iPeople, Inc. (IPO), formerly known as Petrofields Exploration and Development Co., Inc., was organized and incorporated on July 27, 1989 by Benguet Corporation to engage in petroleum and mineral exploration, development, and production. Petrofields operated as such until 1997 when it changed its name to the present one, and its primary purpose to that of a development and investment management company, while retaining oil exploration as one of its secondary purposes. With the change in its primary purpose, IPO's main interests are centered on education and information technology led by Malayan Colleges, Inc. (MCI), formerly Mapua Institute of Technology; Mapua Information Technology Center; Malayan Colleges Laguna, Inc., Malayan High School of Science, Inc., formerly Pandacan Properties, Inc.; San Lorenzo Ruiz Institute of Health Sciences, Inc.; Mapua Techserve, Inc.; Pan Pacific Computer Center, Inc.; and People eServe Corporation. MCI is in the field of education, while People eServe is engaged in hardware maintenance services, reselling of IT equipments, and bookstore and technology center operations. Source: SEC Form 17-A (2008)