ITEM 8.01. OTHER EVENTS

On December 29, 2008, the Registrant entered into a three-year contract with a Fortune 50 company in the financial services field to provide various services, including satellite broadcast services, digital signage, and music services to the client's more than 6,000 retail and administrative locations throughout North America. The client's satellite network is used to transmit corporate training as well as point-of-sale promotional media. Although the services are scheduled to begin in first quarter 2009, the services will not extend to all of the client's locations immediately, but will be phased in over the term of the contract as requested by the client.

Video content transmitted over the client's satellite network will be powered by CodecSys, the Registrant's proprietary encoding system that compresses digital video to less than 50% of the bandwidth currently be utilized by the client, with comparable or higher quality.

The Contract with one of the Registrants three largest clients will expire December 31, 2008 and that the Registrant and the client have not been able to agree on terms for an extension of the contract and anticipate that the contract will not be renewed.