8000 Incorporated (EIGH)

[loanranger]

"3. EIGH ACCOUNTING LOOKS VERY BOGUS."

In the Cash Flow Statement, it would appear that the increase in Receivables is added to and the increase in Accrued Liabilities is subtracted from the Net Income number in arriving at the new cash balance. This is the reverse of the proper calculation and makes no sense at all.

Looking back at Q1, Revenues are shown as a Balance Sheet item. This makes even less sense.


I've seen enough.
Pink Sheets clearly relies TOTALLY on the company's own certification of their financials and does not even look at them prior to assigning the "Current Information" designation. Even their disclaimer isn't enough in this case:

"The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk. This category includes shell or development stage companies with little or no operations as well as companies without audited financials and as such should be considered extremely speculative by investors."