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Prospector
Profile
121-04
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| Remote MDx, Inc. |
NAICS |
334220 |
| 150 West Civic Center Dr., Suite 400
Sandy, UT 84070 |
Description |
GPS Systems Mfg. |
| (801) 563-7171 |
Employees |
106 |
| http://www.remotemdx.com/ |
Revenue |
(mil) |
8.5700 |
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Income |
(mil) |
-26.0220 |
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Assets |
(mil) |
15.2840 |
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Liability |
(mil) |
8.6720 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Hansen, Barnett & Maxwell expressed
substantial doubt about the ability of RemoteMDx, Inc., to continue as a going concern after it audited the company's financial statements for the year ended Sept. 30, 2007. The auditor pointed to the company's incurred recurring operating
losses and accumulated deficit. The company posted a net loss of $26,022,912 on net sales of
$8,570,540 for the year ended Sept. 30, 2007, compared with a net loss of $23,797,745 on net sales of $1,070,141 in the prior year. The company incurred cash flows from operating activities of $11,397,627 for the year ended Sept. 30, 2006. As of Sept. 30, 2007, the company's working capital was $2,596,985. It also had a net tangible stockholders' equity of $1,625,527 and an accumulated deficit of $132,749,287. At Sept. 30, 2007, the company's balance sheet showed $15,284,348 in total assets, $8,672,593 in total liabilities and $1,625,527 in stockholders' equity.
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Intellectual Property:
The Company owns four patents in the United States and one patent in China. It also has six patents pending in the United States and eight pending internationally. The Company also owns the trademarks Mobile911®, Siren With 2-Way Voice Communication®, When Every Second Matters®, Mobilepal®, Homepal®, Pal Services®, RemoteMDX®, and Trackerpal® in the United States, Canada and Mexico. [SEC Filing 10-KSB 1-15-08]
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Description:
Remote MDx markets and sells patented wireless location technologies and related monitoring services. It also develops,
markets and sells personal security, senior supervision and monitoring services.
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Officers:
David G. Derrick (Chair & CEO); James J. Dalton (Pres. & Vice Chair); Michael G. Acton (Sec., Treas. & CFO); Bruce G. Derrick (Chief Tech. Officer); Peter McCall (Dir.); Robert E. Childers (Dir.); David P. Hanlon (Dir.); Larry G. Schafran (Dir.)
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Auditor:
Hansen Barnett & Maxwell
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Securities:
Common Stock-Symbol RMDX.OB; OTC BB;
130,455,291 common shares outstanding as of December 14, 2007.
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