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Prospector
Profile
2-5-002
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| Sionix Corporation |
NAICS |
333319 |
| 2082 Michelson Drive, Suite 304
Irvine, CA 92612 |
Description |
Water Treatment Systems |
| (949) 752-7980 |
Employees |
6 |
| http://www.sionix.com |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-2.0010 |
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Assets |
(mil) |
0.5190 |
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Liability |
(mil) |
2.9560 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Kabani & Company, Inc., expressed substantial doubt about the ability of Sionix Corporation to continue as a going concern after it audited the Company's financial statements for the year ended September 30,2007. The auditor notes that the Company has a deficit accumulated from inception amounting to $17,300,147 at September 30, 2007 including a net loss of $2,001,094 incurred in the year ended September 30, 2007. The Company's balance sheet at September 30, 2007, also showed stockholders' deficit of $2,437,085 and working capital deficit of $2,582,819.
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Intellectual Property:
The Company holds eight U.S. patents on technology incorporated into the Elixir water treatment system and related components, with an additional two patents pending. Its patents cover process, system and waste handling, an automatic backflushing system using air pressure to activate the valves, the ozone mixing system, and the inline wet-chemistry water quality monitoring system. The extent to which patents provide a commercial advantage, or inhibit the development of competing products, varies. The Company also relies on common law concepts of confidentiality and trade secrets, as well as economic barriers created by the required investments in tooling and technical personnel and the development of customer relationships, to protect its proprietary products. [SEC Filing 10-KSB 01-15-08]
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Description:
Sionix Corporation, a development stage company, engages in design, development, and marketing of an automatic water filtration systems primarily for small water districts.
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Officers:
Dr. John H. Foster (Chair); Richard H. Papalian (CEO); James J. Houtz (Pres.); Robert McCray (CFO); Rodney Anderson (Dir.); David Ross (Dir.); Dr. W. Richard Laton (Dir.)
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Auditor:
Kabani & Company, Inc.
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Securities:
Common Stock-Symbol SINX.OB; OTC BB; 106,635,201 common shares outstanding as of December 31, 2007.
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