Prospector
Profile
1018-02
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| Axial Vector Engine Corp. |
NAICS |
336312 |
| One World Trade Center, 121 SW Salmon Street
Portland, OR 97204 |
Description |
Engines Mfg. |
| (503) 471-1348 |
Employees |
4 |
| http://www.axialvectorengine.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-14.3600 |
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Assets |
(mil) |
0.3550 |
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Liability |
(mil) |
12.9650 |
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(for the year ended 2006-06-30) |
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Category:
Default
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Event:
Axial Vector Engine Corp. has a $995,000 Note payable to Transporter, Inc. for the purchase of exclusive rights to certain video-conferencing technology. Original amount of Note was $1,000,000. The Company is currently in litigation with Transporter, Inc. regarding the technology for which the note was issued. The Company has defaulted on this note and this note is due in full.
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Intellectual Property:
The Company has trademark applications pending with the United States Patent and Trademark Office and the Canadian Intellectual Property Office for protection of the mark “AV” and “AVE.” It has filed patents on the technologies underlying its Axial Vector digital engine. Additionally, certain design patents have been registered in jurisdictions outside of the United States and the ongoing work of patent attorneys involves protection of proprietary inventions. It has ten patents that have either been filed or are in the process of being filed. It holds two issued patents and has various patent applications pending which cover one or more aspects of the current version of the axial vector engine or predecessor models. [SEC Filing 10-KSB 10-16-06]
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Description:
The Company develops multi-fuel engines and generators in the United States.
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Officers:
Dr. Raymond Brouzes (CEO, CFO & Dir.); Samuel J. Higgins (Sec., Treas. & Dir.); Benjamin Langford (Dir.)
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Auditor:
Bagell Josephs Levine & Company LLC
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Securities:
Common Stock-Symbol AXVC.OB; OTC BB;
36,303,096 common shares outstanding as of January 23, 2007.
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