Tuesday, April 17, 2018 12:14:59 PM
The penalties for lying in financial statements are quite high. In PRa, they have a nice Safe Harbor defense for Forward-Looking-Statements, like the implicit expectation that Purchase Orders will translate into actual revenues.
As I often say, the company's PRs will always be about Good News. The Bad News are only revealed in the Financials.
From my point of view, the CEO is aiding and abetting the mega-dilution of his company's stock. Case in point, his announcement of a bogus "shares repurchase program" at the same time he was borrowing heavily, and the debt covenants he's signing preclude any meaningful share repurchases until the debt is paid back in full.
That would make him a deliberate liar to his (hapless) shareholders.
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