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Prospector
Profile
2-15-008
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| Lithium Technology Corporation |
NAICS |
335911 |
| 5115 Campus Drive
Plymouth Meeting, PA 19462
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Description |
Batteries Mfg. |
| (610) 940-6090 |
Employees |
66 |
| http://www.lithiumtech.com |
Revenue |
(mil) |
2.8000 |
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Income |
(mil) |
20.2900 |
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Assets |
(mil) |
10.7500 |
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Liability |
(mil) |
31.7600 |
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(for the year ended 2006-12-31) |
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Category:
Audit Concerns
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Event:
Amper Politziner & Mattia PC raised substantial doubt about the ability of Lithium Technology Corporation to continue as a going concern after it audited the company's financial statements for the year ended December 31, 2006. The auditing firm pointed to the company's recurring losses from operations since inception and working capital deficit. The company posted a net loss of $20,289,000 on total sales of $2,799,000 for the year ended December 31, 2006, as compared with a net loss of $10,582,000 on total sales of $1,803,000 in the prior year. At December 31, 2006, the company's balance sheet showed $10,750,000 in total assets and $31,758,000 in total liabilities, resulting in $21,008,000 stockholders' deficit. As of December 31, 2006, its working capital deficit was $27,012,000 as compared to $22,299,000 at December 31, 2005.
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Intellectual Property:
As of December 31, 2006, the Company and its subsidiaries have 48 issued patents and 40 pending patent applications. The Company's DILO Trading subsidiary holds patents for which the intellectual property was developed by DILO Trading in collaboration with GAIA Holding subsidiary. DILO Trading has granted GAIA the right to use these patents. The Company also has proprietary knowledge that is in the patent disclosure stage or that the Company protects as trade secrets. Its early patents relate to materials and construction for lightweight solid-state rechargeable batteries. The Company's later patents and applications relate to improvements to the technology contained in the first patents or to other key aspects of rechargeable lithium battery technology. [SEC Filing 10-KSB 02-08-08]
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Description:
Lithium Technology Corporation engages in the manufacture and sale of lithium-ion rechargeable batteries for national security, transportation, and stationary power markets in the United States and Europe.
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Officers:
Hendrikus Harold van Andel (Chair); Dr. Andrew J. Manning (Pres., COO & Chief Technological Officer); Dr. Klaus Brandt (EVP); Amir Elbaz (CFO, EVP & Treas.); David J. Cade (Dir.); Ralph D. Ketchum (Dir.); Arif Maskatia (Dir); Prof. Dr. Marnix A. Snijder (Dir.)
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Auditor:
Amper Politziner & Mattia PC
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Securities:
Common Stock Symbol LTHU.PK; Other OTC;
630,891,414 common shares outstanding as of December 20, 2007.
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