Prospector
Profile
07.1411
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| Aquamer, Inc. |
NAICS |
339112 |
| 68 Phillips Beach Avenue
Swampscott, MA 01907 |
Description |
Medical Instrument Mfg. |
| (781) 389-9703 |
Employees |
0 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-0.0430 |
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Assets |
(mil) |
0.1740 |
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Liability |
(mil) |
0.2230 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Michael F. Cronin expressed doubts on the ability of Aquamer, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company has experienced net operating losses since inception totaling approximately $528,000.
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Intellectual Property:
The bulking agent is created under two patents owned by Partners in Biomaterials Inc., an independent third party based in California. Partners has granted the Company a worldwide perpetual license to the patents related to creation of the bulking agent and related intellectual property for use in its field of business. The patents expire on May 26, 2009 and July 10, 2010. The Patent License Agreement also provides the Company the opportunity to obtain rights to any improvements made by Partners, as it relates to products for use in its business. [SEC Filing 10-KSB 04-16-07]
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Description:
The medical device company is focused on the development and commercialization of three injectable biocompatible products.
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Officers:
Marshall Sterman (Pres., CEO, CFO & Dir.); Steven Preiss (Dir.)
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Auditor:
Michael F. Cronin
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Securities:
28,504,176 common shares outstanding as of August 17, 2007.
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