You are right, the annual financial statements probably are not important since they cannot be relied upon in any manner what-so-ever.
I called the Arizona Dept of Professional Regulation (state where preparer and CFO lives) and spoke to that Department's Compliance Department. Arizona is one of three states that are "Title Only" states. A "Title Only" state only regulates financial statement preparer if they use the title of CPA or PA. It is one of the few states that do not reserve the "attestation" function to licensed CPA's.
Anyone can prepare financial statements, audit financial statements, and the financial statements do not have to be even prepared by competent parties or even by someone independent. In fact, a direct quote from the Arizona Dept of Professional Regulation, "my ten year old daughter, my hairdresser, or my mechanic can prepare and audit financial statements". "If fraud is believed, than one's only recourse is to contact the Arizona Attorney General". In other words, "Buyer Beware". They said, "why would anyone rely on financial statements prepared by someone not qualified".
As a licensed CPA, I would not give any credibility to any financial statement presentation from PV Enterprises International unless they are prepared by a licensed CPA firm with Public Company Accounting Oversight Board (PCAOB)accreditation.
PV Enterprises is years away from that type of reporting IMO.
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