Replies to post #102081 on Vapor Group Inc (VPOR)

[tothamoon]

Something else would have needed to change if that were the case. If you remove expenses from the income statement, then retained earnings or some balance sheet account would have to change as well to balance. It doesn't appear anything else changed which is why it's confusing.

[pologq]

It has to go somewhere. And removing it totally off is suspect. In my company you can't just take a number away and say "oh, we fucked up". Assets and Liabilities can't just be removed. What other account is the question? Where on the balance sheet should that have gone?

I am not attacking your response. I am more attacking their response or lack thereof. To blame accounting error is suspect as it is. You have 45 days to do financials, do them right. If I was a betting man I am sure they were reviewed initially, maybe thought people wouldn't bitch or whatever and now that they got called out on it it is made to "disappear". Bad enough their financials are not verified by an independent auditing firm as well.