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Prospector
Profile
1115-07
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| OptiCon Systems, Inc. |
NAICS |
511210 |
| Tollway Plaza Center, 15950 North Dallas Parkway
Dallas, TX 75248 |
Description |
Software Publishers |
| (817) 812-2109 |
Employees |
2 |
| http://www.opticonsystemsinc.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.7240 |
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Assets |
(mil) |
0.2200 |
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Liability |
(mil) |
1.4670 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
KBL LLP expressed substantial doubt about the ability of OptiCon Systems, Inc. to continue as a going concern after auditing its financial statements. The auditor notes that the Company has suffered recurring net losses of $724,492 and $656,885 for the years ended June 30, 2007 and 2006, respectively. This resulted in an accumulated deficit of $1,402,377 and a net stockholders' deficit of $1,246,879 as of June 30, 2007.
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Intellectual Property:
The Company's intellectual property consists of all intellectual property related to the Opticon Network Manager software. The Company regards its Opticon software and its documentation as proprietary and the source code for the software as a trade secret. The Company acquired the name Opticon and the associated design from FutureTech. The Opticon software is protected under U.S. and international copyright laws and laws related to the protection of intellectual property and proprietary information. [SEC Filing 10-KSB 10-15-07]
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Description:
The Company develops the Opticon Network Manager software, which is designed to manage large fiber optic cable networks more efficiently.
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Officers:
Sadruddin Currimbhoy (CEO & Dir.); R. Derek Haake (Sec. & Dir.); Cristino L. Perez (CFO); Saeed ("Sam") Talari (Dir.)
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Auditor:
KBL LLP
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Securities:
33,544,858 common shares outstanding as of September 29, 2007.
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