October 1, 2007
Northstar Electronics, Inc. NAICS 334511
Suite # 1455 - 409 Granville Street Vancouver, British Columbia, Canada V6C 1T2 Description Sonar Systems Mfg.
(604) 685-0364 Employees 18
http://www.northstarelectronics.com/ Revenue (mil) 1.4600
  Income (mil) -0.9690
  Assets (mil) 0.5410
  Liability (mil) 2.4810
  (for the year ended 2006-12-31)
Category: Loss/Deficit
Event: Northstar Electronics, Inc. reported a net loss of $201,043 on revenues of $351,140 for the second quarter ended June 30, 2007, lower than the $213,335 net loss on $231,190 in revenues incurred in the second quarter of last year. For the six months ended June 30, 2007, the Company had a $408,497 net loss on $685,867 in revenues, lower than the $339,750 net loss on $685,867 in revenues incurred during the first half of 2006. The Company has an accumulated deficit of $6,532,730 and stockholder's deficit of $2,320,214 in its June 30, 2007 balance sheet. It also has strained liquidity with $247,838 in total current assets and $1,061,753 in total current liabilities.
Intellectual Property: The Company's Northstar Technical, Inc. subsidiary has made continual enhancements to the NETMIND System. These activities have resulted in an optimum design for which a patent application will be submitted. The Company has obtained Canadian trademark rights to the name NETMIND on August 24, 1999. [SEC Filing 10-KSB 04-17-07]
Description: The Company develops, manufactures and sells undersea wireless sonar communications systems and produces defense and aerospace electronic systems.
Officers: Wilson Russell (Pres. & CFO); David Buttle (Dir.)
Auditor: Pannell Kerr Forster
Securities: Common Stock-Symbol NEIK.OB; OTC BB; 26,378,540 common shares outstanding as of July 31, 2007.
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