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Prospector
Profile
1113-02
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| AFV Solutions, Inc. |
NAICS |
336322 |
| 4695 MacArthur Court, 11th Floor
Newport Beach, CA 92660 |
Description |
Fuel Systems Manufacturing |
| (949) 798-5541 |
Employees |
9 |
| http://www.afvsolutions.com |
Revenue |
(mil) |
0.1110 |
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Income |
(mil) |
-3.5900 |
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Assets |
(mil) |
1.6750 |
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Liability |
(mil) |
0.5480 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Weaver & Martin LLC raised substantial doubt about AFV Solutions, Inc.'s ability to continue as a going concern after auditing its financial statements for the year ended June 30, 2007. The auditing firm points out that the Company has suffered losses from inception. The Company reported a net loss of $3,621,460 for the year ended June 30, 2007, compared with a net loss of $2,084,295 for the year ended June 30, 2006. The Company also has an accumulated deficit of $8,716,702 as of June 30, 2007.
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Intellectual Property:
The Company owns, as a result of an IP Agreement, the trademark Bed & Biscuit Inn™, which is registered with the United States Patent and Trademark Office. [SEC Filing 10KSB 10-15-2007]
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Description:
AFV Solutions, Inc. operates as an alternative fuel vehicle solutions provider in the US. The company focuses on the manufacture of propane, natural gas, hydrogen, and electrical conversion kits for trucks, automobiles, and industrial equipment. It also involves in the brokerage of hybrid electric, compressed natural gas, and liquid petroleum gas buses manufactured in China.
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Officers:
Richard Steele (Chair); Carlos Zalduondo (CEO, COO, Pres. & Dir.); Suzanne Herring (CFO); Alexander Leon (Dir);
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Auditor:
Weaver & Martin LLC
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Securities:
Common Stock-Symbol AFVS.OB; OTC BB;
23,045,300 common shares outstanding as of October 12, 2007.
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Notes:
All of the Company's current revenues are generated through Bed & Biscuit Inn(TM). The Company has discontinued its previous plan of expanding the upscale pet care facilities and decided to focus on the alternative fuel and brokerage transportation industry.
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