Jan-Dec-2012: Total-Sales...$9,992.11. Licensing Agreement-expense...$175,000.
Steven Zales licensing concept has always been a failure. One year he pays out 175 grand and the next year the total sales are under 7 grand.
Jan-Dec 2013: Total Sales...$6,708.72.
But yet someone got $19,189.96 in Consulting Fees. And the total expenses were $68,082.41.
Jan-Dec 2014: Total Sales...$90,979.29.
But the Allowance for Bad Dept in 2014 was $490,175.72. How can that be? In the three year period; 2011-2012-2013, the total sales were under $108,000. How can you write off $490,175.72?
And BTW: Professional Fees in 2014 were $421,860.42.
Jan-Dec 2015: Total Income...$683,918.42. (Note: It states Income, not Sales...not sure why.)
And Zalemark wrote off $283,606.59 as Bad Debt. How much more Bad Debt can we expect to be written off of the "Income" in the future? My guess is a lot.
Bottom line:
Who is Zalemark selling jewelry to? Is this a means of getting inventory out of the company through fraudulent sales and then writing those sales off as bad debt later? Does the proceeds of those "write offs" somehow get back to Steven Zale and his cohorts?
Who is getting the exorbitant Professional and Consulting Fees?
Who is receiving Salaries and Wages?
Over $130,000 in missing inventory from the year end statement to the first quarter statement. Where did that inventory go?
Why aren't the desperate underwater longs posting these questions? And remember that they wouldn't be underwater if they read and questioned the financial statements and the phony press releases.
And why is the "Bid" at $0.0065? Zalemark is insolvent, led by a convicted cocaine dealing felon who plead guilty to embezzling hundreds of thousands of dollars from his wife's employer. And Zalemark has no sales, and the losses keep mounting. Nobody in their right mind would think this company can sustain itself, let alone go higher in price.
