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Prospector
Profile
07.1470
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| American Southwest Music Distribution, Inc. |
NAICS |
512230 |
| 8721 Sunset Boulevard, Penthouse 7
Hollywood, CA 90069 |
Description |
Music Publishers |
| (310) 659-8770 |
Employees |
2 |
| http://www.aswmd.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-6.7440 |
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Assets |
(mil) |
0.3460 |
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Liability |
(mil) |
3.2000 |
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(for the year ended 2007-04-30) |
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Category:
Loss/Deficit
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Event:
American Southwest Music Distribution, Inc. had a net loss of $1,023,705 for the three months ended July 31, 2007, much higher than the $284,199 net loss booked in the same quarter last year. As a result of its recurring losses, the Company has an accumulated deficit of $11,233,756, stockholders’ deficit of $2,942,246 and working capital deficit of $3,280,680.
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Intellectual Property:
The Company entered into rights acquisition, licensing, distribution and recording agreements with artists, third party record labels and production companies to provide the Company with master recordings that have not been previously released for sale to consumers. Through each Recording Agreement, the Company acquired the worldwide copyright and exclusive right to distribute and license music products derived from the New Masters that will be recorded and produced by the Labels. The Company also acquired the exclusive right to record and market all New Masters of the recording artist(s) featured on any and all New Masters recorded by the Labels during the term of the Recording Agreements. [SEC Filing 10-KSB 08-14-07]
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Description:
The Company engages in the production, acquisition, marketing, and sale of pre-recorded music in the United States.
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Officers:
David Michery (Pres., CEO & Dir.); Kent Puckett (CFO, Sec., Treas. & Dir.)
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Auditor:
KBL LLP
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Securities:
Common Stock-Symbol ASWD.OB; OTC BB;
31,047,522 common shares outstanding as of September 19, 2007.
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