 |
Prospector
Profile
07.1211
|
| |
| Regi U.S., Inc. |
NAICS |
336312 |
| 240 - 11780 Hammersmith Way
Richmond, British Columbia, Canada V7A 5E9 |
Description |
Engine Mfg. |
| (604) 278-5996 |
Employees |
0 |
| http://www.regtech.com/ |
Revenue |
(mil) |
0.0000 |
| |
Income |
(mil) |
-1.4130 |
| |
Assets |
(mil) |
0.2050 |
| |
Liability |
(mil) |
0.3130 |
| |
(for the year ended 2007-04-30) |
| |
|
Category:
Audit Concerns
|
| |
|
Event:
Smythe Ratcliffe LLP notes that Regi U.S., Inc. has undergone mounting losses to date totaling $9,192,104 and further losses are expected. At April 30, 2007, the Company had working capital deficiency of $108,145. The Company's only assets are cash totaling $163,909 and prepaid expenses, totaling $41,648. The auditor concludes that these factors raise substantial doubt about the Company's ability to continue as a going concern.
|
| |
|
Intellectual Property:
U.S. patent No. 5,429,084 was granted on July 4, 1995, to the inventor, Brian Cherry, Patrick Badgley and four other individuals for various improvements incorporated in the RC/DC Engine. The patent has been assigned to the Company. U.S. Patent 4,401,070 for the Original Engine was issued on August 30, 1983, to James McCann and Rand Energy Group, Inc. holds the marketing rights. Two additional patents have been issued for improvements to the engine. The Company has submitted additional Rand Cam™ improvements for a patent in the month of July. On November 3, 2004, a Canadian Patent was issued for the Rand Cam™ Rotary Engine effective October 5, 2004. In December 2005, the Company completed an agreement to obtain the rights to the RadMax technology preliminary patent application, the RadMax trademark, including study notes, drawings and parts list from Radian, Inc. [SEC Filing 10-KSB 08-07-07]
|
| |
|
Description:
The Company is engaged in the business of developing and building an improved axial vane-type rotary engine known as the Rand Cam/Direct Charge Engine, which is a variation of the Rand Cam Rotary Engine, an axial vane rotary engine.
|
| |
|
Officers:
John G. Robertson (Chair, Pres. & CEO); James Vandeberg (COO, CFO & Dir.); Jennifer Lorette (VP & Dir.); Brian Cherry (VP); Lynn Petersen (VP); Robert Grisar (VP)
|
| |
|
Auditor:
Smythe Ratcliffe LLP
|
| |
|
Securities:
Common Stock-Symbol RGUS.OB; OTC BB;
27,011,208 common shares outstanding as of July 6, 2007.
|
| |
| |
| |
| return to main page |
|
|
