October 1, 2007
Firepond, Inc. NAICS 511210
205 Newbury Street Framingham, MA 01701 Description Software Publishers
(508) 820-4300 Employees 49
http://www.firepond.com/ Revenue (mil) 4.6240
  Income (mil) -23.7200
  Assets (mil) 8.7190
  Liability (mil) 5.8700
  (for the year ended 2007-06-30)
Category: Audit Concerns
Event: Causey Demgen & Moore, Inc. expressed substantial doubt about Firepond, Inc.'s ability to continue as a going due to its significant losses from operations. The Company posted a $23,270,137 net loss on $4,624,763 of total revenues for the year ended June 30, 2007, as compared with a $4,783,181 net loss on $3,761,594 of total revenues in the prior year. At June 30, 2007, the Company had a working capital deficit of $1,700,000.
Intellectual Property: The Company holds over 200 copyrights related to its business. In addition, the Company owns 2 trademark registrations in the United States and has 4 trademark applications pending with the U.S. Patent and Trademark Office. The Company owns 1 trademark registration in the EU and has 2 trademark applications pending with the Office for the Harmonization of Intellectual Property. It also has 1 trademark application pending with the Japan Trademark Office. The Company's software products depend on a non-exclusive worldwide license from Orion IP LLC to utilize certain critical patents and related rights in connection with the conduct of its business. [SEC Filing 10-KSB 09-18-07]
Description: The Company is a leading provider of multi-tenant, on-demand software that automates and simplifies the process companies use to sell complex products and services.
Officers: Douglas Croxall (Chair); William Santo (CEO & Dir.); Stephen Peary (CFO & Sec.); Jerry Keefe (VP); Carol Ferrari (VP); Mark Campion (Dir.); Mark Tunney (Dir.)
Auditor: Causey Demgen & Moore, Inc.
Securities: Common Stock-Symbol FPND.OB; OTC BB; 8,349,239 common shares outstanding as of August 31, 2007.
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