Industrial Nanotech Inc (INTK)

[Demain]

$3 million Q1 revenues is a pump
if you actually look at the financials submitted by Stuart to replace the audited financials from Malone Bailey you will see how this pump works.
It shows that $3 million worth of sales were booked without any payment whatsoever.
It shows that INTK had over $1 million on hand to pay for the products even though the company has a negative net worth of $800,000
It shows no income tax payable even though there are multiple long-standing IRS and State of Florida tax liens

4 Signs of Accounts Receivable Fraud
https://www.meadenmoore.com/blog/iag/4-signs-of-accounts-receivable-fraud
1. slow turnover, the new "sales" are completely out of line with past performance
2. missing controls over financial reporting (the audited financials were withdrawn and hilarious financials were provided by Stuie)
3. excessive write-offs and errors The biggest "error" is making believe that there are no taxes owing and making believe that there are not IRS tax liens.
4 customer complaints.https://www.bbb.org/us/co/boulder/profile/insulation-materials/synavax-1296-90252326/complaints