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Prospector
Profile
1119-04
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| TRB Systems International, Inc. |
NAICS |
336991 |
| 1472 Cedarwood Drive
Piscataway, NJ 08854 |
Description |
Bicycles Mfg. |
| (877) 852-3600 |
Employees |
18 |
| http://www.trbsystems.com/ |
Revenue |
(mil) |
0.3170 |
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Income |
(mil) |
-0.2770 |
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Assets |
(mil) |
3.0050 |
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Liability |
(mil) |
3.6170 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Stan J.H. Lee CPA raised doubts on the ability of TRB Systems International, Inc. to continue as a going concern after auditing its financial statements due to its significant operating losses. The Company had a net loss of $277,389 for the year ended June 30, 2007, compared to a net loss of $134,818 reported during the previous fiscal year. As a result of its recurring losses, the Company has an accumulated deficit of $3,864,648 and shareholders' deficit of $612,138 as of June 30, 2007. It also has strained liquidity with $2,351,820 in total current assets available to pay $2,793,274 in total current liabilities.
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Intellectual Property:
ABL Properties Co., owns patents of the Natural Motion Technology (NMT) which covers the speed change and/or propulsion mechanism of NMT. ABL has patents pending from the U.S., China, India, Australia, Taiwan, Japan, and Korea, Europe and Brazil. The Company has exclusive worldwide licensing rights under all NMT patents, except for Taiwan and South Korea. [SEC Filing 10-KSB 10-22-07]
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Description:
The Company engages in the development, manufacture, and marketing of bicycles, exercise bicycles, electric bicycles, and wheelchair.
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Officers:
Marn T. Seol (Vice Chair); Byung D. Yim (Pres., CEO, CFO & Dir.); August Rheem (VP & Dir.); Joon Ki Moon (Sec.)
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Auditor:
Stan J.H. Lee CPA
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Securities:
Common Stock-Symbol TRBX.OB; OTC BB;
23,699,922 common shares outstanding as of October 22, 2007.
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