RVBD » Topics » 1. Operations

These excerpts taken from the RVBD 8-K filed Apr 30, 2009.

1. Operations

Mazu Networks, Inc. (the “Company”) was incorporated and commenced operations as a Delaware corporation on May 23, 2000, and is engaged in the development and sale of network infrastructure software.

The Company is subject to risks common to technology-based companies including, but not limited to, the development of new technology, development of markets and distribution channels, dependence on key personnel, and the ability to obtain additional capital as needed to meet its product plans. The Company has a limited operating history and, due to the Company’s stage of development, it has incurred significant operating losses since inception. The Company has incurred cumulative losses to date, and expects to incur a loss in fiscal year 2008. The Company’s ultimate success is dependent upon its ability to successfully develop and market its products.

1. Operations

Mazu Networks, Inc. (the “Company”) was incorporated and commenced operations as a Delaware corporation on May 23, 2000, and is engaged in the development and sale of network infrastructure software.

The Company is subject to risks common to technology-based companies including, but not limited to, the development of new technology, development of markets and distribution channels, dependence on key personnel, and the ability to obtain additional capital as needed to meet its product plans. The Company has a limited operating history and, due to the Company’s stage of development, it has incurred significant operating losses since inception. The Company has incurred cumulative losses to date, and expects to incur a loss in fiscal year 2008. The Company’s ultimate success is dependent upon its ability to successfully develop and market its products.

As shown in the financial statements, at December 31, 2007, the Company has a cash and cash equivalents balance of $2,101,992 and an accumulated deficit of $47,839,320. In March 2008, the Company issued 22,593,765 shares of Series D Preferred Stock resulting in proceeds of $5,000,000. Management believes the Company has sufficient cash resources to continue as a going concern through at least January 1, 2009, based on expected operating results. Should revenues not materialize at planned levels, or additional financing be unavailable to the Company in the future, management would restrict certain planned activities and operations, as necessary, to sustain operations through this period.

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Apr 30, 2009
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