8000 Incorporated (EIGH)

[overachiever]

"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.

Excellent point. I told everyone from the first look at their accounting that the accountant was a sleaze. It isn't hard to see why. Nothing makes sense in that garbled mess. It certainly is not accounting. One can't trust anything these charlatans say.

The CEO here, like Williams, is a stock promoter. It appears they will do and say anything to try to get people to buy into this scam. Neither of them look very ethical to me.