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Prospector
Profile
07.1404
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| Precision Optics Corporation, Inc. |
NAICS |
339113 |
| 22 East Broadway
Gardner, MA 01440 |
Description |
Medical Instruments Mfg. |
| (978) 630-1800 |
Employees |
35 |
| http://www.poci.com/index.php |
Revenue |
(mil) |
2.4770 |
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Income |
(mil) |
-2.8890 |
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Assets |
(mil) |
3.0350 |
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Liability |
(mil) |
0.7180 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Vitale Caturano & Company Ltd. raised
substantial doubt about Precision Optics Corporation, Inc.'s ability to continue as a going concern after auditing the Company's financial statements for the years ended June 30, 2007. The auditing firm pointed to the Company's recurring net losses and negative cash flows from operations. For the year ended June 30, 2007, the Company reported a $2,889,829 net loss on $2,477,469 of revenues.
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Intellectual Property:
The Company plans to file for patents, copyrights, and trademarks in the United States and in appropriate countries to protect its intellectual property rights. The Company holds the rights to several United States and foreign patents and has several patent applications pending, including for its new generation of 3-D endoscopes, its leading Lenslock™ endoscope technology, and its innovative micro-precision™ lens technology. [SEC Filing 10-KSB 09-28-07]
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Description:
The Company engages in the design and production of medical instruments, optical thin film coatings, micro-optics, and other optical systems.
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Officers:
Richard E. Forkey (Chair, Pres., CEO & Treas.); Joseph N. Forkey (EVP & Chief Scientific Officer); Michael T. Pieniazek (VP & CFO); Donald A. Major (Dir.); Joel R. Pitlor (Dir.); Richard Miles (Dir.)
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Auditor:
Vitale Caturano and Company Ltd.
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Securities:
Common Stock-Symbol POCI.OB; OTC BB;
25,458,212 common shares outstanding as of August 31, 2007.
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