SOHM Inc (SHMN)

[BSNLAW84]

BANKRUPT: SHMN liquidated 100% of their manufacturing equipment and 98% of their inventory and assets, as well as terminated 97% of their workforce in the final quarter of 2015.

These facts and figures are hard to dispute when they are sitting right in all the recently published financials the company intentionally withheld for years.

As of the June 30, 2018 quarterly report: Those 2015 numbers HAVE ONLY GOTTEN WORSE.

Ms. Shah did this so she could pay off a small fraction of the millions in liabilities and unsecured loans Mr. Shah and his associates accumulated throughout his years-long fraud operation.

So SHMN lost literally everything as a result. Hard to say “settled in 2015” when they are literally a director and four custodians sitting in an empty warehouse in India. Oh, and they still have over $5,000,000 in debt, a self-calculated $2,0000,000 negative cash balance and are indefinitely suspended from business in the United States for childishly ignoring California tax law.

As a result, their revenue dropped 90-95% since Mr. Shah left (their revenue as of 2018 is entirely from selling shares and residual liquidation of existing inventory) and has been rapidly approaching ZERO.

Numbers don’t lie.