"Nicole" is actually a guy named Aaron who "got into the habit" of having phone sex by disguising his voice as a woman and is not able to have other types of personal relationships because he is shy. Davey and Aaron meet at a local restaurant and chat, in person.
The ending made me see how special the screenplay writers (Davy Rothbart and Kyle Patrick Alzarez) and director (Kyle Patrick Alvarez) are. I hope that they keep making more movies like this. By the way, if you watch the DVD "Special Features" there is an interview that explains and expounds on how it is based on a story by Davy Rothbart about his true-life experience. (I was actually expecting it to turn into a typical stalker/slasher flick...)
that was one of the issues I had with this movie (although it was very minor). I didn't fathom the voice he was hearing coming from the guy he meets at the end. It just didn't fit. They could have done other things to have it work; have the girl who did the voice show up looking like a gay man if possible. Or have the guy who shows up at the end actually be the voice on the phone.