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Prospector
Profile
07.1402
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| Planetlink Communications, Inc. |
NAICS |
334220 |
| 1415 Bookhout Drive
Cumming, GA 30041 |
Description |
GPS Equipment Mfg. |
| (678) 455-7075 |
Employees |
1 |
| http://www.planettraks.com/ |
Revenue |
(mil) |
0.2800 |
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Income |
(mil) |
-2.4360 |
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Assets |
(mil) |
0.2310 |
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Liability |
(mil) |
0.5390 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Chisholm Bierwolf & Nilson LLC raised doubts on the ability of Planetlink Communications, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company incurred a net loss of $2,436,483 and $3,183,751 for the years ended December 31, 2006 and 2005, respectively. As of December 31, 2006, the Company had a working capital deficit of $488,690 as compared to a working capital deficit of $651,208 as of December 31, 2005.
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Intellectual Property:
The Company's TransTRAK system is built around a simple, cost-effective hardware device that is placed in a vehicle. The system is coupled with its proprietary software tracking system and wireless and mapping components. [SEC Filing 10-KSB 05-17-07]
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Description:
The Company engages in the development of satellite-enabled products based on global positioning systems technology for vehicle tracking and fleet management.
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Officers:
M. Dewey Bain (Pres., CEO, Interim CFO, Treas. & Dir.); James T. Crane (Dir.); Amy M. Trombly (Dir.)
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Auditor:
Chisholm Bierwolf & Nilson LLC
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Securities:
Common Stock-Symbol PLKC.OB; OTC BB;
1,093,683,760 common shares outstanding as of August 1, 2007.
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