Prospector
Profile
07.1063
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| Mediscience Technology Corporation |
NAICS |
339100 |
| 1235 Folkestone Way
Cherry Hill, NJ 08034 |
Description |
Medical Equipment Mfg. |
| (215) 485-0362 |
Employees |
1 |
| http://www.medisciencetech.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-1.4130 |
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Assets |
(mil) |
0.9180 |
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Liability |
(mil) |
3.5670 |
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(for the year ended 2007-02-28) |
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Category:
Audit Concerns
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Event:
Morison Cogen LLP raised substantial doubt about the ability of Mediscience Technology Corporation to continue as a going concern after auditing its financial statements. The auditor notes that the Company has no revenues, incurred significant losses from operations, has negative working capital and has an accumulated deficit.
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Intellectual Property:
The Company has over 25 patents in the areas of tissue spectroscopy and optical imaging with applications in cancer detection. On April 14, 2003, the Company secured the exclusive world-wide license for the US patent "Stokes-Shift Fluorescence Spectroscopy for Detection of Disease and Physiological State of Specimen". October 18, 2005, the Company secured the exclusive world-wide license rights for US patent disclosure US 60/725,670 "Phosphorescence and Fluorescence Spectroscopy for Detection of Cancer and Pre-Cancer from Normal/Benign regions" from Research Foundation City University of New York. The Company either owns or holds exclusive licenses to 28 U.S. patents, plus 1 in Japan, for a total of 29 patents. [SEC Filing 10-KSB 06-13-07]
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Description:
The Company engages in the design and development of medical diagnostic instruments.
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Officers:
Frank D. Benick (CFO); Peter Katevatis (Chair, CEO & Treas.); John M. Kennedy (VP, Sec. & Dir.); William Armstrong (Dir.); Michael N. Kouvatas (Dir.)
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Auditor:
Morison Cogen LLP
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Securities:
Common Stock-Symbol MDSC.OB; OTC BB;
65,459,274 common shares outstanding as of May 31, 2007.
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