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Prospector
Profile
07.1432
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| Warp9, Inc. |
NAICS |
511210 |
| 50 Castilian Dr., Suite 101
Santa Barbara, CA 93117 |
Description |
Software Publishers |
| (805) 964-3313 |
Employees |
13 |
| http://www.warp9inc.com/ |
Revenue |
(mil) |
2.7370 |
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Income |
(mil) |
-0.0130 |
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Assets |
(mil) |
1.0060 |
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Liability |
(mil) |
1.8760 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
HJ Associates & Consultants LLP raised substantial doubt about Warp 9, Inc.'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 reported that the Company
has suffered recurring losses from operations and recurring negative cash flows from operations. The company posted a $13,533 net loss on $2,737,009 of total revenue for the year ended June 30, 2007, as compared with a
$2,164,352 net loss on $1,757,685 of total revenue in the prior year. At June 30, 2007, the company's balance sheet showed $1,006,532 in total assets and $1,876,311 in total liabilities, resulting a $869,779 stockholders' deficit.
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Intellectual Property:
The Company's intellectual property portfolio consists of one registered patent and three patent applications pending, which primarily relate to the Roaming Messenger technology. The patents protect its self-contained business transaction capsule (eCapsule); a method transmitting a virtual machine in a mobile agent to assist instruction execution; instructions executable on a device that receives a mobile agent; and method and system in which terminals, appliances and machines without dedicated Internet connections can complete Internet-based transactions by piggy-backing on the connection of the user's handheld device. [SEC Filing 10-KSB 10-04-07]
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Description:
The Company provides e-commerce platforms and services for the catalog and retail industry.
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Officers:
Jonathan Lei (Chair, Pres., CEO, CFO & Sec.); Louie Ucciferri (Dir.)
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Auditor:
HJ Associates & Consultants LLP
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Securities:
Common Stock-Symbol WNYN.OB; OTC BB;
245,282,938 common shares outstanding as of September 25, 2007.
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