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Prospector
Profile
3-29-002
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| ANTs Software, Inc. |
NAICS |
518210 |
| 700 Airport Boulevard, Suite 300,
Burlingame, CA 94010 |
Description |
Data Processing Services |
| (650) 931-0500 |
Employees |
31 |
| http://www.ants.com/ |
Revenue |
(mil) |
0.3600 |
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Income |
(mil) |
-16.3100 |
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Assets |
(mil) |
5.9400 |
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Liability |
(mil) |
10.9800 |
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(for the year ended 2007-12-31) |
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Category:
Audit Concerns
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Event:
Burr Pilger & Mayer LLP raised substantial doubt about the ability of ANTs Software, Inc., to continue as a going concern after it audited the company's financial statements for the year ended December 31, 2007. The auditing firm pointed to the Company's recurring losses from operations, stockholders' deficit, and cash flows used in operating activities. The Company posted a net loss of $16,313,223 on total sales of $359,706 for the year ended December 31, 2007, as compared with a net loss of $15,125,903 on total sales of $287,832 in the prior year. At December 31, 2007, the Company's balance sheet showed $5,939,803 in total assets and $10,984,683 in total liabilities, resulting in $5,044,880 stockholders' deficit.
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Intellectual Property:
The Company has developed several patented technologies, all of which relate to ANTs Data Server (ADS) and several proprietary and patent-pending technologies that relate to both ADS and ANTs Compatibility Server (ACS). The Company has filed 13 patent applications to obtain protection for its intellectual property. The Company has been granted 6 patents. The remaining 7 applications are pending and the Company awaits the Patent and Trademark Office’s action on those. The Company also claims copyright, trade secret and trademark protection in aspects of its business and technology and new intellectual property is under development on an ongoing basis. [SEC Filing 10-K 03-17-08]
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Description:
ANTs Software, Inc., engages in the development and marketing of relational database management system in the United States.
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Officers:
Joseph Kozak (Chair, Pres., & CEO); Clifford Hersh (Managing Dir. & Chief Scientist);
Kenneth Ruotolo (CFO, EVP-Finance & Admin, & Sec.); Jeffrey R. Spirn, Ph.D. (VP-Research and Develpment)
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Auditor:
Burr Pilger & Mayer LLP
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Securities:
Common Stock-Symbol ANTS.OB; OTC BB;
57,398,445 common shares outstanding as of February 29, 2008.
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