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Prospector
Profile
08.0007
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| CalbaTech, Inc. |
NAICS |
541710 |
| 15375 Barranca Parkway, Suite I-101
Irvine, CA 92618 |
Description |
Biotechnology |
| (949) 450-9910 |
Employees |
16 |
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Revenue |
(mil) |
1.2500 |
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Income |
(mil) |
0.0130 |
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Assets |
(mil) |
0.5200 |
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Liability |
(mil) |
5.2740 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Turner Jones & Associates PLLC raised doubts on the ability of CalbaTech, Inc. to continue as a going concern after auditing its financial statements for the year ended December 31, 2006. The auditor notes that the Company has suffered recurring losses from operations, negative working capital, and negative cash flows from operations. The Company has an accumulated deficit of $11.58 million, stockholders' deficit of $4.75 million and working capital deficit of $2.03 million as of December 31, 2006.
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Intellectual Property:
The Company has three patent applications filed with the U.S. Patent and Trademark Office to protect its technologies. The first of these patent applications entitled "Device and methods for processing sample and detecting analytes at low concentration" is a US Patent Application Serial No. 11/034,227 filed 01/12/05 by James Zoval, Ph.D. This application describes a novel concept for the isolation and purification of DNA and other biological molecules. The second patent application was entitled "Cardiac Stem Cell Delivery Apparatus", by inventor Jason Van Tassel, M.D. This application is now entitled "Device and methods for treatment of necrotic tissue using Stem Cells" Serial No 11/149/960 filed June 10th 2005. This patent describes a modification of endoscope technology which will facilitate the targeted delivery of adult stem cells to specific tissues. CalbaTech has filed a third US Patent Application, Serial No. 11/591,434, entitled "methods for harvesting and storing autologous stem cells including blood derived hematopoeitic stem cell and adipose derived mesenchymal stem cells", filed October 31st 2006. This describes specific methods and processes associated with adult stem cell storage which will be incorporated into LifeStem's business model. [SEC Filing 10-KSB/A 11-20-07]
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Description:
The Company is focused on incubating life science based companies that are developing next generation products and technologies.
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Officers:
James DeOlden (CEO & Dir.); Edward H. Deese (Pres., COO & Dir.); John Gordon (Chief Technology Officer & Dir.)
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Auditor:
Turner Jones & Associates PLLC
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Securities:
Common Stock-Symbol CLBE.OB; OTC BB;
141,369,434 common shares outstanding as of September 30, 2007.
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