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Prospector
Profile
1019-03
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| Studio One Media, Inc. |
NAICS |
512240 |
| 7650 East Evans Road, Suite C
Scottsdale, AZ 85260 |
Description |
Recording Studios |
| (480) 861-1183 |
Employees |
10 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-5.6300 |
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Assets |
(mil) |
1.7590 |
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Liability |
(mil) |
0.3850 |
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(for the year ended 2007-06-30) |
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Category:
Default
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Event:
During July and August of 2001, Studio One Media, Inc. borrowed $45,000 and issued a 14% convertible debenture for $25,000 due in October 2001 and issued a 12% convertible debenture for $20,000 due in February 2002. Both debentures were in default under the terms of the debenture agreement. The $20,000 debenture, together with all accrued interest thereon, was converted to equity in the year ended June 30, 2007. The Company continues to accrue interest on the remaining obligation.
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Intellectual Property:
The Company relies on a combination of patent, trademark, copyright and trade secret laws in the U.S. and other jurisdictions as well as confidentiality procedures and contractual provisions to protect its proprietary technology and brand. The Company also enters into confidentiality and invention assignment agreements with employees and consultants and confidentiality agreements with third parties, and it rigorously controls access to proprietary technology. The Company has embarked on an aggressive intellectual property program including the filing of 17 patent applications and 7 trademark applications with the U.S. Patent and Trademark Office all designed to protect what the Company believes is innovative and proprietary technology and applications derived from the extensive research and development program undertaken by its subsidiary, SO Entertainment. [SEC Filing 10-KSB 09-28-07]
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Description:
The Company engages in the development of entertainment-related businesses, including the concepts Celebrity Stores and Studio One Kiosks.
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Officers:
Barry M. Goldwater, Jr. (Chair); Preston J. Shea (Pres., CEO, Sec. & Dir.); Kenneth R. Pinckard (VP, CFO & Dir.); Shelly Yakus (VP); Matthew Long (VP)
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Auditor:
Moore & Associates Chartered
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Securities:
Common Stock-Symbol SOMD.OB; OTC BB;
11,362,739 common shares outstanding as of June 30, 2007.
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