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Prospector
Profile
2-5-004
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| Applied DNA Sciences, Inc. |
NAICS |
621511 |
| 25 Health Sciences Drive, Suite 113
Stony Brook, NY 11790 |
Description |
Medical Laboratories |
| (631) 444-6862 |
Employees |
7 |
| http://www.adnas.com |
Revenue |
(mil) |
0.1219 |
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Income |
(mil) |
-13.3040 |
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Assets |
(mil) |
2.4110 |
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Liability |
(mil) |
14.3560 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
RBSM LLP, raised substantial doubt about the ability of Applied DNA Sciences, Inc., to continue as a going concern after it audited the Company's financial statements for the year ended September 30, 2007. The auditing firm reported that the Company is experiencing difficulty in generating cash flow to meet its obligations and sustain its operations. The Company had a net loss of $13.30 million on net sales of $121,920 for the year ended September 30, 2007, as compared with a net loss of $2.41 million on net sales of $18,900 in the prior year. At September 30, 2007, the Company's balance sheet showed an accumulated deficit of $140.57 million and stockholders' deficit of $11.94 million.
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Intellectual Property:
The Company's patent pending encryption system allows it to isolate strands of botanical DNA and then fragment and reconstitute them to form unique "DNA chimers", or encrypted DNA segments. [SEC Filing 10-KSB 01-15-08]
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Description:
Applied DNA Sciences, provides botanical DNA encryption, embedment, and authentication solutions.
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Officers:
James A. Hayward (Chair, Pres. & CEO); Kurt Jensen (CFO); Ming-Hwa Benjamin Liang (Sec. & Strategic Technology Development Officer); Sanford R. Simon (Dir.); Yacov Shamash (Dir.)
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Auditor:
RBSM LLP
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Securities:
Common Stock-Symbol APDN.OB; OTC BB; 190,761,603 common shares outstanding as of January 10, 2008.
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