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Prospector
Profile
07.1178
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| Medina International Holdings, Inc. |
NAICS |
336612 |
| 10088 6th Street, Suite G
Rancho Cucamonga, CA 91730 |
Description |
Boat Builders |
| (303) 741-5785 |
Employees |
0 |
| http://www.medinaih.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.6490 |
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Assets |
(mil) |
0.4050 |
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Liability |
(mil) |
0.4650 |
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(for the year ended 2007-04-30) |
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Category:
Audit Concerns
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Event:
Jaspers + Hall PC has issued a "going concern" qualification after auditing Medina International Holdings, Inc.'s financial statement. The auditor points out that the Company has no revenue, limited capital, debt in excess of $465,630, no significant cash, minimal other assets, and no capital commitments.
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Intellectual Property:
In manufacturing watercrafts, the Company uses several patented designs, which are licensed from Albert Mardikian. In February 2005, the Company signed a license agreement with Mr. Mardikian to manufacture and sell Vortex boats. In January 2006, the Company also signed a license agreement with Mr. Mardikian to use his water pump patent (United States Patent 6,343,964) in the fire and rescue boats. In June 2006, the Company signed a license agreement with Mr. Mardikian to use his design for the manufacturing of 15' Rescue boats. [SEC Filing 10-KSB 07-27-07]
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Description:
The Company manufactures commercial and recreational watercrafts in the United States.
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Officers:
Daniel Medina (Pres., CEO & Dir.); Madhava Rao Mankal (CFO); Mike Swanson (Dir.); Tony Eishet (Dir.); Arun Madhav (Dir.)
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Auditor:
Jaspers + Hall PC
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Securities:
Common Stock-Symbol MIHI.OB; OTC BB;
31,988,541 common shares outstanding as of July 16, 2007.
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