Worlds Inc (WDDD)

Worlds, Inc. was formed as a result of the contemporaneous mergers on December 3, 1997 of Worlds Inc., a Delaware corporation formed on April 26, 1994 with and into Worlds Acquisition Corp., a Delaware corporation formed on April 8, 1997 and of Worlds Acquisition Corp. with and into Academic Computer Systems, Inc., a New Jersey corporation formed on May 20, 1968. Academic Computer Systems changed its name to Worlds Inc. after the Mergers. In December 1999, the Company changed its name from Worlds Inc. to Worlds.com Inc. It is a 3D entertainment portal which leveraged its proprietary technology to offer visitors a network of virtual, multi-user environments which is called 'worlds'. These worlds are visually engaging online environments featuring animation, motion and content where people could come together and, by navigating through the website, shop, interact with others, attend events and be entertained. In support of this portal and its overall business strategy, it designs and develops software, content and related technology for the creation of interactive, three-dimensional ('3D') Internet web sites. Using its technology, it creates its own Internet sites, as well as sites available through third-party online service providers. Sites using its technology allow numerous simultaneous visitors to enter, navigate and share interactive 'worlds'. Its 3D Internet sites are designed to promote frequent, repeat and prolonged visitation by users by providing them with unique online communities featuring dynamic graphics, useful and entertaining information content and interactive capabilities. It uses its proprietary technology to produce three-dimensional portals and web sites for Worlds.com and third parties. Its core technology includes: worldsShaper; worldsServer; worldsBrowser; worldsPlayer and Worlds Gamma Libraries. It operates a proprietary online 3D Internet chat site known as Worlds Ultimate 3D Chat, an interactive site employing its 3D technology. The markets in which it currently operates and those it intends to enter are characterized by intense competition and an increasing number of new market entrants which have developed or are developing competitive products. It would face competition from numerous sources, including prospective customers which might develop and market their own competitive products and services, software companies and online and Internet service providers. It is subject to regulations applicable to businesses generally and laws or regulations directly applicable to communications over the Internet and access to e-commerce.