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Prospector
Profile
131-002
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| Ariel Way, Inc. |
NAICS |
541618 |
| 8000 Towers Crescent Drive, Suite 1220
Vienna, VA 22182 |
Description |
Consulting Services |
| (703) 918-2420 |
Employees |
0 |
| http://www.arielway.com |
Revenue |
(mil) |
0.9220 |
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Income |
(mil) |
0.5990 |
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Assets |
(mil) |
0.0080 |
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Liability |
(mil) |
2.5580 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Bagell Josephs Levine & Company LLC expressed substantial doubt about Ariel Way, Inc.'s ability to continue as a going concern after it audited the Company's financial statements for the year ended September 30, 2007. The auditing firm reported that the Company did not generate sufficient cash flows from revenues during the year ended September 30, 2007, to fund its operations. Also at September 30, 2007, the Company had negative net working capital of $2,554,341. Unless the Company is successful in generating new sources of revenue, or obtaining debt or equity financing, or restructuring its business, the Company is likely to deplete its working capital during 2008. The Company's balance sheet at September 30, 2007, showed an accumulated deficit of $5,167,535 and stockholders' deficit of $2,550,328.
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Intellectual Property:
The Company regards certain aspects of its products, processes, services and technology as proprietary. It intends to take steps to protect them with patents, copyrights, trademarks, restrictions on disclosure and other methods. The Company also owns several Internet domain names, including www.arielway.com. The Company's ability to commercialize its solutions and products is dependent on the advancement of its existing technology. In order to obtain and maintain market share the Company will continually be required to make advances in technology. [SEC Filing 10-KSB 01-14-08]
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Description:
Ariel Way, Inc. operates as a technology and services company for global communications, multimedia, and digital signage solutions and technologies.
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Officers:
Arne Dunhem (Chair, Pres., CEO); Leif T. Carlsson (Dir.)
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Auditor:
Bagell Josephs Levine & Company LLC
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Securities:
Common Stock-Symbol AWYI.OB; OTC BB; 595,000,000 common shares outstanding as of January 11, 2008.
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