 |
| | Business Summary: Ensurapet, Inc., a development stage company, provides pet health information services to pet owners, veterinarians, animal healthcare professionals, and pet service providers primarily in the United States and the United Kingdom. | | | Address
540 N. Golden Circle, Suite 304
Santa Ana
, CA 92705
Phone: 877-440-7387
Website: http://www.ensurapet.com
| | Auditor |
|---|
Lawrence Scharfman CPA
| | Transfer Agent |
|---|
Madison Stock Transfer Inc.
| Employees: 4
ShareHolders: 880 | Founded: 2005
Domicile: Nevada | | | |
| | Ensurapet, Inc., a development stage company, provides pet health information services to pet owners, veterinarians, animal healthcare professionals, and pet service providers primarily in the United States and the United Kingdom. Its health information services include life and health insurance for pets, horses, and other companion animals through public online portals. The company offers online animal healthcare information, decision-support applications, communications services, and insurance applications that enables pet owners to obtain information on diseases or conditions, analyze symptoms, locate veterinarians, store their pet's healthcare information, receive periodic e-newsletter, and participate in online communities with pet owners and veterinarians. Its services also enable users to access clinical reference sources, learn about treatment options, and communicate with peers; and enables pet owners, veterinarians, insurance agents, and employer and employer/group organizations to provide employees and members with access to pet life and health insurance plans for companion animals. Its public portals include ensurapet.com; vetpetmd.com; purrfectpetclub.com; spotthepet.com; purrfectpetinsurance.com; and purrfecthorseinsurance.com. The company, formerly known as Vsurance, Inc., was founded in 2005 and is based in Santa Ana, California. | | History: INCORPORATED in Nevada July 26, 2005. Name changed from Vsurance, Inc. to Ensurapet, Inc. Feb. 19, 2008. | | | | Subsidiaries: |
|---|
Vsurance Insurance Agency, Inc.
| | | | | | Capital Expenditures, thousand. US Dollars |
|---|
| Year | Amount | | 2006 | 140 |
| | | | | |
|
Management
|
|---|
| Officers | Position |
|---|
| W. Russell Smith, III | Chairman & Chief Executive Officer | | Malcolm L. Pollard | Secretary & Treasurer |
| | Directors |
|---|
| Allen A. Hayes | | Ann M. Perniciaro | | Malcolm L. Pollard | | W. Russell Smith, III | | | |
| | | | Capitalization as of 03/31/2008: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Preferred $0.001 par | 21,100,000 | 100,000so1 | | Common $0.001 par | 500,000,000 | 29,762,750 |
| | | | LONG TERM DEBT: $1,000,000. | | | | Common $0.001 par | | | | COMMON OFFERED: October 27, 2006, the company offered a minimum of 500,000 Common shares and a maximum of 25,000,000 Common shares at $1.00 per share in a self-underwritten offering. On Oct. 27, 2006, a total of 500,000 Common shares were sold through the conversions of debt instruments totaling $500,000. | | | |
Stockholders:
03/25/2008,
880.
| | PRINCIPAL STOCKHOLDERS: January 30, 2008, W. Russell Smith, III owned or controlled 53% of the Common. | | | |
Transfer Agent: Madison Stock Transfer Inc.
Brooklyn
, NY | | | | OTC Bulletin Board( Primary): EPTI | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2007 | 180.0000 | 0.0030 |
|
| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-80, Aug. 14, 2007.
Common reverse split 1-for-1,000, Feb. 19, 2008. | | | | | |
so1Consists of Class D shares. | |
| | Annual Report |
|---|
| | | Income Statement | |
| 2007 | 2006 |
|---|
| Revenues | $47,848 | $4,019 | | Marketing expenses | 160,862 | 297,636 | | General and administrative expenses | 6,116,355 | 3,768,602 | | Income (loss) before taxes | (6,229,369) | (4,062,219) | | Abandonment loss | 561,680 | -- | | NET INCOME (LOSS) | $(6,791,049) | $(4,062,219) | | Earnings Per Share |
|
| | Basic | $(3,747.82) | $(9,337.87) | | Average shares | 1,812 | 435 |
| | | | Balance Sheet | |
| 2007 | 2006 |
|---|
| ASSETS |
|
| | Current Assets |
|
| | Cash and cash equivalents | $15,757 | $107,047 | | Commissions receivable | 751 | 1,025 | | Prepaid expenses | -- | 496,667 | | Total Current Assets | 16,508 | 604,739 | | Property and equipment - net | 43,957 | 129,286 | | Software | 122,214 | 460,434 | | Trademarks | 25,576 | 22,390 | | Vet MD data base | 105,000 | 105,000 | | Goodwill | -- | 415,000 | | Total Assets | $313,255 | $1,736,849 | | Current Liabilities |
|
| | Accounts payable | $132,765 | $578,656 | | Accounts payable - in dispute | 1,201,880 | -- | | Line of Credit | 48,001 | 49,173 | | Note payable | -- | 4,025,000 | | Accrued interest | -- | 58,333 | | Accrued wages | 24,573 | -- | | Shareholder advances | 334,737 | -- | | Loan extension fee payable | -- | 500,000 | | Current portion of long-term debt | 1,263,875 | 55,000 | | Total Current Liabilities | 3,005,831 | 5,266,162 | | Note payable | 1,000,000 | 175,000 | | Preferred stock | 12,810 | 6,991 | | Common stock | 3,112 | 3,692 | | Additional paid in capital | 8,223,220 | 1,425,672 | | Deficit accumulated during the development stage | (11,931,718) | (5,140,668) | | Total Stockholders Equity | (3,692,576) | (3,704,313) | | Total Liabilities and Stockholders Equity | $313,255 | $1,736,849 | | Preferred Shares | 12,810,000 | 100,000 | | Common Shares | 3,112,750 | 65,200,258 |
| | | |
| | Interim Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
|
|---|
| | | Quarterly Revenue, US$ |
|---|
| Year | Quarter | Revenue | | 2008 |
1 | 20,000 | | 2007 |
1 | 10,000 | | 2007 |
2 | 10,000 | | 2007 |
3 | 10,000 | | 2007 |
4 | 30,000 | | 2007 |
Full Year
| 50,000 | | 2006 |
Full Year
| Nil |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2008 |
1 | (180,000) | | 2007 |
1 | (1,360,000) | | 2007 |
2 | (2,890,000) | | 2007 |
3 | (890,000) | | 2007 |
4 | (1,660,000) | | 2006 |
Full Year
| (4,062,200) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2008 |
1 | (.03) | | 2007 |
1 | (#######) | | 2007 |
2 | (#######) | | 2007 |
3 | (13.63) | | 2007 |
4 | (.53) | | 2007 |
Full Year
| ####### | | 2006 |
Full Year
| (#######) |
| | | |
| |
|
