Socialwise, Inc. announced yesterday evening that they have signed Rob Dyrdeck to promote its online BillMyParents® payment solution and teen MasterCard® prepaid debit card. Mr. Dyrdeck is a professional skateboarder who has recently become a TV star through his incredibly popular MTV reality show, Fantasy Factor. Between his MySpace, Facebook and Twitter accounts, Mr. Dydeck, who was referred to by Jim Collas, President and CEO of BillMyParents as the “logical choice”, has millions of followers and was also a top five finisher in the Teen Choice Awards a few months ago. Socialwise plans to use Mr. Dydeck as part of a major marketing initiative that will commence in late spring and will include well-known athletes and retailers.
BillMyParents is a unique concept of Socialwise that provides payment systems for teens and parents. With the Supervised Shopping™ program, teens shop online and pick out specific items they want to buy using the convenient BillMyParents payment button on partner retail sites. Parents have the ability to set up all shopping and payment configurations to be alerted via email or text about a pending purchase and then either approve or deny the transaction before it is processed. One of the unique features of this system is that parents can set it up to be very relaxed where purchases are simply monitored or much stricter where all transactions must be approved by the parents.
BillMyParents has also recently released a pre-loaded MasterCard that can be used anywhere that MasterCard is accepted, both online and off. With guidance always being a high priority, the MasterCard comes equipped with simple-to-use monitoring devices for the parents. Custom cards, such as one with Rob Dyrdeck’s picture on it, are coming in the near future for the BillMyParent’s MasterCard.
Rob Dyrdeck was quoted in the press release as stating: “I’m excited to work with BillMyParents. I like what they do,” said Mr. Dyrdek. “Giving teens freedom to pick what they want and also letting parents in on that, I think it gives parents insight into what their kids really want and gives teens the opportunity to learn financial responsibility. It just makes sense.”
This press release, which came out after 7PM EST yesterday, followed an earlier press release that announced Grass Roots Research and Distribution – Cohen Independent Research (“Cohen Report”) issued an in-depth research report on the Company, which provides a 12-month Price Target of $1.52 per share.
SCLW, which has 48.49 million shares outstanding and 30.15 shares in the float, closed yesterday at .749 (up 18.89%). Volume was significantly higher than average with 576,900 shares being traded.