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Prospector
Profile
115-02
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| GS Agrifuels Corporation |
NAICS |
325193 |
| One Penn Plaza, Suite 1612
New York, NY 10119 |
Description |
Ethanol Mfg. |
| (212) 994-5374 |
Employees |
0 |
| http://www.gs-agrifuels.com/ |
Revenue |
(mil) |
0.5200 |
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Income |
(mil) |
-2.5480 |
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Assets |
(mil) |
29.6300 |
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Liability |
(mil) |
33.2000 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Rosenberg Rich Baker Berman & Co. raised substantial doubt about GS Agrifuels Corporation's ability to continue as a going concern after auditing its financial statement for the year ended December 31, 2006. The Company had net loss of $2,548,547 for the year ended December 31, 2006, compared with a net loss of $424,811 for the year ended December 31, 2005. The auditor points out that the Company has suffered recurring losses from operations and has working capital deficiency of $10,570,000 and an accumulated deficit of $3,154,850 as of December 31, 2006.
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Intellectual Property:
The Company owns the rights to a number of proprietary technologies, including innovative desiccation, process intensification, gasification, catalytic and carbon capture technologies. The Company's biodiesel production capability is designed around a patent-pending biodiesel process technology that leverages innovative process intensification techniques to accelerate and enhance traditional biodiesel reaction kinetics, thus decreasing process time, reducing energy and raw material needs, and increasing product quality. It also acquired certain exclusive use rights for a proprietary new biomass gasifier that is designed to standardize variable biomass feeds and optimize high yields of high-quality syngas in real-time with greatly increased capital and operating cost efficiencies at smaller scales as compared to traditional gasification technologies. [SEC Filing 10-KSB/A 12-20/2007]
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Description:
GS Agrifuels Corporation, together with its subsidiaries, engages in the manufacture and sale of proprietary agrifuels and renewable energy production equipment.
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Officers:
Kevin Kreisler (Chair); Thomas W. Scozzafava (Pres. & CEO)
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Auditor:
Rosenberg Rich Baker Berman & Co.
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Securities:
Common Stock-Symbol GSGF.OB; OTC BB; 29,024,572 common shares outstanding as of November 14, 2007.
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