Industrial Nanotech Inc (INTK)

[Demain]

It doesn't take a genius for Stuart Burchill to cook the books. The tools are often simple when you present unaudited financials instead of genuine financials:
1.You can falsely and repeatedly claim that you are shipping products to Fortune 100 customers when this a complete and absolute lie.
2.Report revenue as a sale when in reality you have just kept the money and failed to deliver any products.
3.Postpone or fail to disclose and ignore reporting obligations such as multiple IRS tax liens and other legal judgments so current earnings look healthier.
4. Falsify the value of an asset. If, say, a worthless patent was purchased from a third party many years ago and you count it is a real asset. Doing that makes the company's assets look more valuable than they are. Also, you can list suspicious "loans to related parties" as assets without disclosing the details of these "loans". In addition, you can list, but not disclose source and details of the "loans from related parties" to further obscure the true dire nature of INTK's plight.
5.List questionable assets. If Industrial Nanotech has no physical presence on the planet Earth and does not maintain any inventory you can easily provide imaginary values to non-existent physical assets
https://smallbusiness.chron.com/financial-statement-fraud-57182.html
https://florida.arrests.org/Arrests/Stuart_Burchill_8376721/