August 13, 2007
Prospector
Profile
07.1178
 
Medina International Holdings, Inc. NAICS 336612
10088 6th Street, Suite G Rancho Cucamonga, CA 91730 Description Boat Builders
(303) 741-5785 Employees 0
http://www.medinaih.com/ Revenue (mil) 0.0000
  Income (mil) -0.6490
  Assets (mil) 0.4050
  Liability (mil) 0.4650
  (for the year ended 2007-04-30)
 
Category: Audit Concerns
 
Event: Jaspers + Hall PC has issued a "going concern" qualification after auditing Medina International Holdings, Inc.'s financial statement. The auditor points out that the Company has no revenue, limited capital, debt in excess of $465,630, no significant cash, minimal other assets, and no capital commitments.
 
Intellectual Property: In manufacturing watercrafts, the Company uses several patented designs, which are licensed from Albert Mardikian. In February 2005, the Company signed a license agreement with Mr. Mardikian to manufacture and sell Vortex boats. In January 2006, the Company also signed a license agreement with Mr. Mardikian to use his water pump patent (United States Patent 6,343,964) in the fire and rescue boats. In June 2006, the Company signed a license agreement with Mr. Mardikian to use his design for the manufacturing of 15' Rescue boats. [SEC Filing 10-KSB 07-27-07]
 
Description: The Company manufactures commercial and recreational watercrafts in the United States.
 
Officers: Daniel Medina (Pres., CEO & Dir.); Madhava Rao Mankal (CFO); Mike Swanson (Dir.); Tony Eishet (Dir.); Arun Madhav (Dir.)
 
Auditor: Jaspers + Hall PC
 
Securities: Common Stock-Symbol MIHI.OB; OTC BB; 31,988,541 common shares outstanding as of July 16, 2007.
 
 
 
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