The VDSC statements are disclosed as unaudited so I'm not sure it would be considered a felony to publish them. The Arizona Board of Accountancy might have a problem with Steinback representing himself to the public as an "auditor" however.
However, it is a violation of securities laws to publish false financial statements. With the SEC's stepped-up activities regarding microcap fraud, a growing number of companies have been suspended, one of the main reasons being "questions about the adequacy and accuracy" of financial statements.
Another major trigger is false and misleading press releases. VDSC is vulnerable for suspension in that aspect as well.
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