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