Prospector
Profile
1112-09
|
| |
| Versadial, Inc. |
NAICS |
335211 |
| 305 Madison Avenue
New York, NY 10165 |
Description |
Blenders Mfg. |
| (212) 986-0886 |
Employees |
7 |
| http://www.versadialworld.com/ |
Revenue |
(mil) |
1.3960 |
| |
Income |
(mil) |
-7.9420 |
| |
Assets |
(mil) |
6.0210 |
| |
Liability |
(mil) |
19.3600 |
| |
(for the year ended 2007-06-30) |
| |
|
Category:
Audit Concerns
|
| |
|
Event:
Rothstein Kass & Company PC raised doubts on the ability of Versadial, Inc. to continue as a going concern after auditing its financial statements. The auditor notes that the Company's ability to continue in the normal course of business is dependent upon the success of future operations. The Company has incurred cumulative losses of approximately $14.8 million since inception and utilized cash of approximately $5.1 million for operating activities during the two years ended June 30, 2007. The Company has a working capital deficit of approximately $6.5 million and a stockholders' deficit of approximately $13.3 million as of June 30, 2007.
|
| |
|
Intellectual Property:
The Company relies on a combination of patent, trademark, copyright and trade secret protection laws in the United States and other jurisdictions, as well as confidentiality procedures and contractual provisions to protect its intellectual property and brand. The licensed product was issued U.S. Patent No. 6,464,107 on October 15, 2002 and owned by Gerhard Brugger. The Company has the rights to any extensions or improvements to the patent under the terms of the license agreement to protect its core technologies. The Company also enters into confidentiality, non-compete and invention assignment agreements with employees and consultants and nondisclosure agreements with third parties. Versadial® is a registered trademark in the United States. [SEC Filing 10-KSB 10-15-07]
|
| |
|
Description:
The Company engages in the manufacture of a dispenser that enables the user to blend two liquids in varying proportions in the United States and internationally.
|
| |
|
Officers:
Geoffrey Donaldson (Chair, CEO & CFO); Karen Nazzareno (Sec. & Controller); Robin Bartosh (Dir.); Edward P. Bond (Dir.); Thomas Coyle (Dir.); Richard Harriton (Dir.); Michael W. Hawthorne (Dir.)
|
| |
|
Auditor:
Rothstein Kass & Company PC
|
| |
|
Securities:
Common Stock-Symbol VSDL.OB; OTC BB;
15,309,194 common shares outstanding as of October 12, 2007.
|
| |
| |
| |
| return to main page |
