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Prospector
Profile
07.1661
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| Dynamic Leisure Corp. |
NAICS |
561510 |
| 5680-A West Cypress Street, Suite 900
Tampa, FL 33607 |
Description |
Travel Agencies |
| (813) 877-6300 |
Employees |
44 |
| http://www.dylicorp.com/ |
Revenue |
(mil) |
5.7370 |
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Income |
(mil) |
0.2150 |
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Assets |
(mil) |
0.8310 |
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Liability |
(mil) |
0.7640 |
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(for the year ended 2005-12-31) |
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Category:
Default
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Event:
On January 13, 2006, and June 4, 2007, Dynamic Leisure Corp. and several lenders entered into Modification and Waiver Agreements pursuant to which Convertible Promissory Notes issued by the Company in the aggregate principal balance of $327,000 on March 2, 2005. Interest on these Notes at the rate of 5% per annum was to be paid quarterly, commencing March 31, 2006, and monthly principal amortization payments of approximately $29,700 were to commence on June 1, 2006. The Company was in default of the terms of this agreement for nonpayment of its quarterly interest payments. Accordingly, the Company began accruing default interest at the rate of 10% from the date of default of June 1, 2006. The company is in default on convertible promissory notes totaling $1,482,500 and unsecured promissory notes of $156,434 as of Nov. 19, 2007.
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Intellectual Property:
The Company regards the protection of intellectual property as important to its future success and relies on a combination of copyright, trademark, service mark and trade secret laws, license agreements and contractual restrictions to establish and protect intellectual property rights in its website architecture and technology, products, content and services. The Company plans to enter into confidentiality and invention assignment agreements with employees and contractors in order to limit disclosure of confidential information and to protect ownership interest in its website architecture and technology. [SEC Filing SB-2 10-07-07]
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Description:
The Company operates as an online leisure travel packager and wholesaler.
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Officers:
Daniel G. Brandano (Pres., CEO, Interim CFO & Dir.); Nigel P. Osborne (EVP & COO); Mark E. Crone (Sec.); Eric H. Winston (Dir.); David Shapiro (Dir.)
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Auditor:
Pender Newkirk & Company LLP
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Securities:
Common Stock-Symbol DYLI.OB; OTC BB;
15,644,495 common shares outstanding as of November 19, 2007.
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