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Type of Business: The development of a new wireless telecommunications device.

Company Summary: Alpha Com Inc. intends to lead the emerging world of telecommunications devices. Telecommunications is a multi-billion dollar industry, shared by large corporate providers (AT&T, Nortel, Lucent, etc.) and more recently the ISPs (AOL, Mindspring, etc.). With the advent of the computer, communications has taken a considerable leap into the 21st century. While the type of information has progressed through various mediums; text, voice, graphics, we do not foresee that any significant developments will supplant the current mediums offered. We do see however, the growth potential of the delivery of these various mediums. Personal Digital Assistants (PDAs) and mini-computers are enabling the average consumer the ability to access information anywhere. Alpha Com Inc. has developed the first wireless device that delivers information on your wrist. The "widget" is akin to the Dick Tracy watch where one can communicate via two-way network, based on current cellular technology. Additionally, you will be able to access the Internet, voice mail, calendar. We foresee additional features being added as global technology develops innovative products.

Product/Service Description: The "widget" is a personal telecommunication device, which is worn on the individual as a watch. It is based on current cellular technology and will offer all of the same features available on similar PDAs and developing technology products. It has a compressed one (1) inch x two (2) inch LCD color screen in which text and graphics are displayed. It also contains a speakerphone for voice communications and an attachment (earpiece/microphone) for private conversation. You can also detach the wristband and use the optional clip to attach it to your clothing, making a personal accessory item that is fashionable as well as functional. It will operate on the GSM bandwidth, with direct-connect features operating under a license agreement from Nextel Communications.

Industry/Market Description: The current telecommunications market is a multi-billion dollar industry. The benefactors have been the back-end suppliers (AT&T, Nortel, Lucent) of the information network, which the modern world depends on so critically for its everyday use. More recently, front-end companies have enjoyed success, as they have become the distributors of the information network, which back-end supplier's control. Mini-computers are the first iteration of the development to deliver content in a smaller package (product). A smaller version of the laptop, which in itself is smaller version of the desktop PC; it is a portable PC with limited application processing. The development of portable modems has allowed mini-computers to access the information highway, but at an inconvenient cost. Users must connect via existing dial-up connections (analog phone lines), which limits their usage potential. Wireless modems are available must eh current cost is prohibitive and still relies on existing land-based networks. Personal Digital Assistants (PDAs) are the latest phenomenon in the evolution of delivering content in a smaller package (product). Originally developed to replace the paper-based organizers, it has emerged as the new medium of information exchange as its capability to send and receive emails, Internet news, electronic organizer, develops. The cellular market has grown from its infancy to a full service industry. Worldwide, the cellular market has gained significant footholds on strategically position areas; Asia, Europe, Latin America. The untapped potential of these burgeoning markets presents an unprecedented opportunity.

Competition/Competitive Analysis: The competition exists of current Personal Digital Assistants, mini-computers, and wireless phones. Palm Computing, has successfully created an entire market of wireless devices with the invention of its Palm series computing. Currently there are several additional manufacturers; Casio, Apple, Philips, who are competing with Palm Computing for this market. While virtually accepted, the limitations are apparent as there is no universal operating platform, no barrier to entry as several new companies are developing "lower market" products, undercutting Palm Computing's existing products, as well as its inability to distribute internet functionality in an attractive package (product). Mini-computers allow users to access the full functionality of the Internet, however the package (product) is cumbersome (in modern standards) and has not enjoyed the wide acceptance PDAs have garnered because of its size. Wireless phones, are universally accepted, but have not crossed the technological threshold to deliver information in other than voice or text format. The "widget" will incorporate all of the best features of the above-mentioned products and deliver it in a package (product) that is aesthetically pleasing to the average consumer. We are looking to leapfrog the current evolutionary track and deliver future 21st century technology today.

Management: Ivan I. Dea, President, has been in the global telecommunications industry for the last 5 years, developing software and hardware products for the consumer market. He was responsible for the development of two products in the market, which has garnered $25 million in gross revenues this year. C.F. Oh, Vice-President, has been in the financial industry for the past 5 years in a global investment bank. He has been responsible for developing new consumer markets resulting in $15 million in new business for client companies.

Funds Requested: $1,000,000 in Series A Preferred Stock

Use Proceeds: We expect the net proceeds of the sale of Series A Preferred Stock to develop the following; $150,000 for accounts payable, $450,000 for research and development of the "widget", the remaining $400,000 for general operating costs; including salary, marketing, and administrative costs.

Exit Strategy: Since Alpha Com Inc. will be creating the most revolutionary product to market to date; we envision that there is multitude of attractive alternatives.

1. Initial Public Offering, in which the company will place its common stock for sale and use its proceeds to develop a global strategy for distribution.
2. Merger or Acquisition, by an existing telecommunications company in which our technology is either licensed or bought.