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Prospector
Profile
1020-04
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| Moller International, Inc. |
NAICS |
336411 |
| 1222 Research Park Drive
Davis, CA 95618 |
Description |
Aircraft Mfg. |
| (530) 756-5086 |
Employees |
7 |
| http://www.moller.com/ |
Revenue |
(mil) |
0.0820 |
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Income |
(mil) |
-2.6760 |
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Assets |
(mil) |
0.1570 |
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Liability |
(mil) |
9.4100 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Malone & Bailey PC raised doubts on the ability of Moller International, Inc. to continue as a going concern after auditing its financial statements. The Company has a net loss of $2,676,261 for fiscal 2007 and has an equity deficit of $9,252,494. It currently has no revenue-producing products and is continuing its development of products in both the Skycar and Rotary engine programs. Successful completion of product development activities for either or both of these programs will require significant additional sources of capital. Continuation as a going concern is dependent upon the Company’s ability to obtain additional financing sufficient to complete product development activities and provide working capital to fund the manufacture and sale of its products.
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Intellectual Property:
Moller created a high-performance, modular design engine using the Outboard Marine Corp. single-rotor engine. The Company added electronic fuel injection and thermal barrier coatings, and introduced unique seal, lubrication and cooling systems. In all, Moller has made more than 25 major engine design improvements, of which 8 are deemed patentable and 2 are patented and 1 is patent pending. The Company has 35 patent to protect its technology across the U.S., Canda, Europe, South Africa, Japan and Australia. The Company has also registered the trademarks Aerobot® and Skycar®. [SEC Filing 10-KSB 09-28-07]
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Description:
The Company engages in the design, development, manufacture, and marketing of a line of vertical take-off and landing aircraft.
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Officers:
Paul Moller (chiar); Faulkner White (Dir.); Jim Toreson (Dir.); Mike Shanley (Dir.)
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Auditor:
Malone & Bailey PC
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Securities:
Common Stock-Symbol MLER.OB; OTC BB;
45,684,334 common shares outstanding as of September 28, 2007.
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