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Prospector
Profile
07.1206
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| Magnitude Information Systems, Inc. |
NAICS |
511210 |
| 1250 RT 28, Suite 309
Branchburg, NJ 08876 |
Description |
Software Publishers |
| (908) 927-0004 |
Employees |
4 |
| http://www.magnitude.com/ |
Revenue |
(mil) |
0.0470 |
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Income |
(mil) |
-3.8950 |
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Assets |
(mil) |
0.1690 |
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Liability |
(mil) |
2.6740 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Rosenberg Rich Baker Berman & Company expressed substantial doubt on the ability of Magnitude Information Systems, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company incurred net losses of $3,895,262 and $2,218,257 during the years ended December 31, 2006 and 2005, respectively, and has a significant working capital deficiency.
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Intellectual Property:
The Company’s primary product is a suite of nine proprietary software modules marketed under the name ErgoEnterprise™, which are designed to help individual computer users and businesses deal with potentially preventable repetitive stress injury (RSI). The nine component modules include ErgoTutor™, ErgoSURE™, ErgoSurveyor™, UserNotes™, ErgoSentry®, EMSAnalyzer™, Guardian™, ErgoQuiz™ and ErgoMap™. In May 2000, the U.S. Patent and Trademark Office awarded the Company a patent which covers various innovations including a proven approach that helps computer users manage their activity to improve productivity and reduce the risk of repetitive motion injuries. The patent-pending ErgoPal software is a work pacing tool that helps users mitigate health risks and improve their productivity by gently alerting them to increases in stress and fatigue which are occurring before they realize it. [SEC Filing 10-KSB 08-07-07]
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Description:
The Company offers an integrated suite of software modules to help individual computer users and businesses to reduce the risk of potentially preventable repetitive stress injury.
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Officers:
Steven L. Gray (Chair); Edward L. Marney (Pres., CEO & Dir.); Joerg H. Klaube (SVP, Sec., CFO & Dir.); Joseph J. Tomasek (Dir.)
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Auditor:
Rosenberg Rich Baker Berman & Company
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Securities:
Common Stock-Symbol MAGY.OB; OTC BB;
227,379,014 common shares outstanding as of March 17, 2007.
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