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Prospector
Profile
110-02
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| First Capital International Corp. |
NAICS |
334511 |
| 5120 Woodway, Suite 9024
Houston, TX 77056 |
Description |
Surveillance Equipment Mfg. |
| (713) 629-4866 |
Employees |
12 |
| http://www.firstcap.net/ |
Revenue |
(mil) |
0.1980 |
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Income |
(mil) |
-0.9890 |
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Assets |
(mil) |
0.1730 |
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Liability |
(mil) |
1.5680 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
McConnell & Jones LLP raised doubts on the ability of First Capital International Corp. to continue as a going concern after auditing its amended financial statements for the year ended December 31, 2006. The auditor notes that the Company has suffered recurring losses
from operations and has been dependent on funding obtained from outside investors to support its continuing operations. The Company had a net loss of $989,594 on revenues of $198,537 for the year ended December 31, 2006, compared to a net loss of $563,395 on revenues of $146,391 for the year ended December 31, 2005. The Company's balance sheet at December 31, 2006, showed an accumulated deficit of $10,208,047, stockholders' deficit of $1,395,120 and working capital deficit of $1,120,032.
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Intellectual Property:
The Company seeks patent protection on its core technologies, applications and improvements of these technologies and on related inventions that will help ensure its access to desired markets. As of March 16, 2007, the Company owned one patent (Patent No. US 6,628,510) for its VIP Systems™ with fully integrated software/hardware. It also relies upon trade secrets, know-how, trademarks, copyright protection and continuing technological and licensing opportunities to develop and maintain its competitive position. [SEC Filing 10-KSB/A 12-04-07]
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Description:
First Capital, through its wholly owned subsidiary, VIP Systems, Inc., engages in the development, production, and sale of home automation and video surveillance systems for residential and commercial applications.
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Officers:
Alex Genin (Chair & CEO); Cathy K. George (Dir.); Merrill P. O'Neal (Dir.); Andrew Grebe (Dir.)
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Auditor:
McConnell & Jones LLP
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Securities:
Common Stock-Symbol FCPN.OB; OTC BB;
32,898,670 common shares outstanding as of March 16, 2007.
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