Hello, all! This is my first post after finding iHub. I'm a believer in the fundamentals and growth projections of TL$$, and have bought to hold long. Congrats to all who are riding this rocket, and thanks to all who have shared their DD (ClarkKant especially)! This stock has an Achilles heel that keeps me from putting more eggs into this single basket, though. Amazon is its biggest customer; 97%+ of their revenues according to the prospectus. It's an amazing blessing to partner with Amazon, but also a curse.
I used to be in charge of the disposition of all returns in the Catalog department (more powerful then than Amazon is now, even though returns were 50% of orders) of my local Sears store when I was young. I recall learning how Sears acquired some independent suppliers. Sears would buy more and more of a company's product, encouraging them to leverage and expand quickly to satisfy their demand, eventually becoming their largest (or perhaps only) customer. Then, they would just stop buying. Sears could afford to take such a small hit in sales amongst the universe of items they sold, and their customers would be none the wiser when a specific item was no longer available since so many alternates were.
Eventually, with little to no revenue, large expenses, and toxic debt/liquidation looming, these suppliers would agree to "an offer they couldn't refuse" by Sears. Once Sears took over, those items were available again from the newly "acquired" subsidiary.
It's unlikely Amazon would pull a similar stunt to acquire or strongarm TLSS, but it's not impossible. Of all the strengths/weaknesses everyone has brought up about TLSS (some astute, some ludicrous, and you know who you are), no one has mentioned this one! I'm in on TLSS, but nobody should be "ALL in" for this reason.
Also, has anyone found out for certain if there are any remaining debtholders who can request to be paid in stock rather than cash, and are they are limited to a max 4.99% stake like the "selling stockholders" in the prospectus? It would take a lot of them to dilute 17m shares to 500m if only 4.99% each!
