October 1, 2007
Mirenco, Inc. NAICS 336312
206 May Street Radcliffe, IA 50230 Description Engine Parts Mfg.
(515) 899-2164 Employees 17
http://www.mirenco.com/ Revenue (mil) 0.5910
  Income (mil) -0.6190
  Assets (mil) 0.6900
  Liability (mil) 0.6320
  (for the year ended 2006-12-31)
Category: Loss/Deficit
Event: Mirenco, Inc. had a $116,186 net loss on $179,106 of revenues for the three months ended June 30, 2007, lower than the $166,501 net loss on $192,995 of revenues reported during the same quarter last year. As a result of its recurring losses, the Company's balance sheet showed an accumulated deficit of $11,774,155 and only $7,080 in stockholder's equity at June 30, 2007. It also has strained liquidity with $210,517 in total current assets available to pay $547,867 in total current liabilities.
Intellectual Property: The Company's primary products are derived from technology patented in the United States, Mexico and Canada. The Company owns seven U.S. patents, including five purchased from American Technologies. In addition to the patents, the Company has obtained the registered trademarks HydroFire®Fluid, EconoCruise®, HydroFire®Injection, SmartFoot™, HydroFire®Lubricant, Satellite-to-Throttle™ and DriverMax®. [SEC Filing 10-KSB 04-25-07]
Description: The Company engages in the development, marketing, and distribution of products for throttle control of internal combustion vehicles primarily in the United States.
Officers: Dwayne Fosseen (Chair & CEO); Richard A. Musal (COO & CFO); Tim Neugent (Dir.); Merlin Hanson (Dir.); Don D. Williams (Dir.)
Auditor: Stark Winter Schenkein & Co. LLP
Securities: Common Stock-Symbol MREO.PK; Other OTC; 26,107,858 common shares outstanding as of August 20, 2007.
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