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Prospector
Profile
07.1525
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| Wavelit, Inc. |
NAICS |
518210 |
| #150 - 1152 Mainland Street
Vancouver, British Columbia, Canada V6B 4X2 |
Description |
Video Streaming Services |
| (604) 484-4966 |
Employees |
0 |
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Revenue |
(mil) |
0.7090 |
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Income |
(mil) |
-1.8930 |
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Assets |
(mil) |
0.6670 |
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Liability |
(mil) |
1.7520 |
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(for the year ended 2007-04-30) |
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Category:
Audit Concerns
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Event:
Mendoza Berger & Company LLP raised doubts on the ability of Wavelit, Inc. to continue as a going concern after auditing its financial statements. The auditor points out that the Company continues to incur significant losses totalling $3,979,514 as of April 30, 2007. The Company’s viability is dependent upon its ability to obtain future financing and the success of its future operations.
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Intellectual Property:
Wavelit's products and services incorporate 3rd Generation streaming video technology and proprietary software. Using a mix of the latest leading vendor software and proprietary coding, the Galaxy Encoder allows for push streaming of real time broadcasts and does not require a stream be uploaded to a server and then pulled, or accessed, by viewers. The Galaxy Media Server incorporates a storage, management, and distribution system and proprietary software to control the hardware platform with Galaxy's encoder software. [SEC Filing 10-KSB 09-14-07]
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Description:
The Company provides video streaming capabilities that allow a TV quality signal to be sent over the Internet or stored locally.
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Officers:
Kent Vaesen (Sec., Treas. & Dir.)
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Auditor:
Mendoza Berger & Company LLP
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Securities:
Common Stock-Symbol WAVL.OB; OTC BB;
5,383,069 common shares outstanding as of August 31, 2007.
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