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Prospector
Profile
2-16-001
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| O2 Secure Wireless, Inc. |
NAICS |
518111 |
| 4898 South Old Peachtree Road, NW, Suite 150
Norcross, GA 30071 |
Description |
Wireless Internet Services |
| (678) 942-0684 |
Employees |
5 |
| http://www.o2securewireless.com |
Revenue |
(mil) |
0.4400 |
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Income |
(mil) |
0.8500 |
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Assets |
(mil) |
0.5200 |
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Liability |
(mil) |
0.3500 |
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(for the year ended 2007-09-30) |
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Category:
Audit Concerns
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Event:
McElravy Kinchen & Associates P.C., expressed substantial doubt about O2 Secure Wireless, Inc.'s ability to continue as a going concern after it audited the Company's financial statements for the year ended September 30, 2007. The auditing firm points to the Company's recurring losses from operations. The Company posted a net loss of $854,340 on total revenues of $437,707 for the year ended September 30, 2007, as compared with a net loss of $846,661 on total revenues of $211,695 in the prior year. At September 30, 2007, the Company's balance sheet showed $514,767 in total assets, $350,622 in total liabilities and $164,145 in total stockholders' equity. It also has strained liquidity with $45,759 in total current assets available to pay $350,622 in total current liabilities.
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Intellectual Property:
The Company relies on a combination of trademark, copyright, trade secret laws and disclosure restrictions to protect intellectual property rights. It also enters into confidentiality and proprietary rights agreements with employees, consultants and other third parties and control access to software, documentation and other proprietary information. The Company relies on common law trademark rights to protect the trade name "O2 Secure Wireless." The Company has a registered and assigned trademark with the United States Patent and Trademark Office (USPTO) for "Using the Air to Share" trademark. In addition, the Company licenses third-party technologies that are incorporated into its services, including off-the-shelf software as well as software code to monitor the Company's network access components. [SEC Filing 10-KSB 01-28-08]
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Description:
O2 Secure Wireless, Inc. provides wireless Internet services to multi-dwelling units in the southeastern United States.
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Officers:
Craig C. Sellars (CEO & Pres.); Keith A. Greaves (Sec.); India Creery (External Acting CFO)
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Auditor:
McElravy Kinchen & Associates P.C.
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Securities:
Common Stock Symbol OTOW.OB; OTC BB; 28,065,424 common shares outstanding as of January 15, 2008.
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