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Prospector
Profile
07.1143
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| Galtech Semiconductor Materials Corporation |
NAICS |
541710 |
| 25308 SE 35th Street
Issaquah, WA 98029 |
Description |
Chemicals Research |
| (425) 417-6968 |
Employees |
0 |
| http://www.galtech-corp.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.1350 |
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Assets |
(mil) |
0.0210 |
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Liability |
(mil) |
0.2000 |
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(for the year ended 2004-12-31) |
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Category:
Audit Concerns
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Event:
HJ & Associates, LLC raised doubts on the ability of Galtech Semiconductor Materials Corporation to continue as a going concern after auditing its financial statements. The auditor points out that he Company has generated significant losses from operations, has an accumulated deficit of $5,820,274 and has a working capital deficit of $18,584 at December 31, 2004.
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Intellectual Property:
In April, 1997, its wholly-owned subsidiary, Energy Research Corporation was assigned a U.S. patent (Patent No. 5,625,241) on a carousel electric generator that was invented by Russell R. Chapman, David R. Porter, and Harold E. Ewing. Galtech has no trademarks, licenses, franchises, concessions, royalty agreements or labor contracts. Because semiconductor material crystal growth patents are difficult to protect, the production processes are closely guarded. [SEC Filing 10-KSB 07-13-07]
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Description:
The Company's principal operations focus on the development and commercial exploitation of a new and more economical method of growing cadmium telluride and related compounds with zinc and mercury semiconductor compounds.
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Officers:
Garrett Quintana (Pres. & Dir.); Edward Bloom (Sec., Treas. & Dir.); Russ Chapman (EVP); William Tunnell (Dir.)
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Auditor:
HJ & Associates LLC
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Securities:
Common Stock-Symbol GTSM.PK; Other OTC;
71,948,419 common shares outstanding as of February 16, 2007.
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