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Prospector
Profile
1019-07
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| Medcom USA, Inc. |
NAICS |
518210 |
| 7975 North Hayden Road
Scottsdale, AZ 85258 |
Description |
Data Processing Services |
| (480) 675-8865 |
Employees |
0 |
| http://www.medcomusa.com/pages/aboutUs.asp |
Revenue |
(mil) |
4.0040 |
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Income |
(mil) |
-2.5530 |
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Assets |
(mil) |
2.1250 |
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Liability |
(mil) |
8.2500 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Jewett Schwartz Wolfe & Associates expressed doubts on the ability of Medcom USA, Inc. to continue as a going concern after auditing its financial statements. During the year ended June 30, 2007 and 2006, the Company incurred net loss of $2,553,611 and $7,097,698, respectively. Further, the Company has inadequate working capital to maintain or develop its operations, and is dependent upon funds from private investors and the support of certain stockholders.
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Intellectual Property:
The Company's Card Activation Technologies Inc. subsidiary owns proprietary patented payment transaction technology used for electronic activation of phone, gift and affinity cards. The patent was transferred to Card by MedCom on the formation of Card and in exchange for 146,770,504 shares of Common Stock. [SEC Filing 10-KSB 09-28-07]
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Description:
The Company provides healthcare and financial transaction solutions for electronic processing transactions within the healthcare industry in the United States.
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Officers:
William P. Williams (Chair, Pres., CEO & CFO)
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Auditor:
Jewett Schwartz Wolfe & Associates
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Securities:
Common Stock-Symbol EMED.OB; OTC BB;
90,371,004 common shares outstanding as of March 15, 2007.
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