 |
Prospector
Profile
07.1512
|
| |
| MangoSoft, Inc. |
NAICS |
334210 |
| 12 Technology Way
Nashua, NH 03062 |
Description |
Telecommunications Equipment Mfg. |
| (603) 324-0400 |
Employees |
1 |
| http://www.mangosoft.com/ |
Revenue |
(mil) |
0.2750 |
| |
Income |
(mil) |
0.1250 |
| |
Assets |
(mil) |
0.1460 |
| |
Liability |
(mil) |
0.3630 |
| |
(for the year ended 2006-12-31) |
| |
|
Category:
Audit Concerns
|
| |
|
Event:
Stowe & Degon raised doubts on the ability of MangoSoft, Inc. to continue as a going concern after auditing its financial statements. The Company has a history of substantial operating losses and an accumulated deficit of $88,944,248 as of December 31, 2006. For the years ended December 31, 2006 and 2005, the auditor notes that losses from operations were $555,806, and $363,961, respectively. The Company has historically experienced cash flow difficulties primarily because expenses have exceeded revenues. It also expects to incur additional operating losses.
|
| |
|
Intellectual Property:
To date, the Company has been granted five patents and has applied for five additional U.S. patents, which applications are still pending. The patents cover aspects of its peer-to-peer clustering technology, Cachelink and Mangomind. It also has filed patent applications outside of the U.S. that are counterparts to the issued patents and pending applications. It also owns trademarks on “Cachelink,” “Medley,” “Mango,” and “MangoSoft.” In addition, the Company also owns service marks on “Mangomind,” “fileTRUST” and “the Business Internet File Service.” The Company considers elements of software and peer-to-peer clustering technology to be proprietary. The Company also relies on a combination of trade secrets, copyright and trademark law, contractual provisions, confidentiality agreements, and certain technology and security measures to protect intellectual property, proprietary technology and know-how. The Company licenses encryption software from a leading e-security software provider. This encryption software allows multiple users to more securely transmit, share and store files via the Mangomind service. [SEC Filing 10-KSB 10-11-07]
|
| |
|
Description:
The Company engages in the marketing, sale, and support of Internet business software and services for Internet-based business applications.
|
| |
|
Officers:
Dale Vincent (Chair, Pres. & CEO)
|
| |
|
Auditor:
Stowe & Degon
|
| |
|
Securities:
Common Stock-Symbol MGOF.OB; OTC BB;
3,413,038 common shares outstanding as of March 30, 2007.
|
| |
| |
| |
| return to main page |
|
|
