October 8, 2007
Prospector
Profile
07.1406
 
Sequiam Corporation NAICS 334119
300 Sunport Lane Orlando, FL 32809 Description Biometric Systems Mfg.
(407) 541-0773 Employees 13
http://www.sequiam.com/ Revenue (mil) 1.6880
  Income (mil) -5.2000
  Assets (mil) 3.7180
  Liability (mil) 8.2100
  (for the year ended 2006-12-31)
 
Category: Audit Concerns
 
Event: Tedder James Worden & Associates PA expressed doubts on the ability of Sequiam Corp. to continue as a going concer after auditing its financial statements. The auditor notes that the Company has incurred net losses and negative cash flows from operations since inception. The Company lacks sufficient financing to implement its business plan, and expects continued operating losses for the foreseeable future.
 
Intellectual Property: The Company has submitted its patent for BioVault™ with the United States Patent Office. The Company has registered Sequiam, Smart Biometrics and BioVault as trademarks with the U.S. Patent and Trademark Office. [SEC Filing 10-KSB 04-16-07]
 
Description: The Company, through its subsidiaries, offers biological identification security systems and Web-based application services.
 
Officers: Nicholas H. VandenBrekel (Chair, Pres. & CEO); Mark L. Mroczkowski (SVP, CFO & Dir.); James C. Stanley (Dir.); Alan McGinn (VP & CTO)
 
Auditor: Tedder James Worden & Associates PA
 
Securities: Common Stock-Symbol SQUM.OB; OTC BB; 89,360,071 common shares outstanding as of August 17, 2007.
 
 
 
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