Thursday, September 21, 2017 2:23:37 PM
It is basic Accounting 101!
In order to remain "Current-Alternative Reporting" for OTC Markets, Bobo "THE CLOWN" Linton filed KGET's Q2 2017 financial report, which included the corporate Balance Sheet! A financial report commonly includes a minimum of an Income Statement, a Balance Sheet, and a Cash Flow Statement. These documents were all submitted by Bobo. The report could have been done by a fifth grader, but THE CLOWN attested (signed) the filing as being "truthful"! If the Balance Sheet numbers were blatantly misstated, it can be construed as a criminal and/or civil offense!
If there was never a "real" deal to acquire 51% Country Junction Farms, which can easily be determined by reviewing an actual signed acquisition agreement, then showing a Balance Sheet Asset of $1.75 million is a "blatant lie" and purposely misstates the company's financial condition! "Ignorance" is not a defense! This is further supported by the notion that there was no offsetting $1.75 million Liability on the Balance Sheet!
There are several other "misstatements" in the financial reports, going all the way back to flurry that were filed just after KGET was DE-REGISTERED with the SEC in December of 2016! Again, with regard to Bobo, "ignorance is not a defense"! For verification of the accounting misrepresentations, it would be good to take some time to review all of the KGET's financial reports dating back to Q3 2014!
KGET's history of filings, including the past reports, can be found at http://www.otcmarkets.com/stock/KGET/filings. For a real OTC investor, the financial reports can be a fascinating read.
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