Industrial Nanotech Inc (INTK)

[Demain]

Fictitious Sales to Lowe's and ExxonMobil

Accounts Receivable is not actual money in the bank. Stuart can fabricate invoices and tweet imaginary sales to 800 pound gorillas, which will inflate accounts receivable and assets. Also, keep in mind that the IRS and State of Florida have liens on any and all assets of INTK.

Red flags for this type of fraud are invoices to fake customers or invoices that do not match the type of business a customer might generate. At some point, these invoices might simply disappear as part of the fraud and go undetected.

https://blog.apruve.com/6-types-of-accounts-receivable-fraud#:~:text=Fictitious%20Sales,the%20same%20as%20receiving%20cash%3F