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Prospector
Profile
07.1289
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| Sweet Success Enterprises, Inc. |
NAICS |
312100 |
| 1250 NE Loop 410, Suite 630
San Antonio, TX 78209 |
Description |
Beverage Mfg. |
| (210) 824-2496 |
Employees |
11 |
| http://swts.client.shareholder.com/index.cfm |
Revenue |
(mil) |
0.1040 |
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Income |
(mil) |
-6.9890 |
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Assets |
(mil) |
2.1410 |
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Liability |
(mil) |
9.6190 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
Sweet Success Enterprises, Inc. reported a net loss of $6,185,602 on revenues of $27,764 for the three months ended June 30, 2007, compared to a net loss of $1,843,581 on revenues of $24,314 during the same quarter last year. For the six months ended June 30, 2007, the Company reported a net loss of $6,953,901, higher than the $2,739,568 net loss reported during the first half of 2006. The Company's balance sheet at June 30, 2007 showed an accumulated deficit of $20,238,113, stockholder's deficit of $11,116,203 and working capital deficit of $11,739,142.
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Intellectual Property:
The Company's intangible assets consist of the brand name and other intellectual property including the “Sweet Success” trademark, product specifications, trade secrets, and formulae and recipes. The Company relies on a combination of common law trademark rights, U.S. federal registration rights and trade secret laws to protect its brand name and product formulations. Nevertheless, the formulations are not patented and may be duplicated by competitors. The Company protects product formulations by confidentiality agreements with employees and contract manufacturers. [SEC Filing 10-KSB 02-14-07]
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Description:
The Company engages in the production, distribution, and marketing of ready-to-drink functional health beverages in the United States.
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Officers:
William J. Gallagher (CEO, CFO & Dir.); Glenn Williamson (Pres. & Dir.); Michael K. Launer (SVP); Graydon Webb (Dir.); Robert Lippincott (Dir.); Theodore M. Heesch (Dir.); James Haworth (Dir.); Alicia Smith Kriese (Dir.); Robert D. Straus (Dir.)
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Auditor:
PMB Helin Donovan LLP
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Securities:
Common Stock-Symbol SWTS.OB; OTC BB;
22,575,174 common shares outstanding as of August 8, 2007.
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