gcn reiterating p1 value, page-67

GCN'P1 will have a lot that Groupon does not

IPTV where they can see the products on a big screen, buy the products using the TV, as well as computer and iphone

but to have a shopping channel that advertisers can display their products is a big plus compared to Groupon and others.
and then there is China

now to the numbers,
no P1 don't have 400 mill customers,
what they have is 100k plus merchants who in turn have that many customers.

so P1 have signed up merchants and they can offer the merchants advertising on T.V. sales through T.V. computer and phone
they can advertise directly to clients on a sex, age and likes basis.

now we don't as yet know who the merchants are which is a blow, but they don't want to reveal anything more till they have everything in place and ready to deal.

I think the model is the next step and wouldn't be surprised if they are being looked at by bigger fish, retail is very competitive so they obviously have a plan that has been hatched for a fair while.

now if all this is not true I think they and GCN will have some pretty harsh explaining to do, I doubt they would risk that.

The P1 chairman by the way was for 13 years vice president on Bank of New York Mellon