Our operating results have been in the past, and in the future are likely to be, subject to quarterly and annual fluctuations as a result of numerous factors, including: · changes in the growth rate of our members, · changes in the usage of Quepasa. In June 2008, we redesigned the sign-up and invitation pages of our site, resulting in approximately a 50% increase in the number of new users who invited friends and contacts to join Quepasa. About Lyrsa Editores Lyrsa Editores is a Mexican publisher founded over seventy years ago and today is an established leader in the distribution and production of lifestyle publications in Mexico. Additionally, changes in working capital impacted the net cash used in operating activities. According to the Selig Center, U.
Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. As a licensee of Playboy Mexico, elgourmet. As a result, if factors change and we use different assumptions, our stock-based compensation expense could be materially different in the future. One of these Cyber Girls will be chosen for the cover girl for a 2010 edition. Roberto Bolaño - Home Facebook Email or Phone: Password: Forgot account? Our data centers are subject to break-ins, sabotage and intentional acts of vandalism, and to potential disruptions if the operators of these facilities have financial difficulties. Estimates that are particularly sensitive to future changes include those related to tax, legal, and other regulatory matters that are subject to change as events evolve and additional information becomes available. The amount of compensation is being amortized over the lengths of the contracts.
There were no options exercised under this plan during the years 2009 and 2008. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. Fair Value of Financial Instruments We measure our financial assets and liabilities in accordance with generally accepted accounting principles. For the portion of banner advertising inventory that we do not sell direct, we work with the leading ad networks to fill the unused ad inventory with banner advertisement aggregated by those ad network partners. Significant Customers and Concentration of Credit Risk During 2009, one customer comprised 55% of total revenues. When existing management attempted to liquidate company assets, Peterson with Silberman gained control of Quepasa through a successful hostile and subsequent to a lawsuit filed against the company and the current board of directors by Silberman. Ve el perfil de Felipe De la Fuente Saldaña en LinkedIn, la mayor red profesional del mundo.
Because we are subject to the penny stock rules, brokers cannot generally solicit the purchase of our common stock which adversely affects its liquidity and market price. Specifically, we are focusing our partnership efforts on entertainment, nightlife and gossip. This guidance requires that the Company recognize in its financial statements the impact of a tax position if that position is more likely than not of being sustained upon audit, based on the technical merits of the position. This guidance was effective for fiscal years beginning after December 15, 2008. We have posted on our and many of our affiliates websites our own privacy policies and practices concerning the collection, use, and disclosure of user data. Additionally, changes in working capital impacted the net cash used in operating activities.
Quepasa re-launched the site on February 6, 2008, to be solely a Hispanic social network with content provided by the user community. Through 2007, we used the simplified method to determine the expected option term, based upon the vesting and original contractual terms of the option. This guidance is effective for the Company as of January 1, 2009. The adoption of this guidance has not had a material impact on the Companys consolidated financial position and results of operations. Hispanics use the Internet today. We consider the Quepasa trademark and our related trademarks to be valuable to Quepasa and we have registered these trademarks in the U.
Managements Discussion and Analysis of Financial Condition and Results of Operations. If such assets are considered to be impaired, the impairment loss recognized is the amount by which the carrying value exceeds the fair value of the asset or estimated discounted future cash flows attributable to the asset. If we fail to retain our key personnel, we may not be able to achieve our anticipated level of growth and our business could suffer. Financial Statements and Supplementary Data See pages F-1 through F-20. The provisions of this guidance were effective for the Company on January 1, 2007, with the cumulative effect of the change in accounting principle, if any, recorded as an adjustment to opening accumulated deficit. Latin America has shown an 890% growth in Internet penetration from 2000-2009 and now makes up 10% of the world Internet population.
Because of the diverse number of countries including Mexico and those located in Central and South America, we will be required to focus our business on unique local cultural differences which vary from country to country. The adoption did not have a material impact on our results of operations, financial position or liquidity. Actual results could differ from those estimates. Because our officers and directors do not solely by virtue of their ownership of our common stock control Quepasa, it is possible that third parties could obtain control and change the direction of our business. In particular, John Abbott, Chief Executive Officer, Michael Matte, Chief Financial Officer and Louis Bardov, Chief Technology Officer are important to the management of our business and operations and the development of our strategic direction. On January 1, 2008, the Company adopted guidance that defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.
This pricing model can be vulnerable to 20 so-called click fraud, which occurs when clicks are submitted on ads by a user who is motivated by reasons other than genuine interest in the subject of the ad. If an interest rate is not stated, the Company will determine an estimated cost of capital and utilize that rate to calculate the present value. We face formidable competition from other companies that seek to connect young Hispanics online. Unrestricted Shares During the year ended December 31, 2009, the Company granted no unrestricted common stock. Our success with user acquisition has been solely dependent on word of mouth marketing by the Quepasa user base and our ability to deliver large volumes of email invitations to the contacts of our users. Additionally, the cash burn rate provides meaningful information about Quepasas ability to meet its working capital needs.
The Company re-launched its Quepasa. Revenue Sources While most of our services are free to our users, we intend to generate revenue by providing marketing services and advertising opportunities to businesses and by establishing paying relationships with our users for premium services and products. Since inception, the Company has reported net losses and operating activities have used cash, and the Company has a stockholders deficit at December 31, 2009. We plan to continue to implement these initiatives and to manage costs to better and more efficiently manage our business. The Company continually monitors its positions with, and the credit quality of, the financial institutions it invests with. This could permit our Board to issue preferred stock to investors who support our management and give effective control of our business to our management.