 |
Prospector
Profile
07.1395
|
| |
| Manaris Corporation |
NAICS |
334413 |
| 1155 Rene-Levesque West, Suite 2720
Montreal, Quebec, Canada H3B 2K8 |
Description |
Sensors Mfg. |
| (514) 337-2447 |
Employees |
146 |
| http://www.manariscorp.com |
Revenue |
(mil) |
18.7400 |
| |
Income |
(mil) |
-2.3700 |
| |
Assets |
(mil) |
18.1900 |
| |
Liability |
(mil) |
9.4600 |
| |
(for the year ended 2007-06-30) |
| |
|
Category:
Audit Concerns
|
| |
|
Event:
Raymond Chabot Grant Thornton LLP raised substantial doubt about Manaris Corp.'s ability to continue as a going concern after auditing the company's consolidated financial statements for the year ended June 30, 2007. The auditor pointed to the company's significant losses since inception and reliance on non-operational sources of financing to fund operations. For the year ended June 30, 2007, the company reported a $2,370,754 net loss on $18,740,561 of revenues, as compared with an $11,902,443 net loss on $10,498,505 of revenues for the year ended June 30, 2006. At June 30, 2007, the company's balance sheet showed $18,193,489 in total assets, $9,458,397 in total liabilities, $23,193 in non-controlling interest, and $8,711,899 in total stockholders' equity.
|
| |
|
Intellectual Property:
The Company's Avensys Tech has a license to patents owned by ITF Labs, its partly owned R&D facility, as well as by external organizations such as the CRC (Communication Research Center of Canada) and UTC (United Technologies Corporation), to produce optical components and modules. In addition to its own intellectual property, Avensys benefits from over 29 inventions for which ITF Labs holds patents, and will benefit from another 9 inventions for which patents are pending. [SEC Filing 10-KSB 09-28-07]
|
| |
|
Description:
Manaris is a holding company that operates through its subsidiaries: Avensys, Inc. and C-Chip Technologies Corp. Avensys develops optical components and sensors and provides environmental monitoring solutions. C-Chip offers products and services to the credit management markets.
|
| |
|
Officers:
John Simons (Chair); John G. Fraser (Pres., CEO & Interim CFO); Jos J. Wintermans (Dir.); Bernard Bougie (Dir.); Marc Bouchard (Dir.); John H. Simons (Dir.)
|
| |
|
Auditor:
Raymond Chabot Grant Thornton LLP
|
| |
|
Securities:
Common Stock Symbol MANS.OB; OTC BB;
93,437,654 common shares outstanding as of June 30, 2007.
|
| |
| |
| |
| return to main page |
|
|
