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Prospector
Profile
131-005
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| Monumental Marketing, Inc. |
NAICS |
550000 |
| 20 Robert Pitt Drive, Suite 214
Monsey, New York 10952 |
Description |
Mgt. Of Companies |
| (845) 425-0077 |
Employees |
0 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-2.5620 |
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Assets |
(mil) |
0.6590 |
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Liability |
(mil) |
1.8710 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Pollard-Kelley Auditing Services, Inc., expressed substantial doubt about the ability of Monumental Marketing, Inc., to continue as a going concern after it audited the Company's financial statements for the years ended September 30, 2007, and 2006. The auditing firm notes that the Company has incurred net losses of approximately $1,562,523 and $451,006 for the years ended September 30, 2007 and 2006 respectively, has a liquidity problem, and requires additional financing in order to finance its business activities on an ongoing basis. The Company's balance sheet at September 30, 2007, showed an accumulated deficit of $3,242,903 and stockholders' deficit of $1,212,318. It also has strained liquidity with $603,921 in total current assets available to pay $1,871,418 in total current liabilities.
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Intellectual Property:
The Company has entered into a letter of undertaking and an escrow services agreement with Mr. Yehuda Meller and his company, T.A.G Engineering Ltd. Pursuant to the terms of the letter of undertaking, the Company agreed to purchase patent applications filed with the Israeli Patent Office: patent application no. 161777-8, which was filed on December 4, 2005 and patent application no. 162809-8, which was filed on December 13, 2005. The patent applications relate to a less than lethal weapon currently known as the "Bouncer", which is in its development stage. [SEC Filing 10-KSB 01-14-08]
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Description:
The Company was formed specifically to be a "clean public shell" and for the purpose of either merging with or acquiring an operating company with operating history and assets.
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Officers:
Margaret Johns (Interim CEO); Raanan Alergand (Treas.)
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Auditor:
Pollard-Kelley Auditing Services, Inc.
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Securities:
Common Stock-Symbol MNUM.OB; OTC BB; 32,546,095 common shares outstanding as of December 27, 2007.
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