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Prospector
Profile
123-002
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| Implantable Vision, Inc. |
NAICS |
339115 |
| 25730 Lorain Road
North Olmsted, OH 44070 |
Description |
Ophthalmic Goods Mfg. |
| (212) 243-0721 |
Employees |
5 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-2.5130 |
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Assets |
(mil) |
1.0220 |
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Liability |
(mil) |
0.8570 |
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(for the year ended 2007-07-31) |
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Category:
Loss/Deficit
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Event:
Implantable Vision, Inc., had a net loss of $290,554 for three months ended October 31, 2007, much lower than the $698,954 net loss incurred during the three months ended October 31, 2006. The Company's balance sheet at October 31, 2007, showed an accumulated deficit of $3,738,234 and stockholders' deficit of $76,496. It also has strained liquidity with only $138 in total current assets available to pay $1,073,141 in total current liabilities.
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Intellectual Property:
The Company has designed and is currently seeking regulatory approval for two phakic intraocular lenses (P-IOL) products: the TP.2 Phakic Lens and the Phakic Refractive Lens. The TP.2 was designed to treat both major vision disorders, myopia and hyperopia. This product is undergoing international clinical testing, and the data from these clinical tests will be utilized to apply for a CE Mark, which will allow the Company to market and sell the TP.2 in Europe and other participating countries. The Company also plans to seek FDA approval for the TP.2, which will allow the Company to market and sell the TP.2 in the U.S. In June 2006, the Company acquired the intellectual property and marketing rights to the Phakic Refractive Lens (PRL) in the United States and Japan from CIBA Vision AG for a purchase price of $1 million plus future royalty payments. The PRL's target users are patients suffering from myopia and possibly hyperopia. In addition to the TP.2 and the PRL, the Company is also developing toric lenses, which are designed to correct for astigmatism. [SEC Filing 10-KSB 11-13-2007]
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Description:
Implantable Vision focuses on the development and commercialization of phakic intraocular lenses for refractive surgical vision correction market.
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Officers:
Dr. George Rozakis (Pres., CEO & Dir.); William Rozakis (CFO & Sec.); Igor Valyunin (Dir. & Chief Scientific Officer); Jerry Kaeni (Dir.); Dr. Alex Hatsis (Medical Director)
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Auditor:
Jaspers & Hall, PC
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Securities:
Common Stock-Symbol IMVS.OB; OTC BB; 33,178,422 common shares outstanding as of December 17, 2007.
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