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Prospector
Profile
07.1488
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| Pacific WebWorks, Inc. |
NAICS |
511210 |
| 180 South 300 West, Suite 400
Salt Lake City, UT 84101 |
Description |
Software Publishers |
| (801) 578-9020 |
Employees |
19 |
| http://www.pacificwebworks.com/ |
Revenue |
(mil) |
4.2990 |
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Income |
(mil) |
-1.0260 |
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Assets |
(mil) |
2.7460 |
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Liability |
(mil) |
0.5790 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
Pacific WebWorks, Inc. reported a net loss of $1,026,433 on revenues of $4,299,681 for the fiscal year ended December 31, 2006, much higher than the $295,873 net loss on revenues of $5,258,908 reported during the previous fiscal year. As a result of its recurring losses, the Company has an accumulated deficit of $14,049,333 and only $4,819 in working capital.
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Intellectual Property:
The Company's ability to compete effectively will depend upon the ability to protect proprietary source codes for Visual WebTools™ and the IntelliPay payment system through a combination of licenses and trade secrets. The Company seeks to protect trade secrets and proprietary knowledge in part through confidentiality agreements with employees, resellers, and collaborators. The Company also relies on certain technology licensed from third parties, including software which is integrated with internally developed software and used in its software to perform key functions. [SEC Filing 10-KSB/A 09-26-07]
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Description:
The Company engages in the development and distribution of Web tools software, electronic business storefront hosting, and Internet payment systems for individuals and small to mid-sized businesses primarily in the United States.
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Officers:
Kenneth W. Bell (Chair, CEO, CFO, Treas. & Dir.); Christian R. Larsen (Pres. & Dir.); R. Brett Bell (Sec. & Treas.)
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Auditor:
Chisholm Bierwolf & Nilson LLC
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Securities:
Common Stock-Symbol PWEB.OB; OTC BB;
36,026,895 common shares outstanding as of September 10, 2007.
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