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Prospector
Profile
07.1119
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| Innovative Software Technologies, Inc. |
NAICS |
511210 |
| 3998 FAU Boulevard, Building 1-210
Boca Raton, FL 33431 |
Description |
Software Publishers |
| (561) 417-7250 |
Employees |
5 |
| http://www.acxess.com/ |
Revenue |
(mil) |
0.1240 |
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Income |
(mil) |
-2.9230 |
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Assets |
(mil) |
0.7850 |
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Liability |
(mil) |
3.8780 |
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(for the year ended 2007-03-31) |
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Category:
Default
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Event:
Innovative Software Technologies, Inc. incurred a loss of $3,411,252 from inception through March 31, 2007, and has a working capital deficiency and stockholder deficit of $3,369,266 and $3,093,007, respectively, at March 31, 2007. The Company currently has minimal revenue generating operations and expects to incur substantial operating expenses in order to expand its business. As a result, the Company expects to incur operating losses for the foreseeable future. In addition, the Company is in default on its convertible notes and debentures and is incurring liquidated damages in connection with its convertible debentures.
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Intellectual Property:
The Company has filed one patent application entitled "System and Method for Providing Business Continuity Through Secure E-Mail" and intends to submit another patent tentatively entitled "System and Method for Working in a Virtualized Computing Environment Through Secure Access." The Company owns the registered trademark "Down Proof Your Business" but has not filed trademark registrations for any other marks. [SEC Filing 10-KSB 07-13-07]
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Description:
The Company offers business continuity and application availability services for single or multi-application small to medium enterprise-level hosted environments.
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Officers:
Traver Gruen-Kennedy (Chair); Philip D. Ellett (CEO & Dir.); Thomas J. Elowson (COO); Christopher J. Floyd (CFO & Sec.)
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Auditor:
Stark Winter Schenkein & Company LLP
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Securities:
Common Stock-Symbol INIV.PK; Other OTC;
73,174,979 common shares outstanding as of July 12, 2007.
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