Prospector
Profile
07.1481
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| Fuego Entertainment, Inc. |
NAICS |
711510 |
| 19250 NW 89th Court
Miami, FL 33018 |
Description |
Film Producers |
| (305) 829-3777 |
Employees |
0 |
| http://www.fuegoentertainment.net/ |
Revenue |
(mil) |
0.1840 |
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Income |
(mil) |
-0.5050 |
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Assets |
(mil) |
0.1920 |
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Liability |
(mil) |
0.4150 |
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(for the year ended 2007-05-31) |
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Category:
Audit Concerns
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Event:
Braverman International PC raised substantial doubt about the ability of Fuego Entertainment, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company has incurred significant losses during the two year period ended May 31, 2007, has a significant deficit in working capital and in Stockholders’ equity. Its ability to continue as a going concern is dependent upon its ability to develop additional sources of capital, and/or achieve profitable operations.
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Intellectual Property:
The Company has acquired publishing rights to music compositions managed by Sun Flower Publishing from which it may receive royalties for products sold as well as for songs played on radio and television which are licensed for soundtracks. The Company executed a licensing agreement with Ciocan Entertainment & Music Group whereby Fuego has licensed the Ciocan music library for the payment of a 25% royalty based on net sales. [SEC Filing 10-KSB 09-27-07]
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Description:
The Company engages in the direction, production, marketing, and distribution of entertainment products, including short films, documentaries, television shows, music, and tour productions.
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Officers:
Hugo M. Cancio (Pres., Sec., Treas. & Dir.)
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Auditor:
Braverman International PC
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Securities:
Common Stock-Symbol FUGO.OB; OTC BB;
36,639,353 common shares outstanding as of May 31, 2007.
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