How to Read a 10-K Like a Short Seller
A four-layer 10-K framework tests revenue timing, receivables, reserves and depreciation against cash flow, using Hertz’s 2012-14 accounting as a case study.
A four-layer 10-K framework tests revenue timing, receivables, reserves and depreciation against cash flow, using Hertz’s 2012-14 accounting as a case study.
Solitron Devices $SODI 10-K filed after close. Improved Q4 as we said in our press release. Gross margin of 41% in Q4. https://t.co/lZgDHy71CQ
Another great quarter from $WEBC with accelerating top line and gross margin expansion. Company continues to buy back and refresh buyback. https://t.co/w22AeWh2pH https://t.co/BK1bO8vt37
Don't normally focus on sellside notes but in this instance Pablo Zuanic is on point re: $MAPS https://t.co/5ZgejaYBR7
Newest out. Imperial Brands: Solemn "H1'26 note" $IMBBY $LOG $PM $BTI $MO $STG $HAYPP https://t.co/I4RBnYWMGS
$TIPT filed an 8-K this morning where they said they expected the Fortegra deal to close by Friday 5/29. Pro forma TBV is ~$24/share, stock last 17.17.
@wamackey88 Management is the only constituent to have benefited from this grift that is $BCOW
$POET $2.5B market cap Canada-based (formerly TSXV-listed) semi component designer. Perennially on the verge of commercialization ($1.4M LTM sales, hemorrhaging cash). Heavily promoted into a $400M offering on 5/18. Dubious order w related party, FEOC, PFIC, among many issues.
@Stl_MAR @Catahoula_Value I think (from past close experience) that the family calling the $TRCY shots is hopelessly inept. Doesn’t mean they won’t sell it at some point but they have turned away some great alternatives.
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CareCloud may attract a private-equity buyer after its Q3 call, with acquiring enough shares the main obstacle to a take-private deal.
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Hain Celestial sold its North American snacks business for $115 million as declining sales and EBITDA left $558 million of secured debt…
DGXX · short
Kingstone Company is replacing quota-share cessions with catastrophe reinsurance, lifting quarterly EBIT margin to 29% from a 24% sector…
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Elutia’s antibiotic-eluting surgical matrices target breast-surgery infections, with Minot Light valuing $100 million in sales at a…
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Gloo's $3.25 follow-on, going-concern warning and $28.0 million first-half cash burn frame the short case against its acquisition-driven…
Tower Properties, $TPRP, went dark after a 2006 squeeze-out cut holders below 300, leaving a Kemper-controlled apartment and office…
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