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Prospector
Profile
1022-08
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| Veritec, Inc. |
NAICS |
561499 |
| 2445 Winnetka Avenue North
Golden Valley, MN 55427 |
Description |
Business Support Services |
| (763) 253-2670 |
Employees |
9 |
| http://www.veritecinc.com/ |
Revenue |
(mil) |
2.2100 |
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Income |
(mil) |
-0.2600 |
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Assets |
(mil) |
1.1200 |
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Liability |
(mil) |
0.4600 |
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(for the year ended 2007-06-30) |
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Category:
Loss/Deficit
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Event:
Veritec, Inc. had a net loss of $261,203 on revenues of $2,205,566 for the year ended June 30, 2007, compared to a net income of $10,112,971 on revenues of $2,326,484 during the previous fiscal year. Last year's results were bouyed by a $9,356,948 gain on settlement with creditors. The Company's balance sheet showed an accumulated deficit of $12,870,993 and only $663,018 in stockholders' equity.
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Intellectual Property:
The Company has three patents registered with the United States Patent and Trademark Office (Patent No. 4,924,078 ; 5,612,524 5,331,176). Veritec has filed for additional U.S. patents related to novel uses of the Matrix Symbologies. The Company also holds the two European Patents (Germany Patent No. 69033621.7; French and Great Britain Patent No. 0438841). The Company has filed applications to register the trademark "VeriSecure" in the United States. It has also filed applications to register the trademark "VSCode" in Australia, Taiwan, South Korea, Singapore, Japan, China, and Vietnam. In addition, the Company has filed applications to register VeriCode® in China, Singapore, Vietnam, and Australia. The Company has registered trademarks for VeriCode® in the United States, Taiwan and South Korea. The Company uses the following copyrights: VeriWrite©, VeriRead©, VSWrite©, VSRead©, PhoneCode©, TicketCode©, GiftCode©, CouponCode©, ReceiptCode© and VotingCode©. [SEC Filing 10-KSB 09-28-07]
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Description:
The Company engages in the development, marketing, and sale of a line of microprocessor based encoding and decoding systems that utilize Matrix Symbology, a two-dimensional barcode technology.
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Officers:
Van Thuy Tran (CEO, Treas., Sec. & Dir.); Larry Matthews (Dir.); Dean Westberg (Dir.)
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Auditor:
Lurie Besikof Lapidus & Company LLP
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Securities:
Common Stock-Symbol VRTC.PK; Other OTC;
15,096,088 common shares outstanding as of June 30, 2007.
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