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Prospector
Profile
1203-04
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| GPS Industries, Inc. |
NAICS |
334220 |
| 5500 152nd Street, Suite 214
Surrey, British Columbia, Canada V3S 5J9 |
Description |
GPS Systems Mfg. |
| (604) 576-7442 |
Employees |
0 |
| http://www.gpsindustries.com/ |
Revenue |
(mil) |
6.5750 |
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Income |
(mil) |
-16.9500 |
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Assets |
(mil) |
11.9360 |
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Liability |
(mil) |
17.5090 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
GPS Industries, Inc., reported a net loss of $3,530,000 on total revenue of $988,887 for the third quarter ended Sept. 30, 2007, compared with a net loss of $3,480,000 on total revenue of $2,120,000 for the same period last year. The company's consolidated balance sheet at Sept. 30, 2007, showed $13,900,000 in total assets and $14,900,000 in total liabilities, resulting in $1,000,000 total shareholders' deficit. It also has strained liquidity with $9,900,000 in total current assets available to pay $14,900,000 in total current liabilities.
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Intellectual Property:
On July 2, 2004, the Company purchased the patents to Differential GPS in Australia, Japan and 11 European Nations from Pinranger (Australia) Pty Ltd. On November 19, 2004, the Company purchased the patents to GPS for golf in the United States and in Canada from Optimal Golf Solutions, Inc. In addition to providing broad patent protection for a number of products in the GPS market, these patents also generate recurring revenue through licensing fees. The patents have been licensed to six companies and the Company intends to license these patents on a non-exclusive basis to other GPS-based golf system providers. In addition, the Company has filed for and obtained five patents for a hand held communicator, charging base for electronic apparatus, golf course communication system, Endurable Sports PDA with communications capabilities and accessories, portable GPS unit, cart mounted GPS unit, mounting bracket patent, and method for conducting a multi-golf course performance contest. The Company also registered the trademarks Inforemer 2000 Handset Software, Inforetech Clubhouse Computer Software and Inforetech in the US, European Community and Canada. [SEC Filing 10-KSB 04-16-07]
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Description:
The Company develops and markets GPS and Wi-Fi multimedia solutions to enable managers of golf facilities, resorts, and GPS Industries, Inc., residential communities to improve operational efficiencies and generate significant new revenue streams.
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Officers:
Robert C. Silzer, Sr. (Chair, Pres., CEO & CFO); Alex Doaga (SVP & Chief Technical Officer); Michael Martin (Controller); Bart Collins (EVP & Dir.); Douglas J. Wood (Dir.); Robert Linn (Dir.); Marc Potter (Dir.)
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Auditor:
Sherb & Company LLP
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Securities:
Common Stock Symbol Common Stock Symbol GPSN.OB; OTC BB;
401,903.369 common shares outstanding as of Nov. 16, 2007.
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