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Prospector
Profile
128-04
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| 5G Wireless Communications, Inc. |
NAICS |
517210 |
| 2771 Plaza del Amo, Suite 805
Torrance, CA 90503 |
Description |
Wireless Telecommunications |
| (310) 328-0495 |
Employees |
11 |
| http://www.5gwireless.com/ |
Revenue |
(mil) |
0.7810 |
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Income |
(mil) |
-6.1260 |
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Assets |
(mil) |
0.7600 |
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Liability |
(mil) |
7.5670 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
5G Wireless Communications, Inc. had a net loss of $1,941,166 on revenues of $339,820 for the three months ended September 30, 2007, compared to a net income of $120,286 on revenues of $274,233 for the three months ended September 30, 2006. For the nine months ended September 30, 2007, the Company had a $3,773,947 net loss, much lower than the $6,278,932 net loss incurred during the same period in 2006. As a result of its recurring losses, the Company had an accumulated deficit of $32,644,894 and stockholders' deficit of $8,463,151 as of September 30, 2007. It also has strained liquidity with $201,073 in total current assets available to pay $9,330,186 in total current liabilities.
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Intellectual Property:
The Company’s intellectual property combines hardware design and modifications to the radio frequency software that enables it to extend range and throughputs. The Company plans to maintain this intellectual by limiting individuals within the organization from having access to these codes and will not allow any third party to have access to the base codes or hardware configurations. The Company’s success and ability to compete will be dependent in part on the protection of its trade name (WiFi Hot Zone), and other proprietary rights. The Company intends to rely on trade secret and copyright laws to protect the intellectual property that it has developed. [SEC Filing 10-KSB 04-17-07]
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Description:
5G Wireless manufactures and operates broadband wireless networks for the hospitality and time share markets.
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Officers:
Jerry Dix (Pres., CEO & Dir.); Don Boudewyn (EVP, Sec., Treas. & Dir.); Andrew D. McCormac (CFO)
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Auditor:
Squar Milner Peterson Miranda & Williamson LLP
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Securities:
Common Stock-Symbol FGWI.OB; OTC BB; 122,619,119 common shares outstanding as of December 12, 2007.
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