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Prospector
Profile
927-06
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| 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 |
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Income |
(mil) |
-0.9690 |
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Assets |
(mil) |
0.5410 |
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Liability |
(mil) |
2.4810 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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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.
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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]
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Description:
The Company develops, manufactures and sells undersea wireless sonar communications systems and produces defense and aerospace electronic systems.
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Officers:
Wilson Russell (Pres. & CFO); David Buttle (Dir.)
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Auditor:
Pannell Kerr Forster
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Securities:
Common Stock-Symbol NEIK.OB; OTC BB;
26,378,540 common shares outstanding as of July 31, 2007.
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