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Prospector
Profile
115-03
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| General Datacomm Industries, Inc. |
NAICS |
517919 |
| 6 Rubber Avenue
Naugatuck, CT 06770 |
Description |
Telecommunications |
| 06-0853856 |
Employees |
98 |
| http://www.gdc.com |
Revenue |
(mil) |
14.1400 |
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Income |
(mil) |
3.5820 |
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Assets |
(mil) |
10.1360 |
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Liability |
(mil) |
41.8680 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Eisner LLP raised substantial doubt about the ability of General Datacomm Industries, Inc., to continue as a going concern after auditing its financial statements for the year ended September 30, 2007. The auditing firm notes that Company has both working capital and stockholders’ deficit at September 30, 2007, and has no current ability to obtain new financing. In addition, the Company does not have the ability to repay approximately $27.3 million of Debentures including accrued interest which mature on October 1, 2008. At September 30, 2007, the Company's balance sheet showed an accumulated deficit of $231.60 million and stockholders' deficit of $31.73 million.
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Intellectual Property:
The Company presently owns approximately 36 domestic patents and has no additional applications pending. Many of these patents and applications have also been filed in Canada and various other foreign countries. The Company believes that certain features relating to its equipment for which it has obtained patents, or for which patent applications have been filed, are important to its business, but does not believe that its success is dependent upon its ability to obtain and defend such patents. [SEC Filing 10KSB 12-20-2007]
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Description:
General DataComm Industries, Inc., through its subsidiaries, provides networking and telecommunications products, services, and solutions worldwide.
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Officers:
Howard S. Modlin (Chair, CEO, Pres. & Sec.); William G. Henry (VP-Finance & CFO); George M. Gray (VP-Operations & Chief Technical Officer); John L. Segall (Dir.); Aletta P. Richards (Dir.)
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Auditor:
Eisner LLP
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Securities:
Common Stock-Symbol GNRD.PK; Other OTC;
3,474,373 common shares outstanding as of December 15, 2007.
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