Prospector
Profile
07.1140
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| Diamond Entertainment Corporation |
NAICS |
532210 |
| 800 Tucker Lane
Walnut, CA 91789 |
Description |
Video Rental |
| (909) 839-1989 |
Employees |
0 |
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Revenue |
(mil) |
2.2950 |
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Income |
(mil) |
-8.8780 |
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Assets |
(mil) |
2.4780 |
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Liability |
(mil) |
12.0890 |
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(for the year ended 2007-03-31) |
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Category:
Audit Concerns
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Event:
PMB + Helin Donovan Company LLP expressed substantial doubt on the ability of Diamond Entertainment Corporation to continue as a going concern after auditing its financial statements due to its recurring losses from operations, negative cash flows from operations, working capital deficit. In addition, the Company is delinquent in payment of certain accounts payable.
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Intellectual Property:
The Company relies on a combination of common law trademark, copyright and trade secret law to establish and protect property rights. In addition, in the toys product line, the Woblong®, subsequently renamed as the Zoombie®, is protected by patent claims in the form of a utility patent registered with the U.S. Patent and Trademark Office. The U.S. Patent number is 5,131,879. In addition, design patent No. D344,989 was issued to the Company on March 9, 1994. The Company also licenses approximately 276 video titles from licensors for duplication and distribution, generally on a non-exclusive basis. [SEC Filing 10-KSB 07-16-07]
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Description:
The Company engages in the distribution and sale of digital video discs (DVD) and videocassette titles to the home video and DVD market in the United States.
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Officers:
Mulugetta Bezzabeh (CEO & Dir.); James K.T. Lu (Dir.); Fred U. Odaka (CFO); Murray T. Scott (Dir.); Howard Becker (Dir.)
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Auditor:
PMB + Helin Donovan Company LLP
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Securities:
Common Stock-Symbol DMONE.OB; OTC BB;
189,821,018 common shares outstanding as of June 30, 2007.
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