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Prospector
Profile
118-06
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| Stratus Services Group, Inc. |
NAICS |
561330 |
| 149 Avenue at the Common, Suite 3
Shrewsbury, NJ 07702 |
Description |
Staffing Services |
| (732) 945-4803 |
Employees |
87 |
| http://www.stratusservices.com/ |
Revenue |
(mil) |
8.2090 |
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Income |
(mil) |
-0.2830 |
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Assets |
(mil) |
3.8050 |
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Liability |
(mil) |
11.0380 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Gruber & Company LLC expressed substantial doubt about the ability of Stratus Services Group, 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 recurring losses from operations and net capital deficit. The company posted a net loss of $283,843 on revenues of $8,209,564 for the year ended Sept. 30, 2007, as compared with a net income of $1,441,661 on revenues of $5,131,081 in the prior year. As of Sept. 30, 2007, the company had strained liquidity with total current assets of $1,749,528 available to pay its total current liabilities of $9,787,281. At Sept. 30, 2007, the company's balance sheet showed $3,805,407 in total assets, $11,038,152 in total liabilities, $547,135 in minority interest, and $7,779,880 stockholders' deficit.
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Intellectual Property:
The Company is asserting Common Law protection for the slogans, names and logos of Stratus, STS or Green-Tech by holding the marks out to the public as its property. [SEC Filing 10-K 01-14-08]
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Description:
Stratus Services Group, through its 50% owned joint venture, Stratus Technology Services LLC, provides information technology staffing solutions in the United States.
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Officers:
Joseph J. Raymond (Chair, Pres. & CEO); Michael A. Maltzman (Treas. & CFO); J. Todd Raymond (Sec.); Norman Goldstein (Dir.); Thurston J. Hartford (Dir.)
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Auditor:
Gruber & Company LLC
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Securities:
Common Stock-Symbol SSVG.OB; OTC BB;
69,568,617 common shares outstanding as of December 31, 2007.
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