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Prospector
Profile
1116-02
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| Cognigen Networks, Inc. |
NAICS |
519130 |
| 6405 218th Street SW, Suite 305
Mountlake Terrace, WA 98043 |
Description |
Internet Sites |
| (425) 329-2300 |
Employees |
4 |
| http://ld.net/ |
Revenue |
(mil) |
5.6190 |
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Income |
(mil) |
-0.6800 |
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Assets |
(mil) |
1.0150 |
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Liability |
(mil) |
2.3160 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Ehrhardt Keefe Steiner & Hottman PC raised substantial doubt about Cognigen Networks, Inc.'s ability to continue as a going concern after auditing its financial statements. The Company had a net loss of $720,228 on revenues of $5,619,892 for the year ended June 30, 2007, lower than the $1,348,483 net loss on $6,245,275 in revenues reported during the previous year. The Company's balance sheet at June 30, 2007, showed an accumulated deficit of $13,943,461 and total stockholders' deficit of $1,301,379. It also has strained liquidity with $838,092 in total current assets available to pay $2,315,234 in total current liabilities.
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Intellectual Property:
The Company uses a network of independent agents and affiliate groups, each utilizing their own customized website, replicated from its main www.ld.net website, through the use of proprietary software and technology, to sell third party or outside vendor products and services to customers and subscribers worldwide. [SEC Filing 10-KSB 10-15-07]
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Description:
The Company operates as an Internet and relationship enabled marketing company.
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Officers:
Gary L. Cook (CEO, CFO & Dir.); David L. Cook (Dir.); George Rebensdorf (Dir.); Christopher R. Seelbach (Dir.); James Shapiro (Dir.)
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Auditor:
Ehrhardt Keefe Steiner & Hottman PC
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Securities:
Common Stock-Symbol CGNW.OB; OTC BB;
9,847,174 common shares outstanding as of September 30, 2007.
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