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Prospector
Profile
202-02
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| PPT Vision, Inc. |
NAICS |
333000 |
| 12988 Valley View Road
Eden Prairie, MN 55344 |
Description |
Industrial Equipment Mfg. |
| (952) 996-9500 |
Employees |
39 |
| http://www.pptvision.com/corporate.shtml |
Revenue |
(mil) |
4.9780 |
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Income |
(mil) |
-1.4980 |
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Assets |
(mil) |
2.6340 |
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Liability |
(mil) |
0.6490 |
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(for the year ended 2007-10-31) |
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Category:
Audit Concerns
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Event:
Virchow Krause & Company LLP, expressed substantial doubt about the ability of PPT Vision Inc., to continue as a going concern after it audited the company's financial statements for the year ended Oct. 31, 2007. The auditor stated that the company has incurred recurring losses and negative cash flows from operating activities in recent years and requires additional working capital to support future operations. The company posted a net loss of $1,498,000 on net revenues of $4,978,000 for the year ended October 31, 2007, as compared with a net loss of $1,287,000 on net revenues of $5,693,000 in the prior year. At October 31, 2007, the company's balance sheet showed $2,634,000 in total assets, $649,000 in total liabilities and $1,985,000 stockholders' equity.
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Intellectual Property:
The Company relies on a combination of patent, copyright, trademark and trade secret laws to establish its proprietary rights in its products. The Company owns several issued United States and international patents for various inventions used in machine-vision, automated inspection and illumination systems. The Company believes that the patents it owns may have been useful in protecting the Company’s proprietary products and may be useful in protecting potential future products. The Company also believes its ability to efficiently develop and sell high performance, cost-effective vision systems on a timely basis, whether patented or not, is crucial to the Company’s future success. The Company requires each of its employees to enter into standard agreements pursuant to which the employee agrees to keep confidential all proprietary information of the Company and to assign to the Company all rights in any proprietary information or technology made or contributed by the employee during his or her employment or made thereafter as a result of any inventions conceived or work done during such employment. The Company has obtained United States federal registration for a number of its trademarks including its “PPT”, “PPT VISION”, “IMPACT”, and “Inspection Builder” trademarks. [SEC Filing 10-KSB 01-25-08]
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Description:
The Company is engaged in the design, manufacture, and marketing of machine vision-based automated inspection systems for manufacturing applications.
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Officers:
Joseph C. Christenson (Pres., CFO & Dir.); David L. Friske (VP-Mfg.)
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Auditor:
Virchow Krause & Company LLP
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Securities:
Common Stock-Symbol PPTV.OB; OTC BB;
9,902,916 common shares outstanding as of January 2, 2008.
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