SHOM's "financial statements" are quite ridiculous and pretty obviously a cut and paste job.
Since SHOM is not an SEC registrant and just a paid client of OTCMarkets, we assume the financial statements are not accurate. But SHOM's are bad even by the no-standards of OTCMarkets. They are clearly fabricated.
The first balance sheet has the wrong date - it is listed as "For the year ended December.30,2016". Nice to be able to see in to the future. I don't understand the formatting of the date, either. The columns are not even close to being aligned. They also have a "suspense account" as an asset, which it really isn't. That is really just a meaningless make-good they use to make the numbers balance. Hilariously ridiculous.
The Company claims to have $200K in revenues for the period, but not a penny in liabilities? Impossible.
The Notes are all cut and pasted. They use several different fonts, font sizes, and line spacings. Some are single and some are multiple spacings. Some are right justified, and some are not. They just cut paragraphs from other Company's "financial statements" and pasted them in without correcting the original formatting.
They also claim the "unaudited financial statements are being prepared internally in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission." That is a lie. They are not even close to being either GAAP compliant or compliant with Regulation S-X.
Oddly, after the first set of "financial statements", they repeat just the income statement and cash flow statement, but the header for both is for the balance sheet. Weird.
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