November 12, 2007
Prospector
Profile
1110-04
 
Corgi International Limited NAICS 453220
New Mandarin Plaza, 14 Science Museum Road Kowloon, Hongkong Description Gift Shop
(925) 930-3407 Employees 159
http://www.masterreplicas.com Revenue (mil) 35.4970
  Income (mil) -13.2620
  Assets (mil) 67.8300
  Liability (mil) 37.9400
  (for the year ended 2007-03-31)
 
Category: Audit Concerns
 
Event: Eisner LLP expressed doubts on the ability of Corgi International Limited to continue as a going concern after auditing its financial statements. The auditor notes that the Company has suffered recurring losses from operations, has a working capital deficiency, an accumulated deficit and limited financing sources. The Company had net losses of $13,262,844 on net sales of $35,497,317 for the year ended March 31, 2007. The Company's balance sheet as of March 31, 2007 showed an accumulated deficit of $10,826,847 and working capital deficit of $2,494,690.
 
Intellectual Property: The Company owns certain trademarks and other intellectual property rights associated with products marketed and sold. Key trademarks are registered in the substantive territories in which it operates or distributes. The Company's key employees have entered into confidentiality agreements. The Company holds license agreements with entertainment, publishing and media companies; automotive and truck manufacturers; agricultural and construction vehicle and equipment manufacturers. Some of its key licensed properties, includes licenses for certain Star Wars, Spiderman and Harry Potter products. [SEC Filing 10-KSB 10-15-07]
 
Description: Corgi International Limited designs, produces, markets, and distributes licensed and unlicensed pop culture collectibles, gifts, and toys. Its products include movie and television prop replicas, die-cast collectibles, and gift and toy products.
 
Officers: Carrick John Clough (Chair); Michael Cookson (CEO); Darren Epstein (EVP & Chief Strategy Officer); Leo Paul Koulos (Dir.); Charles C. McGettigan (Dir.); Daniel Widdicombe (Dir.); Timothy Steel (Dir.)
 
Auditor: Eisner LLP
 
Securities: Common Stock-Symbol CRGI; NasdaqGM; 10,465,355 common shares outstanding as of March 31, 2007
 
 
 
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