Prospector
Profile
07.1517
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| Plaintree Systems, Inc. |
NAICS |
511210 |
| 90 DeCosta St.
Arnprior, Ontario, Canada K7S 3X1 |
Description |
Software Publishers |
| (613) 623-3434 |
Employees |
7 |
| http://www.plaintree.com/ |
Revenue |
(mil) |
2.1620 |
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Income |
(mil) |
0.9690 |
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Assets |
(mil) |
5.9110 |
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Liability |
(mil) |
7.3290 |
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(for the year ended 2007-03-31) |
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Category:
Default
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Event:
Plaintree Systems, Inc. leased facilities from a company controlled by Targa Group, Inc. Lease arrears including interest of $80,971 owing to this related party amounted to $299,779. In 2003, this related party entered into a forbearance agreement whereby the Company agreed to repay the amounts owing and the related party was provided with a security interest in the form of a mortgage on the property owned by the Company. The forbearance agreement is now in default and the amounts owing are due and payable.
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Intellectual Property:
The Company principally relies on copyright, trade secret and contract law to protect its proprietary technologies. The Company believes that the rapid pace of technological change in this industry makes patent protection less significant than factors such as the knowledge, ability and experience of the Company’s employees, frequent product enhancements, and the timeliness and quality of support services provided by the Company. It also has registered trademarks in Canada and the United States. [SEC Filing 20-F/A 10-11-07]
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Description:
The Company designs, develops and manufactures a series of infrared optical wireless transmission links.
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Officers:
William David Watson (Chair & VP); William David Watson II (Pres., CEO & Dir.); Lynn E. Saunders (VP); Jason Lee (VP); Robert G. Shea (Dir.); Jerry Vickers (Dir.); John Buchanan (Dir.); Girvan L. Patterson (Dir.)
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Auditor:
Deloitte & Touche LLP
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Securities:
Common Stock-Symbol LANPF.OB; OTC BB;
90,221,634 common shares outstanding as of March 31, 2007.
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