, such as the
Mobile SIP Exchange, permits a gateway to handoff cellular calls to VoIP calls.

Phase 4- Expansion as MVNE to Tier 1 & 2 international carriers - 2007 +

- The Company will move to solution sale revenues with monthly royalties to
complement its retail and wholesale operations.

NOTE: MVNE, or Mobile Virtual Network Enabler, will permit The Company to
leverage existing Tier 1 carriers' customer base by offering value added
technology and services to the larger, established players. This positioning
will strengthen The Company as consolidation will occur.