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Prospector
Profile
125-002
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| Hydrogen Hybrid Technologies, Inc. |
NAICS |
336312 |
| 1845 Sandstone Manor Unit #11
Pickering, Ontario, Canada L1W 3X9 |
Description |
Fuel Injection Systems Dist. |
| (905) 697-4880 |
Employees |
0 |
| http://www.hydrogenht.com/ |
Revenue |
(mil) |
0.1200 |
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Income |
(mil) |
-1.1390 |
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Assets |
(mil) |
5.3400 |
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Liability |
(mil) |
1.1000 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Moore & Associates Chartered, expressed substantial doubt about Hydrogen Hybrid Technologies, Inc.'s ability to continue as a going concern after auditing its financial statements for the year ended September 30, 2007. The auditor points out that the Company has accumulated a deficit of $1,319,478 as of September 30, 2007 and has not established a source of revenues sufficient to cover its operating costs. The Company had a net loss of $1,139,364 on revenues of $120,837 for the year ended September 30, 2007, much higher than the net loss of $180,114 on $0 revenues reported during the year ended September 30, 2006. It also has strained liquidity with $556,649 in total current assets available to pay $1,100,886 in total current liabilities.
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Intellectual Property:
The Company relies on trade secret law, confidentiality agreements and physical security such as restricted access to protect much of its intellectual property. The Company plans to enter into confidentiality agreements with its future employees, contract suppliers and future consultants and in connection with its license agreements with third parties and generally seeks to control access to and distribution of its intellectual property, documentation and other proprietary information. It has acquired the exclusive rights to market a proprietary patented technology from a related company. In addition, the Company holds non-exclusive rights to distribute the product to other markets including the heavy goods vehicle market. [SEC Filing 10-KSB 01-09-2008]
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Description:
Hydrogen Hybrid Technologies sells and distributes on-board hydrogen generating and injections systems for the Original Equipment Manufacturer (OEM), car and light truck markets globally.
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Officers:
Ira Lyons (Pres.)
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Auditor:
Moore & Associates Chartered
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Securities:
Common Stock-Symbol HYHY.OB; OTC BB; 129,071,362 common shares outstanding as of January 7, 2008.
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