Prospector
Profile
07.1177
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| Mass Megawatts Wind Power, Inc. |
NAICS |
333611 |
| 95 Prescott Street
Worcester, MA 01605 |
Description |
Wind Turbines Mfg. |
| (508) 751-5432 |
Employees |
0 |
| http://www.massmegawatts.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.3270 |
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Assets |
(mil) |
0.0370 |
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Liability |
(mil) |
0.1670 |
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(for the year ended 2007-04-30) |
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Category:
Audit Concerns
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Event:
Malone & Bailey PC notes that operating losses have been incurred by Mass Megawatts Wind Power, Inc. each year since inception, resulting in an accumulated deficit of $3,611,711 at April 30, 2007. In addition, at April 30, 2007, Mass Megawatts had negative working capital of approximately $149,070. These conditions raises substantial doubt about Mass Megawatts' ability to continue as a going concern.
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Intellectual Property:
Pursuant to a Licensing Agreement effective as of June 21, 2000, Mass Megawatts has been granted an exclusive sublicense to market the MultiAxis Turbosystem (MAT) and associated technology relative to wind velocity augmentation, which is the ability to use external walls or structure to enhance the flow of air velocity for increasing power output. The MAT is comprised of certain products and technology covered by eight patent applications by its Chairman, Jonathan Ricker. [SEC Filing 10-KSB 07-30-07]
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Description:
The Company engages in the production of wind turbines and sale of wind generated electricity in the United States.
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Officers:
Jonathan Ricker (Chair, CEO & CFO); Allison Grey (Dir.); Jodi A. Vizzo (Dir.)
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Auditor:
Malone & Bailey PC
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Securities:
Common Stock-Symbol MMGW.OB; OTC BB;
4,014,861 common shares outstanding as of April 30, 2007.
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