 |
Prospector
Profile
1129-02
|
| |
| avVaa World Healthcare Products, Inc. |
NAICS |
325412 |
| Box 459, 1710 Shuswap Ave
Lumby, British Columbia, Canada V0E 2G0 |
Description |
Dermatological Products Mfg. |
| (250) 547-2048 |
Employees |
2 |
| http://www.avvaa.com/ |
Revenue |
(mil) |
0.0960 |
| |
Income |
(mil) |
-4.4700 |
| |
Assets |
(mil) |
0.6370 |
| |
Liability |
(mil) |
14.5520 |
| |
(for the year ended 2007-05-31) |
| |
|
Category:
Audit Concerns
|
| |
|
Event:
Davidson & Company LLP expressed doubts on the ability of avVaa World Healthcare Products, Inc. to continue as a going concern after auditing its financial statements. The auditor notes that the Company is dependent upon financing to continue operations, has suffered recurring losses from operations since inception, has a working capital deficit as of May 31, 2007, and has total liabilities that exceed its total assets. The Company had a net loss of $4,470,747 for the year ended May 31, 2007, much lower than the $10,500,563 net loss reported during the previous fiscal year. The Company has an accumulated deficit of $22,999,430 and stockholder's deficit of $13,914,814 as of May 31, 2007. It also has strained liquidity with $52,633 in total current assets available to pay $14,552,010 in total current liabilities.
|
| |
|
Intellectual Property:
On December 30, 2005, the Company and its subsidiary entered into a distribution agreement with the German inventor of the patented Neuroskin line of skin care products and two related German Companies. Pursuant to the new distribution agreement, the Company maintains its exclusive distribution rights to distribute the Neuroskin line of products in North America, Central America, South America, India, South East Asia, West Indies, Greater Antilles, Australia, Africa, China and Great Britain. The Neuroskin line of products is a patented, European line of skin care products used for the symptomatic treatment of diseases of the skin including eczema, psoriasis and acne. The patents and trademarks are owned by the German inventor and/or the German companies and are registered in various jurisdictions. [SEC Filing 10-KSB/A 11-02-07]
|
| |
|
Description:
The biotechnology company specializes in providing all natural, therapeutic skin care products.
|
| |
|
Officers:
John Farley (CEO & Dir.)
|
| |
|
Auditor:
Davidson & Company LLP
|
| |
|
Securities:
Common Stock-Symbol AVVWE.OB; OTC BB;
750,000,000 common shares outstanding as of November 1, 2007.
|
| |
| |
| |
| return to main page |
|
|
