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Prospector
Profile
3-28-002
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| MediStem Laboratories, Inc. |
NAICS |
541710 |
| 2027 East Cedar Street, Suite 102,
Tempe, AZ 85281 |
Description |
Biotechnology |
| (954) 727-3662 |
Employees |
4 |
| http://www.medisteminc.com/ |
Revenue |
(mil) |
2.5000 |
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Income |
(mil) |
-2.5100 |
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Assets |
(mil) |
1.7800 |
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Liability |
(mil) |
0.1400 |
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(for the year ended 2007-12-31) |
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Category:
Audit Concerns
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Event:
Malone & Bailey P.C. expressed substantial doubt about the ability of MediStem Laboratories, 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 notes that the Company has had limited operations and have not commenced planned principal operations. The Company had a net loss of $2,509,745 on revenues of $2,503,456 for the year ended December 31, 2007, much lower than the net loss of $3,792,979 on revenues of $319,408 reported for the year ended December 31, 2006. The Company's balance sheet at December 31, 2007, showed an accumulated deficit of $9,231,745.
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Intellectual Property:
The Company's current intellectual property portfolio consists of 15 patents pending. The Company's trade secrets and know-how cover ways of generating and using adult stem cells in a variety of clinical settings. Through licensing, the Company can generate revenues while simultaneously gaining access to invaluable clinical data that will strengthen its ability to generate meaningful intellectual property and to enter the United States market. [SEC Filing 10-K 03-10-08]
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Description:
MediStem Laboratories, Inc., focuses on the clinical application of adult stem cells, as well as the administration of adult stem cells.
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Officers:
Neil H. Riordan (Chair, Pres. & CEO); Chris McGuinn (VP & COO); Steven M. Rivers (CFO); Roger M. Nocera (Dir.); John Peterson (Dir.); Scott Sullinger (Dir.)
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Auditor:
Malone & Bailey P.C.
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Securities:
Common Stock-Symbol MDSM.OB; OTC BB;
133,527,122 common shares outstanding as of February 29, 2008.
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