SK3 Group Inc. (SKTO)

[I-Glow]

The information you are posting about the financials isn't accurate.

First, the financials are incomplete - there isn't a balance sheet or statement of Income.

What you are referring to as revenue is accounts receivable from contracts that don't exist.

For the year SKTO states it has $52 million in revenue but Zero Cost of Sales - this is impossible.

In Q3 SKTO had written of $12 million out of the $36 million in "revenue" - that is one third (1/3) of the revenue is non-collectable. But, in the annual report or Q4 SKTO has written of $25 million as bad debt from a total of $52 million in "revenue" - that is one half of the revenue non-collectable. That is a disastrous financial statement.


There has to be a cost to servicing and maintaining the contracts.

So what is the amount collected from the AR for 2013?

As TenKay pointed out when you add the bad debt $25 million to the receivables $27 million you have AR collected for the entire year of $275,000.

That is less than 0.5% of the total AR/Revenue.

No way to put lipstick on this pig.

IG