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Prospector
Profile
2-8-001
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| Mobiventures, Inc. |
NAICS |
511210 |
| Suite 3.19, MLS Business Centre,
130 Shaftesbury Avenue
London, England WID 5EU |
Description |
Software Publisher |
| +44 (0) 20 7031 1193 |
Employees |
0 |
| http://www.mobiventures.com/ |
Revenue |
(mil) |
0.0920 |
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Income |
(mil) |
-1.3630 |
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Assets |
(mil) |
0.1546 |
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Liability |
(mil) |
1.2400 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Dale Matheson Carr-Hilton Labonte LLP expressed substantial doubt about Mobiventures, Inc.'s ability to continue as a going concern after it audited the Company's financial statements for the fiscal year ended September 30, 2007. According to the auditing firm, the Company has not generated significant revenues since inception, has incurred losses in developing its business, and further losses are anticipated. Also, the Company requires additional funds to meet its obligations and the costs of its operations. The Company posted a net loss of $1,363,932 on net sales of $92,078 for the year ended September 30, 2007, as compared with a net loss of $2,816,505 on sales of $10,914 in the prior year. The Company's balance sheet at September 30, 2007, showed an accumulated deficit of $4,399,246 and stockholders' deficit of $1,085,799. It also has strained liquidity with $154,663 in total current assets available to pay $1,240,462 in total current liabilities.
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Intellectual Property:
The Company owns intellectual property rights relating to Tracebit’s games and entertainment applications for mobile handsets and its MobileMail suite of software applications that includes trade secrets and copyright, except for some brand names that the Company has licensed. The Company seeks to protect its intellectual property by generally limiting access, treating portions as trade secrets and obtaining confidentiality or non-disclosure agreements from persons who are given access, including developers. [SEC Filing 10-KSB 01-18-08]
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Description:
Mobiventures, Inc., owns a suite of software applications which provides a platform for enabling users to send Short Message Service (SMS) messaging traffic to wireless devices using the Internet and to, in turn, receive SMS messages from wireless devices through the Internet.
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Officers:
Nigel Nicholas (CEO); Peter Åhman (Pres., CFO & Sec.); Miro Wikgren (Chief Technical Officer)
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Auditor:
Dale Matheson Carr-Hilton Labonte LLP
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Securities:
Common Stock-Symbol MBLV.OB; OTC BB; 48,025,021 common shares outstanding as of January 16, 2008.
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