Not an insider but I do understand Accounting and Finance. Here is another thing to think about. One of the principles of accounting is called the Matching Principle. The statement in the document in the link states $2,000,000 for Cash, AND blah blah blah blah. But in the accounting entry, the $150,000 WAS MATCHED with the 422,000,000 shares. Where is the other $1,850,000 to be matched then? You dont make an entry in the accounting and say later oops, oh here is the other $1,850,000. The $1,850,000 should have been recorded immediately if the matching principle is applied. The question in my mind is it seems that $1,850,000 is FUTURE services (or services that has already been rendered but how is this measured?). If so, where is the Receivable recorded in the books and what is the offset? It surely is not being shown in the equity section of the balance sheet. Just my take on this of course.
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