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Prospector
Profile
07.1295
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| Vertical Computer Systems, Inc. |
NAICS |
511210 |
| 201 Main Street, Suite 1175
Fort Worth, TX 76102 |
Description |
Software Publishers |
| (817) 348-8717 |
Employees |
30 |
| http://www.vcsy.com/ |
Revenue |
(mil) |
6.2290 |
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Income |
(mil) |
-2.3280 |
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Assets |
(mil) |
1.2810 |
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Liability |
(mil) |
18.1920 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
Vertical Computer Systems, Inc.'s consolidated balance sheet at June 30, 2007, showed $1.0 million in total assets and $19.7 million in total liabilities, resulting in an $18.7 million total stockholders' deficit. The Company's consolidated balance sheet at June 30, 2007, also showed strained liquidity with $923,456 in total current assets available to pay $13.1 million in total current liabilities. The Company reported a net loss of $268,987 on total revenues of $1.4 million for the second quarter ended June 30, 2007, compared with a net loss of $440,187 on total revenues of $1.6 million for the same period last year.
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Intellectual Property:
The Company relies upon a combination of contract provisions and patent, copyright, trademark and trade secret laws to protect proprietary rights in its products and services. Now Solutions, Inc.'s emPath® software technology is protected by copyright and trademark. The USPTO granted a patent (No. 6,718,103) for an invention for “Transmission of Images over a Single Filament Fiber Optic Cable” in April 2004. The USPTO also granted a patent (No. 6,826,744) for an invention for “System and Method for Generating Web Sites in an Arbitrary Object Framework” on November 30, 2004. This patent is the foundation of Vertical’s product, SiteFlash™, and forms the basis of the ResponseFlash™, NewsFlash™ and AffiliateFlash™ products. The USPTO granted a patent (No. 7,076,521) for an invention for a “Web-based collaborative data collection system” on July 11, 2006. This patent covers various aspects of the XML Enabler Agent. In addition, the Company has also filed for a patent related to the Emily® programming language. This patent application was published in February 2003 and is still pending. [SEC Filing 10-KSB 04-17-07]
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Description:
The Company provides administrative software services, Internet core technologies, and derivative software application products.
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Officers:
Richard S. Wade (Pres., CEO & Dir.); William K. Mills (Sec. & Dir.)
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Auditor:
Weaver & Tidwell LLP
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Securities:
Common Stock-Symbol VCSY.OB; OTC BB;
997,619,672 common shares outstanding as of August 17, 2007.
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