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Prospector
Profile
3-28-001
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| uVuMobile, Inc. |
NAICS |
516110 |
| 2160 Satellite Boulevard, Suite 130,
Duluth, GA 30097 |
Description |
Video Content Distribution |
| (678) 417-2000 |
Employees |
14 |
| http://www.uvumobile.com |
Revenue |
(mil) |
0.9500 |
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Income |
(mil) |
-8.8400 |
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Assets |
(mil) |
2.9800 |
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Liability |
(mil) |
3.0700 |
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(for the year ended 2007-12-31) |
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Category:
Audit Concerns
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Event:
Sherb & Company LLP raised substantial doubt about uVuMobile, Inc.'s ability to continue as a going concern after auditing the Company's financial statements for the years ended December 31, 2007 and 2006. The auditor pointed to the Company's recurring losses from operations and net working capital deficiency. The Company posted a net loss of $8.84 million for the year ended December 31, 2007, much lower than the net losses of $24.49 million and $19.74 million reported during the years ended December 31, 2006 and 2005, respectively. The Company's balance sheet at December 31, 2007, showed $2.98 million in total assets and $3.07 million in total liabilities, resulting to $88,247 total stockholders' deficit. It also showed strained liquidity with $1.38 million in total current assets available to pay $3.07 million in total current liabilities.
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Intellectual Property:
The Company's intellectual property is critical to its business. The Company seeks to protect intellectual property through copyrights, trademarks, patents, trade secrets, confidentiality provisions in customer, supplier, potential investors, and strategic relationship agreements, nondisclosure agreements with third-parties, and invention assignment agreements with employees and contractors. [SEC Filing 10-K 03-10-08]
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Description:
uVuMobile, Inc., formerly known as SmartVideo Technologies, Inc., is a provider of video content distribution services and technology.
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Officers:
William J. Loughman (Pres., CEO, CFO & Dir.); Richard Seifert (Dir.); Daniel McKelvey (Dir.); William Scigliano (Dir.); Scott Hughes (Chief Technology Officer); Tony Novia (SVP-Content and Development)
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Auditor:
Sherb & Company LLP
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Securities:
Common Stock Symbol UVUM.OB; OTC BB; 67,645,299 common shares outstanding as of
March 7, 2008.
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