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Prospector
Profile
2-7-002
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| Wataire International, Inc. |
NAICS |
333319 |
| #300, Warner Center, 21550 Oxnard Street
Woodland Hills, CA 91367 |
Description |
Water Generator Mfg. |
| (877) 602-8985 |
Employees |
0 |
| http://www.wataireinternational.com/company.html |
Revenue |
(mil) |
0.3080 |
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Income |
(mil) |
-8.4300 |
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Assets |
(mil) |
3.6900 |
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Liability |
(mil) |
0.7970 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
Gruber & Company LLC, expressed substantial doubt about the ability of Wataire International, 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 pointed to the Company's recurring losses from operations. The Company posted a net loss of $8,430,656 on sales of $308,062 for the year ended September 30, 2007, as compared with the net loss of $297,661 on sales of $5,500 in the prior year. At September 30, 2007, the Company's balance sheet showed $3,690,968 in total assets, $796,955 in total liabilities and $2,894,013 in stockholders' equity.
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Intellectual Property:
On April 25, 2007, the Company entered into an agreement with Ecosafe, Canadian Dew Technologies Inc., Terrence Nylander and Roland Wahlgren to acquire all of the intellectual property relating to a water treatment process and devices for water-from-air machines. The intellectual property acquired by the Company includes all copyrights, patent rights, trade secret rights, trade names, trademark rights, process information, technical information, contract rights and obligations, designs, drawings, inventions and all other intellectual and industrial property rights of any sort related to or associated with the invention. [SEC Filing 10-KSB 01-16-08]
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Description:
Wataire International, Inc., a development stage company, distributes atmospheric water generators.
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Officers:
Robert Rosner (Chair, CEO & Sec.); Richard Jordan (Treas. & CFO)
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Auditor:
Gruber & Company LLC
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Securities:
Common Stock-Symbol WTAR.PK; Other OTC; 68,351,953 common shares outstanding as of December 31, 2007.
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