However, things have changed. In particular, several handheld computers and cellular telphones have come on the market recently that have the computational power, memory, and display capabilities required by navigation systems.

Given our history, Nearby is well-positioned to take advantage of this opportunity.

• Version 1. Will only display maps.
• Version 2. Will display the user's current location on the map.
• Version 3. Will display a pre-determined route along with the user's current location.
• Version 4. Will re-calculate the best route when necessary and display it (along with the user's current location).

We also intend to develop the following products and services:

• On the Way: A WWW site that enables users to download "points of interest" (e.g., hotels, restaurants, gas stations, entertainment opportunities).
• Way Cool Stuff: A WWW site that sells shirts, hats, etc... The marketing group has already designed several examples
• My Way: A personal WWW site for users of Way. Each user can use the WWW site to store address books, preferences, tracking information, etc...
• free Way: A "freeware" version of Way.
• Get a Way: A WWW site that rents Way to people who want, for example, to get away for the weekend (and not get lost along the way).

Our preliminary research indicates that there are several other companies developing such products that we will need to compete with.