Virtual Doorman has significantly evolved since we established the prototype more than ten years ago. In 2000, we launched an entirely new industry by introducing the first doorman system to provide traditional doorman services remotely. Since then, we've enjoyed tremendous success with our product. We now serve more than 100 small to mid-sized high-end multifamily properties throughout the Greater New York metropolitan region with an additional 15 buildings to be activated by the end of the summer and a national rollout currently underway through our dealer network. Now, with the launch of our new Generation Three software, we continue to improve and expand the level of service we provide with Virtual Doorman. The centerpiece of Virtual Doorman's unique technology - the interactive Web Portal - is a web-based information management system that streamlines communication between residents, building managers and the operators at our command center. This enables residents to communicate far more efficiently and rapidly with their Virtual Doorman. Prior to the introduction of the Web Portal, residents were limited to communicating by telephone and email. But the portal offers residents a superior means of alerting the Virtual Doorman about guests who will be arriving, packages and deliveries that are expected, and a host of other activities requiring the attention of the Virtual Doorman. Plus, the new software allows residents and managers to "self-manage" their preferences online from anywhere in the world. The Web Portal automates the information management process and enables us to more efficiently manage a greater number of buildings and larger properties then ever before - all with the same exceptional level of service that our customers have come to expect from us. One of our newest Virtual Doorman installations is at The Argyle in Brooklyn, Park Slope's newest upscale condominium, a 12-story luxury development featuring 60 residences. The developer wanted a technologically cutting-edge monitoring/security system, commensurate with the property's modern, upscale look and feel. We are thrilled that Virtual Doorman was selected. Residents at the Argyle will be among the first to experience the new Web Portal, a feature which sets us apart from our competition, since no other provider has developed such advanced software to date. Among the highlights of the new Web Portal are: 1) Simplified communication regarding building maintenance. Requests submitted online via the Web Portal alert everyone—the super, the management company, the Virtual Doorman, etc.—simultaneously so that the request is instantly documented and can be handled quickly and efficiently; 2) Enhanced event logging capabilities. All visitors are automatically logged into the system where records of their visits can be viewed at any time, establishing a running report. This data provides the ultimate record for enhancing tenants' security and protecting their privacy. 3) Improved communication between residents and building management. The Web Portal serves as a building bulletin board where building managers can post important notices, sign-ups and other messages (i.e. notices about upcoming water outages, elevator service, building events, sign-up sheets for services such as exterminators, etc.); 4) Real-time guest and delivery management. Rather than calling or sending an email to inform the Virtual Doorman that a guest will be arriving and then having to wait for email confirmation, the new system updates the command center instantly with the information added by the resident who can be assured that their changes have been implemented successfully. The software behind Generation Three has been three years in the making and we expect it to raise the bar for electronic doormen to a whole new level. In a word, the new software is a faster, more accurate, more efficient, and a better documented means of communication between the residents and our Virtual Doormen. The system's use of available technology greatly reduces chances of human error making it far more reliable and easy to use. We are confident that Generation Three, Virtual Doorman's new web portal, will become a serious alternative for both rental and condo/coop buildings ranging from 4-60 units, as well as a supplemental option for buildings with 40-125 units. Colin Foster is vice president of sales and marketing for Virtual Doorman, New York, N.Y.