Zalemark Holding Co Inc (ZMRK)

[fact-checker]

Is-this-how-Steven Zale-is-siphoning out-money? "Allowances-for-Bad-Debt"-and-"Professional Fees".

My assumption is that Zalemark is sending merchandise out to "friends". Then not collecting on those accounts payables and then writing it off as "Allowances for Bad Debt". I would like to know what merchandise was sold to those "bad debt" accounts. And the names of those bad debt accounts. It's very suspicious.

Also, who is collecting the enormous "Professional Fees"? Are these funds going to friends or relatives of Steven Zale or Raymond Ruiz? Again, very suspicious.

The investors should have a right to know. There should be an investors audit committee that verifies all expenses.

RECAP of Bad Debt and Professional Fees:

$912,000 in 2014
$556,000 in 2015
$79,000 in Professional Fees in the first quarter of this year.
Plus a new category shows up; Salaries and Wages for $52,500.

So in the first three months of this year when there was not a single sale made, $131,500 was spent on Professional Fees and Salaries and Wages. And in addition, I calculate over $130,000 is missing from the inventory levels from the end of last year to the end of the first quarter this year.

Also, let's not forget the background of Steven Zale. He is a convicted felon. He served three years in prison for selling huge amounts of cocaine. He also plead guilty to embezzling hundred of thousands of dollars from his wife's employer. He is a sloppy con man. Although he may have gotten away with other criminal activities that were never discovered.
So if you are "feeling lucky", give him money. Go ahead..."make his day".