Yes financials prepared by someone with no knowledge of any level of proper accounting. Evidently they just punched in some numebrs on quickbook without knowledge of UDS GAAP principles or even common sense.
Look at the footnotes, evidently at some point they decided to copy footnotes form other companies to make them look better. So all of a sudden they inserted footnote saying statements were prepared according to GAAP- even though they dont know what GAAP means.
But since company has no funds even for a basic bookeeper with common sense, and the CEO has evidently no college training at all in business, it is not surprising financials don't make much sense.
But really negative assets ? What about expenses- even if CEO is covering, why dont regular expenses to maintain a company show up ?If they have bought businesses as they claim, where is footnote and accounting to reflect that ?
What is more of a concern is if CEO doesnt grasp fundamental accounting principles, how can he negotiate $500 million deals ?
The MBA we know is fake, and it looks as though the associate and bachelor degrees claimed are also probably fake. Financial statments are not GAAP as they claim to be. The CEO should step back and consider whether this is way to build credibility.
first step to stop claiming degrees that are fake,and second account of the "negative assets" one way of another.Then do a reverse, then focus on one thing the CEO may have expertise in or appoint new administrative people.Not rocket science investors dont like company CEO claiming a degree that was purchased form diploma mill !
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