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Prospector
Profile
1108-05
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| Asap Show, Inc. |
NAICS |
324110 |
| 9436 Jacob Lane
Rosemead, CA 91731 |
Description |
Petroleum Refineries |
| (626) 636-2530 |
Employees |
16 |
| http://www.asapshow.com/ |
Revenue |
(mil) |
1.6030 |
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Income |
(mil) |
-0.5860 |
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Assets |
(mil) |
0.1020 |
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Liability |
(mil) |
1.9100 |
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(for the year ended 2007-05-31) |
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Category:
Audit Concerns
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Event:
Sutton Robinson Freeman & Company PC raised substantial doubt about Asap Show, Inc.'s ability to continue as a going concern after auditing its financial statements. The auditor notes that the Company has suffered recurring net losses of $586,702 and $684,920 during the years ended May 31, 2007 and 2006, respectively and has a net capital deficiency of $1,767,588 at May 31, 2007.
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Intellectual Property:
ASAP has one patent pending that pertains to the business processes Global Financial Platform (GFP). ASAP's GFP eliminates the need for letters of credit by allowing overseas suppliers to ship merchandise to pre-approved retailers/buyers in the United States. In addition, ASAP has trademarked the trade names ASAP Global Sourcing Show™, DEPS™, FOCASTING™, and Internet Sourcing Network™. [SEC Filing 10-KSB 09-07-07]
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Description:
The Company acquired Yili Asphalt Company, which is engaged in the business of refining heavy oil into asphalt, fuel oil and lubricants.
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Officers:
Chunshi Li (Chair & CEO); Frank S. Yuan (Dir.)
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Auditor:
Sutton Robinson Freeman & Company PC
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Securities:
8,701,480 common shares outstanding as of August 27, 2007.
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