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Prospector
Profile
07.1092
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| Genoil, Inc. |
NAICS |
211111 |
| 2833 Broadmoor Blvd.
Sherwood Park, Alberta, Canada T8H 2H3 |
Description |
Oil & Gas Exploration |
| (780) 416-5590 |
Employees |
17 |
| http://www.genoil.net/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-13.9060 |
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Assets |
(mil) |
6.4810 |
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Liability |
(mil) |
3.7820 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
Genoil, Inc. reported a net loss of $13,906,047 for the year ended December 31, 2006, substantially higher than the net loss reported of $10,923,321 in 2005 and $9,097,560 in 2004. The Company also reported an accumulated deficit of $43,779,493 in its December 31, 2006 balance sheet and strained liquidity with $1,532,284 in total current assets available to pay $1,624,922 in total current liabilities.
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Intellectual Property:
Genoil has 10 patent applications under review in Canada, the United States, Venezuela, Brazil, Europe and the Middle East, and has been granted 6 US patents (Patent nos. 6,074,549; 6,527,960; 6,125,865; 7,001,502; 7,014,756; 5,603,825), 1 Canadian patent (2,243,143), and its Velox subsidiary has 1 patent (5,965,021). Genoil either owns or licenses the rights to all intellectual properties used in its products. Genoil has copyright, patent rights and trademarks, which are necessary and contribute significantly to the preservation of its competitive position. [SEC Filing 20-F 06-28-07]
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Description:
The Company develops innovative hydrocarbon, oil and water separation, and marine technologies for the oil and gas and commercial marine industries.
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Officers:
David Lifschultz (Chair & CEO); David Kippen (Interim CFO); James F. Runyan (EVP & COO); Brian Korney (Dir.); Joseph Fatony (Dir.); Harry Bloomfield (Dir.)
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Auditor:
KPMG LLP
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Securities:
Common Stock-Symbol GNOLF.OB; OTC BB;
211,830,875 common shares outstanding as of December 31, 2006.
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