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Prospector
Profile
07.1048
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| BodyTel Scientific, Inc. |
NAICS |
339100 |
| 2470 Saint Rose Parkway, Suite 304
Henderson, NV 89074 |
Description |
Medical Equipment Mfg. |
| (702) 448-5628 |
Employees |
0 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.1830 |
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Assets |
(mil) |
1.0920 |
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Liability |
(mil) |
0.0290 |
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(for the year ended 2007-02-28) |
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Category:
Audit Concerns
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Event:
Davis Accounting Group PC expressed substantial doubt about the ability of BodyTel Scientific, Inc. to continue as a going concern after auditing its financial statements. The auditor notes that the Company has not established any source of revenue to cover its operating costs. As such, it has incurred an operating loss since inception. Further, as of February 28, 2007, the Company had negative working capital of $7,232, and the Company had no cash resources to meet its planned business objectives.
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Intellectual Property:
On December 6, 2006, the Company entered into a joint venture arrangement with Safe-com GmbH & Co. KG. Under this arrangement, the Company retained 50% ownership of the joint venture under the name of GlucoTel Scientific, Inc. Safe-com transferred to the joint venture all received trade marks or trade marks which are currently in approval for GlucoTel, all patent applications for GlucoTel, the IP Rights and Source Code for the GlucoTel Software running on the mobile phones, the IP Rights and Source Code for the Webserver and Portal, the design prototype, the rights for the design of the meter, the negotiated contracts with the manufacturers of the meter and the strip manufacturer, the working prototypes of the meter, all marketing and promotional equipment and all blueprints and architectural studies of the glucose meter. [SEC Filing 10-KSB 06-20-07]
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Description:
The Company develops monitoring products and services to diabetic patients in the United States.
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Officers:
Stefan Schraps (Pres. & CEO)
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Auditor:
Davis Accounting Group PC
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Securities:
Common Stock-Symbol BDYT.OB; OTC BB;
3,975,000 common shares outstanding as of February 28, 2007.
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