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Prospector
Profile
07.1652
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| SVI Media, Inc. |
NAICS |
516110 |
| One Technology Drive, Building H
Irvine, CA 92618 |
Description |
Internet Sites |
| (949) 341-0050 |
Employees |
168 |
| http://www.oxfordmediainc.com |
Revenue |
(mil) |
6.4910 |
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Income |
(mil) |
-28.5050 |
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Assets |
(mil) |
14.5550 |
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Liability |
(mil) |
30.3640 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
SVI Media, Inc. reported a net loss of $6.3 million on revenue of $3.2 million for the third quarter ended Sept. 30, 2007, compared with a net loss of $7.2 million on revenue of $3.7 million in the same period 12 months ago. The Company's consolidated balance sheet at Sept. 30, 2007, showed $10.8 million in total assets, $6.0 million in total liabilities, and $23.4 million in preferred stock, resulting in a $18.6 million total shareholders' deficit. At Sept. 30, 2007, the company's consolidated balance sheet also showed strained liquidity with $2.6 million in total current assets available to pay $4.0 million in total current liabilities. Management anticipates its current cash reserves including the funds received from the Senior Secured Notes will be sufficient to fund anticipated operations into December 2007. The company is currently experiencing issues with paying its vendors and if additional capital is not obtained by December 2007, the company may be required to seek bankruptcy relief which can lead to a liquidation of the company's assets.
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Intellectual Property:
Effective December 31, 2005, the Company acquired PDHK Services, Inc., a privately held company specializing in content delivery software over wireless and IP networks. This acquisition gave the Company the technology license used in the delivery of content delivery over future Private Broadband Networks. It also acquired four patents and three trademarks as result of its acquisition of SVI Hotel Corporation. [SEC Filing SB-2 09-14-07]
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Description:
The Company provides a range of products and services to the hospitality industry in the United States.
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Officers:
Lewis Jaffe (Pres., CEO & Dir.); Elizabeth Salmon (COO); Brian Weiss (Interim CFO); David Malm (Dir.); Eric H. Winston, Sr. (Dir.); Anthony Cantone (Dir.)
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Auditor:
McKennon Wilson & Morgan LLP
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Securities:
Common Stock-Symbol SVIA.OB; OTC BB;
1,604,952 common shares outstanding as of November 19, 2007.
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