"They wrote down inventory, accounts receivable and all the goodwill and intangibles."
It APPEARS that they wrote them down. But all we can be sure of given the lack of a 12/31 Income Statement and any notes is that they had $13 million less in assets on 12/31 than they did on 9/30. It could be that they were put in moving vans and moved to Indianapolis in the dead of night like the Colts. In that case it would be less like writing them down and more like reflecting their absence.
Seriously, it screams out for an explanation (I don't follow this closely enough to know if there is one) but they must think that we are all pretty slow...filing a report with OTC Markets that is listed as Dec 31, 2013 but actually reports Sept 30, 2013 numbers while skipping over an actual annual 2013 filing and jumping to the first quarter of 2014 is a move that would embarrass even the rankest of amateur scamsters. They have brought new meaning to "OTC Pink Limited Information" and found a way to make "Limited Information" more obtuse than "No Information" at all for investors.
"I ated the purple berries"
