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Prospector
Profile
07.1663
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| Financial Media Group, Inc. |
NAICS |
519110 |
| 2355 Main Street, Suite 120
Irvine, CA 92614 |
Description |
News Services |
| (949) 486-3990 |
Employees |
42 |
| http://www.wallst.net/index.asp |
Revenue |
(mil) |
7.0900 |
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Income |
(mil) |
-5.9370 |
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Assets |
(mil) |
4.0490 |
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Liability |
(mil) |
7.5610 |
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(for the year ended 2007-08-31) |
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Category:
Audit Concerns
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Event:
Kabani & Company, Inc., expressed substantial doubt about the ability of Financial Media Group, Inc., to continue as a going concern after auditing the company's consolidated financial statements for the year ended Aug. 31, 2007. The auditor reported that the company has accumulated deficit of $9,672,076 as of Aug. 31, 2007 and has incurred net loss for the year ended Aug. 31, 2007. Financial Media posted a net loss of $5,937,675 on $7,090,042 of revenues for the year ended Aug. 31, 2007, as compared with a net loss of $1,608,268 on $6,631,631 of net revenues in the prior year. At Aug. 31, 2007, the company's balance sheet showed $4,049,371 in total assets and $7,561,058 in total liabilities, resulting in $3,511,687 stockholders' deficit.
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Intellectual Property:
The Company is highly dependent on the brand name "Wallst.net" for the success of its venture. It also holds the Internet domain name www.wallst.net. The Company currently relies on contractual rights, copyrights, trademarks, and trade secrets to protect intellectual property rights. [SEC Filing 10-KSB 12-07-07]
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Description:
Financial Media Group is a full service financial media company focused on applications that enables the retail investment and financial communities to collaborate directly with publicly traded companies.
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Officers:
Albert Aimers (Chair & CEO); Javan Khazali (COO & Dir.); Mark V. Noffke (CFO); Tyson Le (Sec.); Dato'Sri Ram Sarma (Dir.); A. Chandrakumanan (Dir.); Nick Iyer (Dir.); Wendy Borow-Johnson (Dir.); Tom Hemingway (Dir.)
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Auditor:
Kabani & Company, Inc.
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Securities:
Common Stock-Symbol FNGP.OB; OTC BB;
37,398,139 common shares outstanding as of November 20, 2006.
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