DAG Media, Inc., a New York corporation, referred to herein as “we”, “us” and “our, was founded by Assaf Ran in 1989. Through our subsidiaries we provide solutions to the online yellow pages industry and to local search, lead generation mechanism as well as e-commerce web site. Until April 20, 2006, our principal source of revenue came from the sale of advertisements in printed business directories.

Until April 20, 2006, our principal directories were: the Jewish Israeli Yellow Pages , a bilingual, English and Hebrew, yellow page directory distributed free through local commercial and retail establishments in the New York...