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Prospector
Profile
07.1599
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| Intermost Corp. |
NAICS |
511210 |
| B31-23 Guomao Bldg., Renmin Rd.
Shenzhen, China 518001 |
Description |
Software Publishers |
| 86-755-822-10238 |
Employees |
37 |
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Revenue |
(mil) |
4.6800 |
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Income |
(mil) |
-3.0900 |
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Assets |
(mil) |
15.8850 |
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Liability |
(mil) |
5.7180 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Samuel H. Wong & Co. LLP raised substantial doubt about the ability of Intermost Corp. to continue as a going concern after auditing its financial statements. The auditor points out that the Company has suffered recurring losses from operations and has a significant accumulated deficit. In addition, the Company continues to experience negative cash flows from operations. The Company had a net loss of $3,090,547 on revenues of $4,680,532 for the year ended June 30, 2007, compared to a net loss of $2,117,200 on revenues of $12,319,459 for the year ended June 30, 2006. The Company's balance sheet at June 30, 2007 showed an accumulated deficit of $13,391,999.
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Intellectual Property:
The Company relies on patent protection, as well as trademark and copyright law, trade secret protection and confidentiality agreements with employees and others to protect intellectual property. It has filed 11 patent applications with the United States Patent and Trademark Office and intends to file more. Of the patent applications, 6 patents have been granted. [SEC Filing 10-KSB 10-26-07]
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Description:
The Company's principal activity is to provide E-commerce solutions, development of software, provision of consultation services and sales of photographic equipment in China.
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Officers:
Rocky Wulianghai (Pres., CEO & Dir.); Thomas Lee (CFO); Fred Peck (Dir.); Chia Hsun Wu (Dir.); Wilbert Kam (Dir.); Catalina Chan (Dir.); Shim Yang (Dir.); Deng Xiang Xiong (Dir.)
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Auditor:
Samuel H. Wong & Co. LLP
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Securities:
Common Stock-Symbol IMOT.OB; OTC BB;
215,370,278 common shares outstanding as of September 9, 2007.
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