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Prospector
Profile
1220-05
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| TXP Corporation |
NAICS |
334210 |
| 1299 Commerce Drive
Richardson, TX 75081 |
Description |
Telecom Equipment Mfg. |
| (214) 575-9300 |
Employees |
82 |
| http://www.txpcorporation.com/ |
Revenue |
(mil) |
8.2280 |
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Income |
(mil) |
-4.5920 |
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Assets |
(mil) |
4.9030 |
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Liability |
(mil) |
7.8610 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
TXP Corporation had a net loss of $1,319,000 on revnues of $2,665,000 for the third quarter ended September 30, 2007, much higher than the $2,207,000 net loss on revenues of $1,659,000 reported during the third quarter of last year. For the nine months ended September 30, 2007, the Company had a $3,151,000 net loss, compared to a $2,787,000 net loss during the same period last year. The Company's balance sheet at September 30, 2007, showed an accumulated deficit of $8,341,000 and stockholder's deficit of $305,000. It also has strained liquidity with $3,945,000 in total current assets available to pay $4,262,000 in total current liabilities.
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Intellectual Property:
The Company executed a Transfer and License Agreement with Siemens AG in 2006 to acquire certain assets, including fixed assets and component inventory. The Company was granted non-exclusive, non-transferable, and non-sub licensable rights and license to use, copy and otherwise deploy software and code and know-how related to its Optical Network Terminal (ONT) technology, supporting both Broadband Passive Optical Network (BPON) and Gigabit Passive Optical Network (GPON) standards. TXP was also granted non-exclusive, non-transferable, and non-sub licensable rights and license to use under the pertinent patents related to BPON and GPON ONT to manufacture, market and further develop the BPON and GPON ONT products. Further, any intellectual property created or made on behalf TXP related to BPON or GPON ONTs would become vested to TXP. [SEC Filing 10-KSB 04-09-07]
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Description:
TXP operates as an original design manufacturer for the communications industry.
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Officers:
Michael Shores (Chair, Pres. & CEO); Robert Bruce (CFO & Dir.); Eric Miscoll (VP); Theodore Dubbs (Dir.)
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Auditor:
Payne Smith & Jones PC
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Securities:
Common Stock-Symbol TXPO.OB; OTC BB;
116,535,647 common shares outstanding as of November 14, 2007.
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