Thursday, August 17, 2017 8:35:19 AM
You know why? Because it means that the PR issued by OMHE regarding $1 million in net income was outright WRONG. IMO, that use of unethical accounting practices resulted in not only misleading information but outright WRONG information about OMHE.
http://www.marketwired.com/press-release/omni-health-inc-reports-10m-net-income-16m-consolidated-proforma-income-1st-quarter-otc-omhe-2190096.htm
Omni Health, Inc. Reports $1.0M Net Income and a $1.6M Consolidated Proforma Income for 1st Quarter of Fiscal Year 2017
Take away the cooked up "Net Income from discontinued Operations" of $1,081,173 and POOF, there goes the fake "Net Income" of $1 million.
IMO, the error wasn't a mistake. It was done on purpose to appease minority VTCQ shareholders who ended up w/ a single pharmacy store in the ghetto of FL and to mislead people into thinking they had $1 million in cash hanging around.
Lastly, this information was later used to project $80 million in Revenues for OMHE. We all know how that turned out, eh?
I wonder what kind of creative accounting will be used in their late SEC filing??
https://www.sec.gov/Archives/edgar/data/1604906/000160987617000005/omnihealth10q103116.htm
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