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Prospector
Profile
2-15-003
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| Moneyflow Systems International, Inc. |
NAICS |
334119 |
| Suite N, 7003 - Fifth Street SE
Calgary, Alberta, Canada T2H 2G2 |
Description |
ATM Machines Mfg. |
| (403) 319-0236 |
Employees |
5 |
| http://www.moneyflowsystems.com/ |
Revenue |
(mil) |
0.6000 |
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Income |
(mil) |
0.0200 |
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Assets |
(mil) |
0.3100 |
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Liability |
(mil) |
0.0600 |
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(for the year ended 2007-10-31) |
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Category:
Audit Concerns
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Event:
Weaver & Martin LLC expressed substantial doubt about the ability of MoneyFlow Systems International, Inc., to continue as a going concern after it audited the Company's financial statements for the year ended October 31, 2007. The auditing firm pointed to the Company's recurring losses from operations. The Company posted a net loss of $21,186 on total revenues of $597,728 for the year ended October 31, 2007, as compared with a net loss of $31,277 on total revenues of $752,752 in the prior year. At October 31, 2007, the Company's balance sheet showed $310,647 in total assets, $62,592 in total liabilities and $248,055 in total stockholders' equity.
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Intellectual Property:
The Company's registered Canadian trademarks are: "CA$H STATION" and "CASH FOR YOUR CUSTOMERS WHEN AND WHERE THEY NEED IT", both of which are owned by its subsidiary, Security Bancorp. The Company believes that these trademarks are known and recognized within the market and are valuable to its business. The Company intends to vigorously enforce all violations of trademarks as the goodwill associated with them is important to the development of its business. [SEC Filing 10-KSB 01-29-08]
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Description:
MoneyFlow Systems International, Inc., supplies, installs, maintains and manages electronic funds transfer terminals to facilitate the convenient dispensing of cash and other services to merchants and consumers. In addition, the Company has developed, assembles and sells its "Remote Access Digital Video Recorder," the heart of its Digital Surveillance Systems.
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Officers:
Harold F. Schultz (Chair, Pres., CEO & CFO); Douglas A. McDougall (CFO); Darwyn Ross (Dir.); Richard Landerman (Dir.)
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Auditor:
Weaver & Martin LLC
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Securities:
Common Stock Symbol MFLW.OB; OTC BB; 7,276,203 common shares outstanding as of January 29, 2008.
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