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Prospector
Profile
125-001
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| Atheron, Inc. |
NAICS |
211112 |
| 3598 Durango St. Palanan
Makati City, Philippines 1235 |
Description |
Natural Gasoline Production |
| (632) 728 1626 |
Employees |
2 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.0250 |
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Assets |
(mil) |
0.0000 |
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Liability |
(mil) |
0.0250 |
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(for the year ended 2007-08-31) |
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Category:
Audit Concerns
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Event:
Maddox Ungar Silberstein PLLC raised doubts on the ability of Atheron, Inc., to continue as a going concern after auditing its financial statement for the year ended August 31, 2007. The auditor notes that the Company has limited working capital, has not yet received revenue from sales of products or services, and has incurred losses from operations. Furthermore, the ability of Atheron to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. The Company has an accumulated deficit of $68,985 and stockholders' deficit of $25,985 at August 31, 2007.
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Intellectual Property:
The Company's core technology is a formula of ethanol-methanol gasoline, which is prepared from light oil, naphtha, straight-run gasoline and key additives. The Company is in the process of researching patent rights, and is not aware of anyone in Philippines having any patents, trademarks and/or copyright protection for the technologies and any proprietary rights to these technologies. The Company believes that the mixed gasoline formula it developed should be protected. In addition, the Company plans to apply for patent protection and/or copyright protection in the United States, Philippines and other jurisdictions, and will require purchasers of its products to enter into non-disclosure agreements with the Company. [SEC Filing 10-KSB 11-08-2007]
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Description:
Atheron, Inc., a development stage company, develops a technology for ethanol-methanol gasoline.
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Officers:
Susanna Hilario (Pres., Treas.& Sec); Rey V. Supera (Chief Technology Officer)
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Auditor:
Maddox Ungar Silberstein PLLC
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Securities:
Common Stock-Symbol AHRN.OB; OTC BB;
2,150,000 common shares outstanding as of November 30, 2007.
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