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Prospector
Profile
07.1112
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| Cryoport, Inc. |
NAICS |
332439 |
| 451 Atlas Street
Brea, CA 92821 |
Description |
Containers Mfg. |
| (714) 256-6100 |
Employees |
4 |
| http://www.cryoport.com/index.php |
Revenue |
(mil) |
0.0670 |
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Income |
(mil) |
-2.3260 |
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Assets |
(mil) |
0.4830 |
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Liability |
(mil) |
2.7710 |
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(for the year ended 2007-03-31) |
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Category:
Audit Concerns
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Event:
KMJ Corbin & Company LLP raised doubts on the ability of Cryoport, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company has not generated significant revenues from operations and has no assurance of any future significant revenues. The Company incurred net losses of $2,326,259 and $1,522,101 for the years ended March 31, 2007 and 2006 respectively. In addition, the Company’s accumulated deficit was $9,365,150 and the Company had a negative working capital deficit of $478,396.
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Intellectual Property:
The Company currently holds two issued U.S. trademarks and three issued U.S. patents primarily covering various aspects of its products. In addition, the Company intends to file for additional patents to strengthen its intellectual property rights. The technology covered by the patents refer to matters specific to the use of liquid nitrogen dewars relative to the shipment of biological materials. The concepts include those of disposability, package configuration details, liquid nitrogen retention systems, systems related to thermal performance, systems related to packaging integrity, and matters generally relevant to the containment of liquid nitrogen. [SEC Filing 10-KSB
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Description:
The Company manufactures reusable cryogenic dry shippers for the transport of biological materials.
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Officers:
Thomas Fischer, PhD (Vice Chair); Peter Berry (Pres., CEO & Dir.); Dee S. Kelly, CPA (VP); Kenneth G. Carlson (VP); Gary C. Cannon (Sec. & Dir.); Adam M. Michelin (Dir.); Stephen L. Scott (Dir.)
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Auditor:
KMJ Corbin & Company LLP
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Securities:
Common Stock-Symbol CYRX.PK; Other OTC;
39,386,980 common shares outstanding as of June 29, 2007.
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