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Prospector
Profile
3-12-001
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| Micromem Technologies, Inc. |
NAICS |
334418 |
| 777 Bay Street, Suite 1910,
Toronto, Ontario M5G 2E4,
Canada |
Description |
Electronic Assembly Mfg. |
| (416) 364-6513 |
Employees |
7 |
| http://www.micromeminc.com/home.php |
Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-2.8100 |
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Assets |
(mil) |
0.3300 |
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Liability |
(mil) |
1.8600 |
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(for the year ended 2007-10-31) |
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Category:
Loss/Deficit
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Event:
Micromem Technologies, Inc., reported a net loss of $2.81 million for the year ended October 31, 2007, much lower than the net losses of $4.06 million and $4.04 million reported during the years ended October 31, 2006 and 2005, respectively. The Company reported interest and other income of $2,586, compared to $9,930 in 2006 and $8,703 in 2005. As a result of its recurring losses, the Company's balance sheet at October 31, 2007, showed an accumulated deficit of $61.39 million and stockholders' deficit of $1.53 million. It also has strained liquidity with $329,232 in total current assets available to pay $1.86 million in total current liabilities.
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Intellectual Property:
The Company believes that protection of intellectual property is important to its ability to generate revenues from technology in the future. The Company has both issued patents and pending patent applications. It also enters into confidentiality and other agreements with third parties and employees to protect intellectual property and trade secrets. The Company intends to continue to actively pursue the protection of intellectual property. The Company's magnetic memory patent portfolio comprises three separate series of patents and patent applications: those covering technologies developed pursuant to research collaborations with the University of Toronto and OCE Inc.; those covering VEMRAM technology; and those covering HEMRAM technology. [SEC Filing 20-F 03-03-08]
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Description:
Micromem Technologies, Inc., develops magnetic random access memory (MRAM) for aerospace/defense, sensors and RFID applications.
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Officers:
Salvatore Fuda (Chair); Joseph Fuda (Pres., CEO & Dir.); Manoj Pundit (Sec. & Pres.); Dan Amadori (CFO); Cynthia Kuper (Chief Technology Officer); Andrew Brandt (Dir.); David Sharpless (Dir.); Steven Van Fleet (Dir.); Larry Blue (Dir.); Oliver Nepomuceno (Dir.)
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Auditor:
Schwartz Levitsky Feldman LLP
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Securities:
Common Stock Symbol MMTIF.OB; OTC BB; 72,946,167 common shares outstanding as of October 31, 2007.
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