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Prospector
Profile
07.1298
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| Water Chef, Inc. |
NAICS |
333319 |
| 68 South Service Road, Suite 100
Melville, NY 11747 |
Description |
Water Purifier Mfg. |
| (631) 577-7915 |
Employees |
2 |
| http://www.waterchef.net/index.php |
Revenue |
(mil) |
0.1150 |
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Income |
(mil) |
-2.0720 |
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Assets |
(mil) |
0.1420 |
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Liability |
(mil) |
3.7670 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Marcum & Kliegman LLP raised doubts on the ability of Water Chef, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company incurred a net loss of $2,072,917 and $1,168,328 for the years ended December 31, 2006 and 2005, respectively. The Company has a working capital deficit and a stockholders' deficiency of approximately $3,123,219 and $3,625,725 at December 31, 2006, respectively.
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Intellectual Property:
The Company filed for patent protection on its PureSafe Water Station in October of 1998 and received formal notification that the patent had been issued on February 19, 2002. In addition to its U.S. patent, the Company has filed for patent protection in the countries of the European Union, and in Canada, Mexico, China, Hong Kong, Korea and Japan. In January 2006, the Chinese State Intellectual Property Office granted the patent rights for the invention, and, in September 2006, WaterChef was advised by patent counsel that the European Patent Office had decided to grant its patent for the European Union. The name PureSafe Water Station and the stylized water droplet mark have been trademarked in the United States. [SEC Filing 10-KSB 03-30-07]
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Description:
The Company engages in the design, marketing, and sale of water dispensers and purification equipment in the United States and internationally.
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Officers:
David A. Conway (Chair, Pres., CEO & CFO); John J. Clarke (Dir.); Ronald W. Hart (Chair - Scientific Advisory Board); Marshall S. Sterman (Dir.)
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Auditor:
Marcum & Kliegman LLP
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Securities:
Common Stock-Symbol WTER.OB; OTC BB;
190,191,843 common shares outstanding as of August 7, 2007.
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