Reeltime Rentals Inc (RLTR)

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It is garbage. Let me point out just a few things. In depth is not worth my bother.

First, where is the second quarter?

Second, Listed under assets is "Legal Expense". The same amount is listed in the "Income Statement" as an expense. Somebody has absolutely no idea of how to do accounting. How does a legal expense become an asset is beyond the pale of reason. It is possible to amortize a legal cost, but it would not show up on the Income Statement as an expense. On that discrepancy alone, the whole financial statement becomes garbage.

Third, What the hell is this "related party receivables". There is no meaningful explanation for it; much less an increase of more than 10K. If it means that somebody agreed to pay the company for shares, there should be no transaction recorded and no shares issued until paid. Thus, the amount should be in current assets--cash. If somebody agreed to lent the company money, it should not show in the books under any conditions until the money is in the hands of the corporation. In other words, it would be under "cash" and under "accrued liabilities" if anywhere in this statement.

"Accounts Payables" went up by more than 12K. That's incredible for a company with no business.

I don't need to go any further from this balance sheet part of the statement.

I am not even going to try to figure out how an expense of 7,650 ended up as an asset at the same time that it becomes part of the negative cash flow.

This is either total and complete incompetence or a meaningful attempt to obfuscate or simply a "who cares" attitude.

There is nothing in this statement that leads me to believe any different than I have in the past. It only reinforces my past viewpoints.

I am sure that the objective of the management of RLTR is to find someone who will sell their existing business for shares of stock. But considering the way they are going about it, there is little likelihood that such a party can be found. It would have to be some people like the ones who sold the coffee kiosks to BCCI.