Replies to post #1107 on Liquid Holdings Group Inc (LIQDQ)

[Pokerpro05]

I must be reading this wrong. I'm still trying to find good news in it. Can someone point it out to me? I lost 22k in this turd.

Liquid Holdings LIQD, +51.82% , a software firm with hedge funds as clients gets the profile treatment from Neil Weinberg at Bloomberg on Tuesday and he paints an unpleasant picture of bad strategy, infighting, and sketchy numbers. Since its IPO debut at $9 two years ago, shares have tanked to less than 10 cents. Early backers are fighting with each other, missing in action, being sued or all three. Weinberg draws parallels between Liquid Holdings and other new public companies including the most important one: It never made a profit. He cites statistics that show more than 70% of initial public offerings since the beginning of 2014 have lost money, the highest number since 2000. Auditor KPMG signed off on the books but ominously noted that the scope of its review was hampered by lack of access to records, in particular regarding Liquid’s related-party dealings. That didn’t dampen initial enthusiasm from backers and investors since the 2012 Jobs Act allowed supposed job-creating small companies to go public with less audit scrutiny. A spokesperson from Liquid Holdings did not respond immediately to a request for additional comment.

-rigged-