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Prospector
Profile
110-01
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| Smart SMS Corp. |
NAICS |
517210 |
| 11301 Olympic Boulevard, Suite 680
Los Angeles, CA 90064 |
Description |
Wireless Commnunications |
| (310) 445-2599 |
Employees |
0 |
| http://www.smartsmscorp.com/default.aspx |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-13.1200 |
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Assets |
(mil) |
0.0000 |
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Liability |
(mil) |
0.3200 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
RBSM LLP expressed doubts on the ability of Smart SMS Corp. to continue as a going concern after auditing its amended financial statements for the year ended December 31, 2006. The auditor notes that the Company is in the development stage and has not established any source of revenues. The Company had a net loss of $13,120,209 for the year ended December 31, 2006, much higher than the $5,626,713 net loss incurred during the year ended December 31, 2005. As of December 31, 2006, the Company's balance sheet had a $24,329,275 accumulated deficit, $320,301 stockholders' deficit and $320,301 in working capital deficit.
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Intellectual Property:
As part of its confidentiality procedures, the Company enters into nondisclosure and confidentiality agreements with key employees and any consultants and business partners. The Company intends to limit access to and distribution of its technology, documentation, and other proprietary information. [SEC Filing 10-KSB 11-30-07]
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Description:
Smart SMS is engaged in the development of text messaging services.
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Officers:
Gordon F. Lee (CEO, CFO, Sec. & Dir.)
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Auditor:
RBSM LLP
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Securities:
Common Stock-Symbol SMTC.PK; Other OTC;
35,739,885 common shares outstanding as of September 20, 2007.
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