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Prospector
Profile
07.1265
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| Trulite, Inc. |
NAICS |
325120 |
| 5 Houston Center, 1401 Mckinney Street
Houston, TX 77010 |
Description |
Hydrogen Cell Mfg. |
| (713) 888-0660 |
Employees |
14 |
| http://www.trulitetech.com/ |
Revenue |
(mil) |
0.0080 |
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Income |
(mil) |
-3.4430 |
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Assets |
(mil) |
0.3590 |
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Liability |
(mil) |
1.5510 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
Trulite, Inc. reported a net loss of $1,296,559 for the three months ended June 30, 2007, compared to a net loss of $1,519,729 during the same quarter last year. For the six months ended June 30, 2007, the Company reported a net loss of $2,235,466, which is higher than the net loss of $1,898,963 reported during the first half of 2006. As of June 30, 2007, the Company's balance sheet reflected $13,071,606 in accumulated deficit and $3,149,695 in stockholder's deficit. It also has strained liquidity with $500,345 in total current assets and $3,736,187 in total current liabilities, resulting in a working capital deficit of $3,235,842.
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Intellectual Property:
The Company has filed two patent applications to protect the Hydrocell, a proprietary hydrogen storage product that is an environmental-friendly alternative to battery power developed from the Company’s prototype chemical hydride cartridges. [SEC Filing 10-KSB 04-02-07]
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Description:
The Company engages in the development of hydrogen fuel cell systems in the United States.
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Officers:
John Berger (Chair); Jonathan Godshall (Pres., CEO & Dir.); (G. Wade Stubblefield (CFO); Richard Hoesterey (Dir.); Gen. Randolph House (Dir.); Eric Melvin (Dir.); John Sifonis (Dir.); John White (Dir.)
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Auditor:
UHY Mann Frankfort Stein & Lipp
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Securities:
Common Stock-Symbol TRUL.OB; OTC BB;
11,885,591 common shares outstanding as of August 10, 2007.
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