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Prospector
Profile
07.1074
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| Vubotics, Inc. |
NAICS |
511210 |
| 5555 Glenridge Connector, Suite 200
Atlanta, GA 30342 |
Description |
Software Publishers |
| (404) 459-5850 |
Employees |
1 |
| http://vubotics.com/home.htm |
Revenue |
(mil) |
0.0370 |
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Income |
(mil) |
-2.6530 |
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Assets |
(mil) |
0.5440 |
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Liability |
(mil) |
1.7670 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
E. Phillip Bailey, CPA expressed doubts on the ability of Vubotics, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company has incurred net losses of $2,653,447 and $2,038,096 for the twelve months ended December 31, 2006 and 2005, respectively. It also had a working capital deficiency of $1,252,231 and an equity deficiency of $1,925,763 at December 31, 2006 and has significant currently maturing debt and related accrued interest.
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Intellectual Property:
The Company relies on a combination of patent and trademark laws to establish proprietary rights in its products. The Company owns several issued and pending United States patents for its inventions. VuBotics has obtained U.S. federal registration for a number of trademarks including its “VuBotics”, “VuIT”, stylized “V”, “NewSpeed”, “Information at BrainSpeed”, “Art of ZEM”, and “VuMetrics” trademarks. [SEC Filing 10-KSB/A 06-15-07]
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Description:
The Company provides technology for reading.
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Officers:
Philip E. Lundquist (Chair, CEO & CFO); Ronan A. Harris (Dir.); Robert T. Eramian (Dir.)
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Auditor:
E. Phillip Bailey, CPA
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Securities:
Common Stock-Symbol VBTC.OB; OTC BB;
52,228,718 common shares outstanding as of March 19, 2007.
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