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Prospector
Profile
1001-02
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| Emta Holdings, Inc. |
NAICS |
325199 |
| 7430 East Butherus Drive, Suite C
Scottsdale, AZ 85260 |
Description |
Fuel Additives Mfg. |
| (480) 222-6222 |
Employees |
12 |
| http://www.emtacorp.com/ |
Revenue |
(mil) |
1.0530 |
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Income |
(mil) |
-17.0560 |
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Assets |
(mil) |
3.5910 |
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Liability |
(mil) |
6.3900 |
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(for the year ended 2007-03-31) |
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Category:
Loss/Deficit
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Event:
Emta Holdings, Inc. reported total assets of $3.5 million and total liabilities of $7.0 million at June 30, 2007, resulting in a $3.5 million total stockholders' deficit. This compares with a total stockholders' deficit of $2.8 million at March 31, 2007. The Company's consolidated balance sheet at June 30, 2007, further showed strained liquidity with $792,562 in total current liabilities available to pay $7.0 million in total current liabilities. The company incurred a net loss of $832,808 for the first quarter ended June 30, 2007, compared with a $14.3 million net loss reported for the first quarter of fiscal 2007. Results for the first quarter of fiscal 2007 included a $14.0 million expense in conjunction with the curing of the
default on the convertible notes. Net sales for the three months ended June 30, 2007 were $666,724, an increase of $149,471, or 29.0%, from the three months ended June 30, 2007.
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Intellectual Property:
The formula and composition of its XenTx product is proprietary and is safeguarded from disclosure through secrecy agreements with various parties. At least one of the components of the formula is covered by a patent that is owned by Dover Chemical Corporation. In addition, the Company has filed provisional patents on both diesel fuel additives as the first step in patenting both formulas. The Company has obtained trademark registration of the marks XenTx and Clean Boost. With the acquisition of Dyson Properties, Inc., the Company acquired both the trademark for Synergyn and all of the related formulas. [SEC Filing 10-KSB 08-15-07]
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Description:
The Company engages in the research, development, manufacture, and distribution of gasoline, oil, and diesel additives for engines and other transportation-related fluids and industrial lubricants.
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Officers:
Edmond Lonergan (Chair, Pres. & Sec.); James Marshall (CFO & Dir.); Kenneth Bennett (VP & Dir.); Edward Miller (Dir.); Pat Choate (Dir.)
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Auditor:
Semple Marchal & Cooper LLP
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Securities:
Common Stock-Symbol EMHD.OB; OTC BB;
40,696,004 common shares outstanding as of July 20, 2007.
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