Are financials due Feb 29th?-no
They have 90 days past the end of year, or 31-Mar, before the OTC Market Group tags the ticker with the dreaded "STOP" sign. Of course if Porter doesn't care if the STOP sign gets applied, and then files in Jul to get it removed, he has that option.
The incentive the OTCMG gives the scammer is the idea, that if they dump, without a bogus filing to the OTCMG, they would be in violation of Rule 144. As per insider trading on undisclosed (e.g. no) information. I've yet to find an example of the SEC nailing an unregistered stock on that basis.
More likely, the incentive to get rid of the STOP sign is psychological. A scammer knows having a STOP sign being displayed may make the naive hesitate to jump into the scam.
Whenever Porter gets around to paying the OTCMG their fee, and files some bogus crap with them, that could be an indicator a paid P&D is not far away. Or he could crank one up fast before the horrible STOP sign appears.
BTW - Using the word "financials" is a joke for a Pinky.