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Prospector
Profile
1203-07
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| Polar Molecular Holdings Corp. |
NAICS |
325188 |
| 4600 S. Ulster Street, Suite 940
Denver, CO 80237 |
Description |
Fuel Additives Mfg. |
| (303) 221-1908 |
Employees |
4 |
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Revenue |
(mil) |
0.4080 |
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Income |
(mil) |
-3.1950 |
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Assets |
(mil) |
0.1750 |
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Liability |
(mil) |
4.9060 |
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(for the year ended 2004-12-31) |
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Category:
IP Asset Sale
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Event:
Polar Molecular Corp., a wholly owned subsidiary of Polar Molecular Holding Corporation, will sell its patents and trademarks, which concern fuel additive technology designed to control combustion chamber deposits and reduce octane requirements of gasoline engines, at 10:00 a.m. on Jan. 14, 2008. The assets will be sold as a single unit without warranty of title, possession, quiet enjoyment or any other warranty. Minimum bid increment will be $25,000 until $1 million. The foreclosing creditor may bid up to about $1.25 million. The highest bidder must wire transfer the first $500,000 of its bid at the conclusion of the auction and the balance within two business days. Failure to complete payment will cause forfeiture of the amount paid, and permit, but not require, sale to the next highest bidder.
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Intellectual Property:
Polar holds 6 U.S. patents and 34 foreign patents. The U.S. patent for DurAlt®FC Plus Detergent, issued in December 2002, extends Polar’s U.S. patent coverage for DurAlt®FC with detergents from 2005 until 2023. In June 2004, the Company, its founders, Otis, Mark, and A. Richard Nelson, and two of the Company’s international scientists, Dr. Chandra Prakash and Dr. Gilbert Chapelet, applied for 7 new DurAlt®FC technology combination patents. The new patents protect the use of DurAlt®FC technology with key gasoline and fuel additive chemistries in the U.S. In June 2005, these same 7 patents were filed under the Patent Cooperation Treaty. This international treaty provides protection for the DurAlt®FC intellectual property in 130 countries around the world. [SEC Filing 10-KSB 01-09-06]
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Description:
Polar Molecular Holding Corporation, through its wholly-owned subsidiary Polar Molecular Corporation, develops and markets fuel additives.
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Officers:
Mark L. Nelson (Chair, Pres. & CEO); Chandra B. Prakash (VP & Dir.); Walter Fay (Dir.); Richard J. Socia (Dir.); Wayne Wright (Dir.); Robert MacKenzie (Dir.)
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Auditor:
Hein & Associates LLP
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Securities:
Common Stock-Symbol POMH.PK; Other OTC;
136,775,473 common shares outstanding as of December 14, 2005.
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