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Prospector
Profile
1203-09
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| Wherify Wireless, Inc. |
NAICS |
334220 |
| 2000 Bridge Parkway, Suite 201
Redwood Shores, CA 94065 |
Description |
GPS Systems Mfg. |
| (650) 551-5200 |
Employees |
19 |
| http://www.wherifywireless.com/ |
Revenue |
(mil) |
0.8840 |
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Income |
(mil) |
-17.1190 |
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Assets |
(mil) |
6.1265 |
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Liability |
(mil) |
22.1720 |
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(for the year ended 2007-06-30) |
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Category:
Loss/Deficit
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Event:
Wherify Wireless, Inc. reported a net loss of $2.2 million on revenues of $0.79 million for the first quarter ended Sept. 30, 2007, compared with a net loss of $15.7 million on revenues of $0.18 million during the same period a year ago. The Company's consolidated balance sheet at Sept. 30, 2007, showed $4.5 million in total assets and $18.3 million in total liabilities, resulting in a $13.8 million total shareholders' deficit. The company's consolidated balance sheet at Sept. 30, 2007, also showed strained liquidity with $3.4 million in total current assets available to pay $18.3 million in total current liabilities.
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Intellectual Property:
The Company relies on a combination of copyright, trademark, trade secret and other intellectual property laws, nondisclosure agreements and other protective measures to protect proprietary rights in its wireless location products business. The first patent in this business segment was approved by the United States Patent Office on December 7, 1998, and was issued on May 18, 1999. Additional patents have been issued on March 26, 2002 and May 14, 2002. Other patents, filed in June 2003 and March 2005, are pending as of June 30, 2007. The Company relies on third-party licensors and other vendors for patented hardware and/or software license rights in technology that are incorporated into and are necessary for the operation and functionality of its products. [SEC Filing 10-KSB 11-14-07]
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Description:
The Company develops patented wireless location products and services for family safety and communications, and law enforcement and security technology solutions.
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Officers:
William B.G. Scigliano (Chair); W. Douglas Hajjar (Co-Chair); Jerry Parrick (Pres.); Timothy J. Neher (CEO); Mark Gitter (CFO); Robert Jacobsen (CIO); Anthony L. LaRochelle (CTO); James Harris (VP-Sales); Matthew J. Neher (VP-Bus. Devt.); John Micek III (Dir.); Daniel McKelvey (Dir.); Wade Fenn (Dir.)
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Auditor:
Malone & Bailey PC
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Securities:
Common Stock-Symbol WFYW.OB; OTC BB;
75,289,793 common shares outstanding as of September 28, 2007.
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