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IBIS Technology Corporation
Finance & Accounting
Pages 6 (1506 words)
IBIS Technology Corporation Auditor’s Report: Doubt in Ibis’s Ability to Continue Operating as a Going Concern Name: Course: Date Instructor: Professor DeSalvo 1.0 Introduction Ibis Technology Corporation is in the business of developing, manufacturing and marketing Separation by Implantation of Oxygen – a form of silicon-on-insulator (SIMOX-SOI) technology for the global semiconductor industry.
This required the development of a new generation of oxygen implanter – the i2000. The i2000 was developed to support the SIMOX-SOI 300 mm wafers in order to satisfy the global semiconductor industry (Ibis 7). Ibis believes that it offers significant advantages over silicon wafers that are constructed on conventional silicon wafers which make them ideal for a number of commercial applications. This applications include: servers and workstations; desktop and portable computers; various entertainment devices such as game consoles and televisions; wireless communications and battery powered hand held devices which have a lot of features such as cell phones; and electronics that can be used in harsh environments (Ibis 2-3). Ibis was incorporated in Massachusetts in October 1987 and started operating in January 1988. In the initial stages most of the company’s revenue came from research and development contracts and the sale of wafers for military applications (Ibis 3). At times there are shifts to the sale of equipment. However, in 2004 Ibis stopped manufacturing wafers and concentrated on supplying equipment and process technology to their customers who purchase equipment. Their customers are major producers of silicon. ...
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