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Prospector
Profile
114-08
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| Sew Cal Logo, Inc. |
NAICS |
315991 |
| 207 W 138th Street
Los Angeles, CA 90061 |
Description |
Hats Mfg. |
| (310) 352-3300 |
Employees |
65 |
| http://www.sewcal.com/ |
Revenue |
(mil) |
1.9320 |
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Income |
(mil) |
-2.5700 |
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Assets |
(mil) |
0.6210 |
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Liability |
(mil) |
2.6230 |
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(for the year ended 2007-08-31) |
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Category:
Audit Concerns
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Event:
Moore & Associates Chartered raises substantial doubt about the ability of Sew Cal Logo, Inc. to continue as a going concern after auditing its financial statements for the year ended August 31, 2007. The Company had a net loss of $2,570,683 on revenues of $1,932,448 for the year ended August 31, 2007, which is lower than the net loss of $2,947,833 on revenues of $2,268,432 for the year ended August 31, 2006. The Company’s balance sheet at August 31, 2007, showed an accumulated deficit of $6,192,330, stockholders' deficit of $2,002,972 and working capital deficit of $478,020.
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Intellectual Property:
The Company recently applied to the U.S. Patent and Trademark Office for the trademark “Pipeline Posse” in several categories. Each of its applications is active and currently under review for approval by the USPTO examiners. [SEC Filing 10-KSB 12-14-07]
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Description:
Sew Cal Logo produces custom embroidered hats, sportswear and related corporate identification apparel.
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Officers:
Richard L. Songer (Pres. & Dir.); Judy Songer (Sec. & CFO); Lori Heskett (EVP & COO)
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Auditor:
Moore & Associates Chartered
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Securities:
Common Stock-Symbol SEWC.OB; OTC BB;
43,975,535 common shares outstanding as of December 13, 2007.
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