Prospector
Profile
08.0028
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| YzApp International, Inc. |
NAICS |
511210 |
| Suite 500-666 Burrard Street
Vancouver, British Columbia, Canada V6C 3P6 |
Description |
Software Publisher |
| (604) 868-0264 |
Employees |
0 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
0.1020 |
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Assets |
(mil) |
0.0005 |
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Liability |
(mil) |
0.1050 |
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(for the year ended 2007-07-31) |
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Category:
Audit Concerns
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Event:
Manning Elliott LLP raised substantial doubt on YzApp International, Inc.'s ability to continue as a going concern after auditing its financial statements for the year ended July 31, 2007. The auditor points out that the Company has a working capital deficiency, has accumulated losses since inception and will need additional debt/equity financing to begin realizing its business plan. The Company has an accumulated deficit of $1,025,766, stockholders' deficit of $104,400 and working capital deficit of $104,400.
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Intellectual Property:
The Company relies on trade secrets to protect intellectual property. The Company does not have and does not intend to apply for patents on its products. Management believes that the patent application process in many countries would be time-consuming and expensive and any patent protection may be out of date by the time the patent is granted. Its proprietary software is protected by a source code held by the company. [SEC Filing 10-KSB 11-20-07]
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Description:
The Company is engaged in developing software, which allowed them to act as an application service provider acting as a conduit between retailers and financial institutions.
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Officers:
Brian Jaggard (Pres., CEO & CFO); Douglas Dunn (Sec. & COO)
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Auditor:
Manning Elliott LLP
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Securities:
Common Stock-Symbol YXPI.OB; OTC BB; 11,746,041 common shares outstanding as of October 31, 2007.
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