The company is a scam. Great recommendation :roll: :shock:
Friends of yours ?
Quotes from the 10 K :arrow:
Other than the expired patents covering EMP technology, the Company does not own any other United States and foreign patents. Patent applications when filed, however, may not result in issued patents or, if they do, the claims allowed in the patents may be narrower than what is needed to protect fully our products, processes and technologies. Similarly, applications to register our trademarks may not be granted in all countries in which they are filed. For our intellectual property that is protected by keeping it secret, such as trade secrets and know-how, we may not have adequate measures to protect this intellectual property.
As of May 31, 2007, our total assets of $980,701 included a $523,386 equity investment in the Etruscan joint venture.
In September of 2000, the Company received a subpoena for documents and for the testimony of its Chairman, Norman Haber, from the Securities & Exchange Commission, regarding an investigation of Orex Gold Mines, a public company located in Florida. The Company had entered into a written agreement with Orex Gold Mine for the sale of a non-exclusive license of the Haber Gold Process. With the assistance of corporate counsel, the subpoenas were fully complied with. The Company does not believe that the investigation will have a material adverse effect upon the Company.
2007 (1) 2006 (1) 2005 (1) 2004 (1) 2003 (1) 2002 (2)
BALANCE SHEET DATA:
Cash and cash equivalents $ 269,717 $ 26,112 $ 49,349 $ 50,077 $ 269,105 $ 766
Working capital (deficit) (55,899 ) (311,416 ) (59,894 ) (112,342 ) 114,165 (124,030 )
Total assets 980,701 471,722 184,259 177,942 345,539 85,521
Total liabilities 757,767 705,306 306,878 341,875 333,751 400,199
Stockholders’ equity (deficit) 222,934 (233,584 ) (122,619 ) (163,933 ) 11,788 (314,678 )
As a development stage company for the period from December 2, 1979 through May 31, 2007, there has been no income tax paid by the Company.
Nearly 30 year old company and still struggling with that majic formula.
This list could go on forever. If you want facts don't trust the hype and media. Certainly not just a web site that looks pretty. What's my source you ask ? Well the UNITED STATES SECURITIES AND EXCHANGE COMMISSION 10 K. Seems Uncle Sam don't take Kindly to filing false reports to the SEC. :arrow: http://www.otcbb.com/asp/Info_Center.asp ( Click form 10-K )
Here's you next REAL company to watch. :arrow: http://www.intec.com.au/?/Technology/Gold_Process