I've gone through the annual report and will break it to down if time permits. The balance sheet doesn't even come close to complying with GAAP (generally accepted accounting principles) and there are numerous inaccurate or contradictory numbers and narrative statements in the report, ESPECIALLY when compared with prior reports, many of which Val Westergard has made "inactive" on OTC Markets:
How did the value of the software and equipment assets later become so inflated in the more recent reports filed by Val?
Unless the new CFO, Stephen "Bud" Moynihan, is unaware of GAAP, he seems to be complicit in reporting false numbers.
Sadly, 83 year-old new CEO Byron Ryals also certified the report which contains blatantly false information. My impression is that he is likely someone naive enough to believe Val's claims and lend his name to the venture possibly not realizing it is a scam. I suspect he is a victim rather than a perpetrator of the fraud.
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