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Prospector
Profile
07.1190
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| AFV Solutions, Inc. |
NAICS |
335999 |
| 9710 Research Drive
Irvine, CA 92618 |
Description |
Fuel Cells Mfg. |
| (949) 748-6600 |
Employees |
13 |
| http://www.afvsolutions.com/ |
Revenue |
(mil) |
0.0620 |
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Income |
(mil) |
-2.0840 |
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Assets |
(mil) |
4.2030 |
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Liability |
(mil) |
0.5930 |
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(for the year ended 2006-06-30) |
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Category:
Loss/Deficit
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Event:
AFV Solutions, Inc. reported a net loss of $429,977 for the three months ended March 31, 2007, much lower than the net loss of $778,454 reported during the same quarter last year. For the nine months ended March 31, 2007, the Company reported a net loss of $2,640,753, lower than the net loss of $3,507,394 reported during the same period last year. As a result of its recurring losses, the Company has an accumulated deficit of $7,733,835 as of March 31, 2007.
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Intellectual Property:
The Company has not filed any patent applications for its alternative fuel products. However, the Company has successfully received its first certificates of conformity from the U.S. Environmental Protection Agency for gasoline/propane bifuel conversion system for the Ford Motor Company 4.6 liter engine. Additionally, during the quarter ended March 31, 2006, the Company received a certificate of conformity from the U.S. Environmental Protection Agency for a dedicated propane system for the 2005 Ford Motor Company 4.6 liter engine. The Company plans to continue to seek EPA certifications for additional year and engine makes of different automobiles. The Company also entered into a purchase agreement with STALK LLC to purchase certain assets involved in the testing and analysis of alternative fuel systems. The Company also owns, as a result of an IP Agreement, the trademark Bed & Biscuit Inn™, which is registered with the U.S. Patent and Trademark Office. The Company announced in May 2006 its intention to spin off its Bed & Biscuit subsidiary. [SEC Filing 10-KSB 10-11-06]
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Description:
The Company operates as an alternative fuel vehicle solutions provider in the United States.
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Officers:
Jeffrey Groscost (Pres., Sec., Treas. & Dir.); Suzanne Herring (CFO); Grant Gazdig (Dir.); Alexander Leon (Dir.); Carlos Zalduondo (Dir.)
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Auditor:
Shelley International CPA
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Securities:
Common Stock-Symbol AFVS.OB; OTC BB;
22,915,300 common shares outstanding as of June 12, 2007.
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