October 29, 2007
Prospector
Profile
07.1492
 
Solpower Corp. NAICS 325998
307 East 22nd Street San Pedro, CA 90731 Description Fuel Additives
(310) 940-6408 Employees 1
http://www.solpower.com/ Revenue (mil) 0.4100
  Income (mil) -0.2360
  Assets (mil) 0.0830
  Liability (mil) 0.8460
  (for the year ended 2007-03-31)
 
Category: Audit Concerns
 
Event: Meyler & Company LLC expressed doubts on the ability of Solpower Corp. to continue as a going concern after auditing its financial statements. The Company historically has experienced significant losses and negative cash flows from operations. As of March 31, 2007, the Company has a deficiency in working capital of $762,675, accumulated deficit of $14,008,897 and a net loss for the year ended March 31, 2007 of $236,956.
 
Intellectual Property: The Company relies on a combination of trade secret and copyright laws and confidentiality and non-competition agreements to establish and protect proprietary rights in its products. The Company has registered the trademark “Soltron®” and the service mark “Solpower®” with the United States Patent and Trademark Office. It has also registered Soltron® with the EPA for use as an aftermarket additive and for bulk fuel treatment. [SEC Filing 10-KSB 09-26-07]
 
Description: The Company is engaged in producing, marketing and distributing Soltron®, a proprietary enzyme-based fuel enhancing product.
 
Officers: Fraser M. Moffat III (Chair); Robert D. Kohn (Pres., CEO & Chief Acctg. Officer); James H. Hirst (Sec. & Dir.)
 
Auditor: Meyler & Company LLC
 
Securities: Common Stock-Symbol SLPW.PK; Other OTC; 72,259,727 common shares outstanding as of September 20, 2007.
 
 
 
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