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Calmare Therapeutics Incorporated Message Board

  • rrtzrealmd rrtzrealmd Aug 24, 2011 10:50 AM Flag

    Whatever happened to...

    ...David Guenthner?...he used to be listed as a "sales representative" on the calmarett website...I previously posted some sarcastic comments how CTT must have been recruiting at an AA meeting judging by the way he looked in his picture:

    http://www.bsmexecutiveadvisor.com/index.html

    ...I don't see his name anymore so I guess CTT parted company with him...too bad because I stumbled across this:

    http://www.sec.gov/litigation/complaints/complr17297.htm

    ...HAW!!!...only a small part of what it says:

    "1. David C. Guenthner, the chief financial officer of InaCom Corp., and Jay M. Samuelson, InaCom's assistant controller, engaged in a scheme to manage earnings in InaCom's 10-Qs filed with the Securities and Exhange Commission on or about May 11, 1999, August 10, 1999 and November 9, 1999.

    2. During the first three quarters of 1999, Guenthner and Samuelson improperly accrued unallocated, general reserves, then reversed $7.1 million of these reserves into income in the third quarter of 1999. These unjustified reversal of reserves in the third quarter of 1999 lacked any credible basis.

    3. Also in the third quarter of 1999, Guenthner and Samuelson knowingly posted $10.8 million of inventory cost reductions that related to prior quarters, thereby further artificially inflating income in the third quarter of 1999. Because of these inappropriate accounting practices in the third quarter of 1999, the company reported a profit when in reality the company had suffered a loss.

    4. In addition, throughout the first three quarters of 1999, Guenthner caused InaCom to recognize manufacturer rebates to which it was not entitled, thereby understating its cost of goods sold and overstating net income. This inclusion of these improper manufacturer rebates overstated InaCom's income by more than $13 million in its 1999 10-Qs."

    ...HAW!!!...so, let's see, CTT hired Kocherans who was sued by the SEC and who ended up paying 50 grand before hitting the road to Utah...and then they hired Guenthner too?...hmmmmmmm...do I detect a pattern here?...so instead of AA meetings, does CTT do its recruiting at the SEC fraud counter of the federal district courts?...HAW!!...only CTT!...

    ...hmmmmmmm..."lacked any credible basis"???..."artificially inflating income in the third quarter"???...what do those remind me of?...hmmm...would those be anything like reporting selling bugzappers one quarter and then taking them back and reporting selling them AGAIN a year later to the same people?...HAW, HAW, HAW!!!...

 
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