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Prospector
Profile
3-6-001
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| Element 21 Golf Company |
NAICS |
339920 |
| 200 Queens Quay East, Unit #1, Toronto,
Ontario, Canada, M5A 4K9 |
Description |
Golf Equipment Mfg. |
| (416) 362-2121 |
Employees |
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| http://www.e21golf.com/corporate.php |
Revenue |
(mil) |
0.2300 |
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Income |
(mil) |
-4.0000 |
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Assets |
(mil) |
3.2000 |
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Liability |
(mil) |
4.1200 |
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(for the year ended 2007-06-30) |
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Category:
Loss/Deficit
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Event:
Element 21 Golf Company's consolidated balance sheet at December 31, 2007, showed $2,017,766 in total assets and $2,677,836 in total liabilities, resulting in a $660,070 total stockholders' deficit. It also has an accumulated deficit of $21,921,257 as of December 31, 2007. The Company reported a net income of $807,628 on revenues of $255,801 for the three months ended December 31, 2007, compared with a net loss of $4,256,143 on revenues of $25,084 reported during the three months ended December 31,2006. For the six months ended December 31, 2007, the Company had a $706,031 net loss, compared with a $6,290,723 net loss incurred during the six months ended December 31, 2006.
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Intellectual Property:
The Company has acquired the exclusive right to use, produce and sell a specified range of scandium alloy for golf club shafts and golf heads. The golf applications under these patent rights are U. S. Patent Nos. 5,597,529 issued on January 28, 1997, and 5,620,662, issued on April 15, 1997, initially filed by Ashurst Technologies, Inc., and acquired on January 7, 2001 by Nataliya Hearn and David Sindalovsky. The Company has also signed a new license agreement with David Sindalovsky allowing it to enter the sport fishing equipment category. [SEC Filing 10-KSB 10-12-2007]
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Description:
Element 21 Golf Company designs, develops and markets Scandium alloy golf and fishing products.
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Officers:
Nataliya Hearn, Ph.D. (Chair, Pres., CEO & Dir.); John Grippo (CFO); Sergei Bedzouik (Dir.); Mary Bryan (Dir.); Benton Wilcoxon (Dir.)
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Auditor:
Lazar Levine & Felix LLP
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Securities:
Common Stock Symbol EGLF.OB; OTC BB; 135,212,737 shares February 12, 2008.
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