Zalemark Holding Co Inc (ZMRK)

[fact-checker]

$195,909 Accounts Receivable hasn't changed in-well-over 6 months. Not one cent was collected on these receivables. Who owes this money? And for what? On the 2015 year-end financials Zalemark wrote off $283,609.59 as uncollectible. It's quite obvious that whoever Zalemark is selling merchandise to, its either for less money than Zalemark paid for those goods. OR, they are selling "so called customers" to "launder" money back to themselves when they write off those receivables as Allowance For Bad Debt at a later date.

Which leads me back to the $195,909; when will this amount be written off? The reality is that any sales made by Zalemark are "tainted" and certainly not legitimate. It looks to me like they make sales to generate revenue on their books...but they have sold merchandise for less money than it costs them. Additionally, ZMRK could sell it at any price because they know that sale will be written off at a future date. The more closely I look at the financial statements the more red flags keep showing up.

Remember, Zalemark is led by a convicted felon who served three years in prison for selling huge amounts of cocaine. He also plead guilty to embezzling hundreds of thousands of dollars from his wife's company. And, also something about carrying a gun while a felon. A real "no-no".