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
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s