Omni Health Inc (OMHE)

[BubbaInSC]

OMHE "Net Profits" = Fake sleight of hand trick.

OMHE's Accounting Trick For “Net Profits” Explained

A totally SCUMMY accounting trick to get people to think the company has “Net Profits”.

Gain From Discontinued Operations is from the sale of VitaCig products/operations/intellectual property/websites back to MCIG.

VitaCig was “sold” to MCIG in exchange for 172,000,000 shares at a par value of 0.0001/share = $17,250.00

Fair Market Value of the 172,500,000 shares was calculated as $1,078,457 or at about 0.00625/share (the approximate pps of VTCQ on about June 22, 2016

“On June 22, 2016, the Company sold off its VitaCig operations. The Company was returned 172,500,000 shares of common stock of the Company’s common stock, par value $0.0001 per share (“Common Stock”), from mCig, Inc., and was forgiven $68,123 in debt owed to MCIG in exchange for the VitaCig operations. The record date for the transaction was June 22, 2016. The transaction was completed for the purpose of legally and structurally separating the VitaCig operation from the newly acquired business and the Company’s change in direction.

The selloff of VitaCig has been presented as discontinued operations in our financial statements. The following tables represent the current assets and liabilities associated with the discontinued operations as of July 31, 2016:
”

“As of July 31, 2016, the Company has recorded a gain of $1,081,173 for its discontinued operations. The following table presents the net book value of VitaCig as of the selloff, the pro-rata value received as part of the selloff, and the net gain for the selloff of the VitaCig operations: ”



Is that scummy or what?

So, if one removes the $1,081,173.00 from “discontinued operations” from Q1 and Q2, you actually get operational losses for Q1 and Q2. The numbers are consistent w/ the operational losses for 2015.





They have liabilities of $1,670,874.00

OMHE Has only $21,858 in Cash

We had cash available of $21,858 as of October 31, 2016. Based on our revenues, cash on hand and current monthly burn rate, we believe that our operations are sufficient to fund operations through April 2017.

You remove that accounting trick and you just get a company that has operational losses and a ton of debt.

No, they will have to dilute for sure. They only have enough cash to operate thru April 2017.

Dilution is already being done and will continue to be done.

This is all about diluting to pay OMHE consultants and selling the perception that they want to improve the bottom line.

Hence, the LYING SHYSTER's King of Bait and No Execute Moniker.

It's been successful, and OMHE will use the same MO.

Le Signature, the aging cream that's been around since 2014 appears to be a re-labeled product. Andrey has an inactive Registration for Le Signature. Andrey was only able to “sell” one wholesale account to the Tijuana International Airport. Just one wholesale account sold since 2014. None of the links even work on the Le Signature website.

Le Signature is going to be Le Sauveur of OMHE.

OMHE is likely going to buy Le Signature from Andrey, the website, for $10 Million dollars? That is such a bargain. I'm so excited, because Le Signature is going to easily generate enough revenue to make up for the $75 million windfall in revenues, right? Right?

Back up the truck boyz and girlz, I be loading up with Le Signature and OMHE stock.

Operational losses, liabilities of $1,670,874.00, and only $21,858 in cash.

OMHE will be diluting to pay consultant fees, to pay Andrey for Le Signature.

Fluffy announcements in PRs that will never be realized are on the way. Bait and No Execute Reins Supreme.

For “immediate” uplisting was also used for vitacig back in the day. Never happened.