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Prospector
Profile
07.1672
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| Solution Technology International, Inc. |
NAICS |
511210 |
| 685 Mosser Road, Suite 11
McHenry, MD 21541 |
Description |
Software Publisher |
| (301) 387-6900 |
Employees |
4 |
| http://www.sursite.com/ |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-1.6210 |
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Assets |
(mil) |
0.5460 |
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Liability |
(mil) |
7.1460 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
Solution Technology International, Inc. had a net loss of $1,172,626 for the nine months ended Septermber 30, 2007, much higher than the $944,397 net loss reported during the nine months ended September 30, 2006. For the third quarter ended September 30, 2007, the Company had a $550,364 net loss, slightly lower than the $559,636 incurred during the third quarter of last year. As a result of its recurring losses, the Company's balance sheet at September 30, 2007, showed an accumulated deficit of $26,657,076 and stockholder's deficit of $7,261,140. It also has strained liquidity with only $8,701 in total current assets available to pay $5,414,871 in total current liabilities.
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Intellectual Property:
The Company's success depends on the ability to protect proprietary rights to the technologies used to implement and operate its software in the United States and foreign countries. To protect proprietary rights, the Company relies on a combination of trade secrets, confidentiality agreements and other contractual provisions and agreements, copyright and trademark laws. [SEC Filing 10-KSB 04-02-07]
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Description:
The Company engages in the design, development, marketing, and support of Web-based software solution used by insurance and reinsurance companies to facilitate and support critical back-office business processes.
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Officers:
Dan L. Jonson (Pres., CEO & Dir.); Michael H. Pollack (CFO); Michael B. Shor (Dir.); Mark Spaeth (Dir.)
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Auditor:
Herman Lagor Hopkins & Meeks PA
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Securities:
Common Stock-Symbol STNL.OB; OTC BB;
93,236,104 common shares outstanding as of November 1, 2007.
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