http://www.adcopy.com/
AdCopy's mission is to solve for the lack of attentiveness in brand advertising. Rather than advertising alongside content and forcing brand messages to compete for the consumers’ attention, AdCopy leverages existing, pre-approved creative assets, like logos, icons, slogans and short brand messages to engage the consumer before they access the desired content. Our performance based solution allows publishers to sell ads on a cost per engagement basis and helps advertising partners avoid wasted impressions. Campaigns are easily set up in our self-serve environment and ads are integrated into the publishing environment via our API.

I just seen this on a proboards forum while registering.. Its a captcha but its also advertisement. I had to type in what the ad said.
What do you think of this? Is this an effective form of gaining revenue or a way to annoy the people who register at your forum?