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Prospector
Profile
1108-03
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| Connected Media Technologies, Inc. |
NAICS |
519130 |
| 80 SW 8th Street, Suite 2230
Miami, FL 33130 |
Description |
Internet Sites |
| (786) 425-0028 |
Employees |
14 |
| http://www.connectedmedia.com/ |
Revenue |
(mil) |
0.4460 |
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Income |
(mil) |
-17.4860 |
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Assets |
(mil) |
0.7070 |
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Liability |
(mil) |
4.0040 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Salberg & Company PA raised doubts on the ability of Connected Media Technologies, Inc. to continue as a going concern after auditing its financial statements. The auditor notes that the Company has an accumulated deficit of $17,068,859, stockholders’ deficit of $3,297,062 and working capital deficit of $3,872,558 at December 31, 2006. In addition, the Company has a net loss and cash used in operations of $17,486,292 and $492,848, respectively, for the year ended December 31, 2006.
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Intellectual Property:
Through the license agreement with Rothschild Trust Holdings LLC, the Company is the exclusive licensee of United States Patent #6,101,534, "Interactive, Remote, Computer Interface System," and a second patent, "A Media Validation System," U.S. Patent No. 6,952,697. The company also has certain exclusive rights to several additional patent applications filed with the United States Patent and Trademark Office. In general, the claims of the patent relate to technology that allows multimedia content stored on a removable local media (including, but not limited to CD-ROM and DVD-ROM discs) to be "controlled" or "released" for access by the user by visiting a related website on the Internet. [SEC Filing 10-KSB 04-17-07]
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Description:
The Company operates as a digital media and content provider in the United States and internationally.
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Officers:
Rafael Diaz-Balart (Chair); Robert Rodriguez (Vice-Chair); Jeffrey W. Sass (CEO & Dir.); Isidrio Gonzalez (Pres. & Dir.); Mark Mayo (CFO & Dir.)
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Auditor:
Salberg & Company PA
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Securities:
Common Stock-Symbol CNCM.PK; Other OTC;
641,907,436 common shares outstanding as of March 31, 2007.
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