GENERAL

We are a global developer and distributor of Java and BREW-based video games and other software applications, such as ringtones and wallpaper, for use on mobile phone handsets. We distribute our games in several markets, including China, Europe and our primary market, Japan. In fiscal year 2004, 93.9% of our revenues were derived from Japan. We deliver our wireless and mobile content across a variety of mobile phone platforms, including advanced second generation handsets, or 2.5G phones and third generation handsets, or 3G phones.

Our primary business is to develop and distribute original game content with a focus on creating games based on...