Prospector
Profile
07.1520
|
| |
| Sovereign Exploration Associates International, Inc. |
NAICS |
488330 |
| 503 Washington Avenue, Suite 2D
Newtown, PA 18940 |
Description |
Marine Salvaging Services |
| (781) 246-7512 |
Employees |
5 |
| http://www.sea-int.com/ |
Revenue |
(mil) |
1.8600 |
| |
Income |
(mil) |
-0.7770 |
| |
Assets |
(mil) |
5.0250 |
| |
Liability |
(mil) |
6.5480 |
| |
(for the year ended 2007-06-30) |
| |
|
Category:
Audit Concerns
|
| |
|
Event:
Baumann Raymondo & Company PA raised substantial doubt about Sovereign Exploration Associates International, Inc.'s ability to continue as a going concern after auditing its financial statements. The Company has incurred an accumulated deficit of $19,850,000 and net losses of $777,000 for the fiscal year ended June 30, 2007.
|
| |
|
Intellectual Property:
The Company may realize returns from its intellectual property rights with respect to historically significant or interesting shipwrecks, such as the development and sale of documentaries and television specials, but these are expected to be no more than a secondary revenue source. In an initial use of the Company's intellectual property, the Company has entered into a media partnership with Principle Pictures, Inc., planning the creation of at least five television documentaries and a series of companion books, educational tools, and interactive websites. [SEC Filing 10-KSB 10-12-07]
|
| |
|
Description:
The Company generally seeks to identify and recover artifacts from historical shipwrecks dating from 1500 to 1900.
|
| |
|
Officers:
Peter Knollenberg (Chair); Robert D. Baca (Pres., CEO & Dir.); Curtis R. Sprouse (COO); Barry Gross (SVP & Sec.); James J. Cavan (VP); John J. Barr (Dir.); Kevin J. Conner (Dir.); Donald G. Conrad (Dir.)
|
| |
|
Auditor:
Baumann Raymondo & Company PA
|
| |
|
Securities:
Common Stock-Symbol SVXA.OB; OTC BB;
33,682,017 common shares outstanding as of September 17, 2007.
|
| |
| |
| |
| return to main page |
