WOW HOLDINGS INC

WOW HOLDINGS INC

Previous company name
PAYLESS TELECOM SOLUTIONS, INC.
Name change date
4/14/2008
Company Overview
The company, formerly known as Payless Telecom Solutions Inc., is a conglomerate of various telecommunications, technology, merchants processing and other companies. It was founded in 2005. The registered business office of the company is located in Leander, Texas.
The company assumes management and control functions to its subsidiaries. It also provides other administrative management activities, as well as consulting and investment services. In addition, the company covers other related financial and credit intermediation services.
This holding company is active and operational, together with its subsidiaries, in the United States and Spain.
WorldOne LLC, one of the company’s listed subsidiaries, is an industrial company based in Spain.
Business Summary
WOW Holdings, Inc., formerly Payless Telecom Solutions Inc., specializes in the development and manufacture of transparent glycerin and specialty soap products, as well as the production of certain personal care and home fragrance products. It also manufactures a small amount of traditional bar soap. It maintains a library of chemical formulations for producing purer, milder and harder glycerin soap bars primarily through the use of synthetic moisturizing ingredients rather than the use of tallow. It also manufactures a line of high-end scented candles that complements its line of home fragrance products. On April 5, 2001, it entered into an Agreement for the Purchase and Sale of Assets with Jean Charles Incorporated. The Agreement provides for the sale by the Company to Jean Charles of all of its tangible personal property, inventories, intangibles, books and records and prepaid accounts. In February 2007, the Company acquired a 51% interest in GRID Merchant Processing Inc.
Description and history
WOW Holdings, Inc., formerly Payless Telecom Solutions Inc., specializes in the development and manufacture of high-quality transparent glycerin and specialty soap products, as well as the production of certain personal care and home fragrance products. The Company built four retail brands and a private label and contract manufacturing business for high-profile customers. The Company uses a proprietary process for manufacturing poured bar soaps that allows the Company to produce unique and affordable original soap products in large quantities with consistent quality. In addition, the Company manufactures a small amount of traditional bar soap. The Company also maintains a library of chemical formulations for producing purer, milder and harder glycerin soap bars primarily through the use of synthetic moisturizing ingredients rather than the use of tallow. The Company manufactures and sells home fragrance products and a full line of potpourri products as part of its crafts market product line. The Company also manufactures a line of high-end scented candles that complements its line of home fragrance products. In February 2007, the Company acquired a 51% interest in GRID Merchant Processing Inc.

On April 5, 2001, the Company entered into an Agreement for the Purchase and Sale of Assets (the Asset Agreement), dated as of April 2, 2001, with Jean Charles Incorporated. The Asset Agreement provides for the sale by Surrey to Jean Charles of all of the Company’s tangible personal property, inventories, intangibles, books and records and prepaid accounts. Surrey is not selling its real property, accounts receivable, bank accounts, tax deposits and certain of its contracts not assumed by Jean Charles pursuant to the Asset Agreement. The sale of assets was approved on September 27, 2001. Upon closing, the Company will transfer and deliver title to the assets to be sold pursuant to the Asset Agreement to Jean Charles Incorporated.

The Company’s principal product line has traditionally been its high-quality glycerin bar soaps, which it markets, both directly and through manufacturers’ representatives, to a large variety of retail establishments, and which it manufactures, on a contract basis, for a variety of private label customers. In addition, the Company manufactures and markets a full line of potpourri products, and began producing a candle line in 1998.

The Company has a wide variety of private label and contract manufacturing clients for whom it makes specialty glycerin soap bars and other products. Many of the retail customers, such as Bath & Body Works, Wal-Mart, K-Mart, Walgreen’s, Tupperware and Sara Lee Direct, buy products designed, created and manufactured exclusively by Surrey’s personnel. Contract manufacturing customers, such as Elizabeth Arden, Avon, Liz Claiborne and Walt Disney Co., work closely with the Company to create a product unique to that customer through the use of specialty designs, fragrances, labeling, colors and shapes. Surrey, through its proprietary processes, has created unique shapes and designs, including its “soap in a soap” tailored specifically for certain customer requests.

The Company markets its products under its own four premium in-house brand names: the Tea Room line (candle line, potpourri and soap), the Simmer Scents line (potpourri bags, potpourri liquids, oils and sachets), the Surrey Men’s line (shaving, mug, brush and soap set) and the Illumatherape line (various shaped and scented candles). The Company has worked to diversify its product mix. In mid-1997, Surrey introduced a full line of potpourri intended to capitalize on the Company’s experience in producing high-quality fragrances. The Company’s potpourri line is being sold both through craft stores (such as Garden Ridge) and discount mass merchandisers (such as Wal-Mart and K-Mart). At the end of 1998, the Company entered the candle market with a line of high-end scented candles that compliments its line of home fragrance products.

In 1998, the Company also began manufacturing a small amount of traditional bar soap. The addition of a traditional line of bar soap allowed the Company to offer a more complete line of soap products, including traditional soap products, liquid soap and glycerin bar soap.

Formerly known as Payless Telecom Solutions Inc

Business Line
A conglomerate of various telecommunications, technology, merchants processing and other companies
Subsidiary

Advisor
GRANT THORNTON INTERNATIONAL
IPO date
12/1997
US SIC Code
2841
Company Address
13110, Trails End Road

City province or state postal code
78641, LEANDER, TX
Phone: +1 512 267 7172
Fax: +1 512 267 4864
Country address: UNITED STATES OF AMERICA
Website url: www.surreysoap.aa.psiweb.com