PowerHouse Technologies Group Inc.

• Public
• US

Dow Jones Description

The Company is in the business of developing, acquiring and marketing software and infrastructure technologies designed to improve the way mobile information is personalized, secured, carried and accessed. The Company was founded in May 2002 as PowerHouse Studios, Inc. ("PowerHouse Studios"). On May 19, 2003, PowerHouse Studios completed a business combination with Agate Technologies, Inc., a publicly traded company ("Agate"). Following that transaction, the Company changed its name to "PowerHouse Technologies Group, Inc." and effected a 1:122 reverse stock split.(1) On June 18, 2004, the Company acquired 51% of First Person Software, Inc. ("First Person") that it did not previously own; the transaction was effected through a merger of First Person with and into PowerHouse Acquisition, LLC ("PowerHouse Acquisition"), a wholly-owned subsidiary of the Company, with PowerHouse Acquisition remaining as the surviving entity. (See Item 6, Management's Discussion and Analysis or Plan of Operation under the caption "Significant Events During Fiscal Year 2005").

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