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Prospector
Profile
07.1156
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| PSi Technologies Holdings, Inc. |
NAICS |
334400 |
| FTI Special Economic Zone
Taguig, Manila, Philippines 1604 |
Description |
Semiconductors Mfg. |
| 3-2-838-4688 |
Employees |
2840 |
| http://www.psitechnologies.com/ |
Revenue |
(mil) |
89.7400 |
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Income |
(mil) |
-11.6000 |
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Assets |
(mil) |
61.7800 |
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Liability |
(mil) |
45.4300 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
SyCip Gorres Velayo & Company expressed doubts on the ability of Psi Technologies Holdings, Inc. to continue as a a going concern after auditing its financial statements for the year ended December 31, 2006. The auditor points out that the Company has incurred recurring losses since 2001. Its net loss for the years ended December 31, 2006, 2005 and 2004 amounted to $11.6 million, $19.7 million and $14.6 million, respectively, while deficit amounted to $61.7 million as of December 31, 2006. Further, the Company's negative working capital amounted to $13.4 million as of December 31, 2006.
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Intellectual Property:
On November 27, 2004, the Company signed a broad, multi-year patent license agreement with Amkor Technology, Inc. that grants them rights under Amkor’s portfolio of patents relating to MicroLeadFrame® technology, MicroLeadFrame® packages and QFN packages. The agreement also grants Amkor access to the intellectual property being developed by PSi related to its Power QFN technology. In 2005, the Company filed its first two patent applications with the U.S. Patent and Trademark Office, for a plastic integrated circuit package, lead frame and method for use in making the package and method of putting isolated metallic interconnections onto a metallic substrate, respectively. Both patent applications are currently pending. [SEC Filing 20-F 07-16-07]
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Description:
The Company provides power and non-power semiconductor assembly and test services to power semiconductor companies worldwide.
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Officers:
Arthur J. Young, Jr. (Chair, Pres. & CEO); Gordon J. Stevenson (EVP, COO & Dir.);
Francisco H. Suarez, Jr. (CFO & Treas.); Thomas Moersheim (CTO); Helen G. Tiu (Sec.); Mandakini Puri (Dir.); Brian A. Renaud (Dir.); Roberto F. de Ocampo (Dir.); Romeo L. Bernardo (Dir.); Patchara Samalapa (Dir.)
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Auditor:
SyCip Gorres Velayo & Company
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Securities:
Common Stock-Symbol PSIT; NasdaqCM;
13,289,525 common shares outstanding as of December 31, 2006.
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