REXlot (555 HK): Betting on a Pipe Dream, by Anonymous Analytics; REXLot has used convertible bond offerings to finance dividends and acquire suspect companies with no discernable assets or operations

REXLot Holdings: Betting on a Pipe Dream,by Anonymous Analytics
  • We believe REXLot has made materially false representations to the market. Our analysis of third-party documents, SAIC filings, and market share data shows that REXLot generates only a fraction of the revenue it publicly reports.
  • REXLot’s de minimis  interest income suggests its publicly reported cash balance is grossly exaggerated.
  • Since 2010, REXLot has been cumulatively free cash flow negative. REXLot has used convertible bond offerings to finance dividends and acquire suspect companies with no discernable assets or operations

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