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Prospector
Profile
1203-05
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| TrueYou.com, Inc. |
NAICS |
446120 |
| Bldg. No. 501, 5th Fl., 7 Corporate Park
Norwalk, CT 06851 |
Description |
Cosmetics Retailer |
| (203) 295-2121 |
Employees |
555 |
| http://www.klinger.com/ |
Revenue |
(mil) |
0.0030 |
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Income |
(mil) |
124.9000 |
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Assets |
(mil) |
15.2950 |
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Liability |
(mil) |
86.7670 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Amper Politziner & Mattia PC, raised substantial doubt about the ability of TrueYou.Com, Inc., to continue as a going concern after auditing the company's consolidated financial statements for the year ended June 30, 2007. The auditing firm pointed to the company's incurred operating losses and negative cash flows from operations since inception, and working capital deficit. The company posted a net income of $122,428,000 on $3,596,000 of net revenues for the year ended June 30, 2007, as compared with a net loss of 171,705,000 on $2,678,000 of net revenues in the prior year. The income reported was due to a $206,067,000 gain on convertible securities. At June 30, 2007, the company's balance sheet showed $15,295,000 in total assets and $86,767,000 in total liabilities, resulting in stockholders' deficit of $71,472,000. The company's consolidated balance sheet at June 30, 2007, also showed strained liquidity with $13,879,000 in total current assets available to pay $86,767,000 in total current liabilities.
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Intellectual Property:
The Company considers trademark protection to be important to its business. The Company is the owner of two remaining U.S. and foreign trademark applications/registrations for Cosmedicine and Truth is Beauty. [SEC Filing 10-K 11-20-07]
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Description:
TrueYou.com, Inc. offers skin care products for the beauty and medical aesthetics markets. Klinger Advanced Aesthetics, Inc. was established in 2003.
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Officers:
Richard Rakowski (Chair); James O'Crowley III (CEO & Dir.); Matthew Burris (COO, & CFO); Jane Terker (EVP, Chief Marketing Officer & Dir.); Alan Panzer (Dir.)
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Auditor:
Amper Politziner & Mattia PC
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Securities:
Common Stock-Symbol TUYU.PK; PNK;
18,388,557 common shares outstanding as of November 2, 2007.
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