AJO.net Holdings, Inc. (AJO) was incorporated on August 7, 1957 under the name Acoje Oil Exploration and Drilling Co., Inc. for the purpose of engaging in oil exploration and drilling services. The protracted slump in oil exploration activities due to poor drilling results, however, led the company to shift its business to providing water-drilling services. In 1996, the company ventured into the property market and subsequently revised its primary purpose from oil exploration to that of a holding company. It also changed its company name to Acoje Holdings, Inc. In 2000, the management of Acoje focused its investments in the fast-paced business of enabling technologies and service industries, particularly communications technology and mobile information services. Accordingly, the company changed its name to AJO.net Holdings, Inc. AJO is an investment holding company with investments consisting of two types, namely, marketable securities and non-listed investments. Marketable securities consist of listed stocks that are not held for trading purposes but for their potential in the medium and long-term. Meanwhile, the company's non-listed investments include two subsidiary companies, Qnet and Broadasia, both of which have ceased operations on account of unprofitable operating results and continuing poor business prospects. As of December 31, 2008, AJO's investments consisted of the Metropolitan Club, Inc., a non-profit sports membership club; BiTMICRO Networks, Inc., a developer of ruggedized, heat-resistant high performance solid state disk and flash disk storage; and Chikka.com, Ltd., a wireless application network firm. Source: SEC Form 17-A (2008)