In the report shown below, we discuss why we believe:
- Ebix’s Accounting is Unreliable, Inaccurate, and Incomplete (there’s a large undisclosed related party loan, for starters)
- The Tax Strategy is a Sham in Fact or Sham in Substance
- Ebix’s Stock Deserves to be Halted, until the SEC filings are Reliable, Accurate, and Complete (the 2010 & 2011 10Ks were submitted before the Singapore subsidiary’s 2010 financial statements were signed off)
- Shares are Worth No More Than $5
- The Robin Raina Foundation’s IRS Filings Are Not Reliable, Accurate, or Complete
[...] Systems, are down $4.32, or 23%, at $14.75, following a negative 46-page report this morning, posted online, by Gotham City Research LLC that claims that the company’s “accounting is Unreliable, [...]