and time stamped video or still and to submit it quickly and easily to a local municipality, county or favorite news outlet. Utilizing their proprietary algorithm they provide news outlets with enriched demographic information as well as location, angles and time the video or still was taken. In addition, they plan to elicit participation by local merchants who will offer coupons to reward citizens for their input. The benefits include:

• A more efficient process for the news outlets to categorize the news worthiness of the story.

• A less expensive news gathering process for news outlets

• Social participation and community involvement encouraged by city authorities and local merchants.

• An incentive for citizens to participate in the process.

• A much easier and intuitive method of reporting the event.

There are currently a number of smal apps providing tools for the reporting of events and news. With the event reporting to municipalities the total number of users worldwide is estimated to be about 500K. However, the number of events being reported is pitifully low. Most of these apps are poorly designed, lack functionality and a friendly interface.

Qomuty’s management team is comprised of individuals with extensive experience in start-up development, SW design, algorithmic development and graphic design.

They are seeking $2.25 million to roll out the product in North America, Europe and Israel. They anticipate generating a little over $17 million in net revenue by year end 3. They anticipate a sale price for the company of $66 million.