Comments on: Overstock.com’s mounting accumulated losses

By: Overstock.com admits they’re clueless about the accounting rules | Sequence Inc. Fraud Files Blog

Fri, 13 Nov 2009 15:25:36 +0000

[...] But never fear! Byrne says his employees are a bunch of Boy Scouts, so we should pay no attention to their accounting fiasco. This is a kind of a “pay no attention to the man behind the curtain” defense. The company has never been able to produce accurate financial statements, their accounting treatment of many items has been questionable at best (and outright fraud at the worst), and Byrne is too busy chasing around an imaginary Sith Lord to actually run his company. [...]

By: Gross incompetence at Overstock.com | Sequence Inc. Fraud Files Blog

Sun, 17 May 2009 16:14:04 +0000

[...] Overstock.com (NASDAQ:OSTK) and its “colorful” CEO Patrick Byrne have a history of something…. At worst, it’s a history of misleading investors with false information, incomplete and inaccurate disclosures, and phony accounting measures. At best, it’s a history of gross incompentence that will never be overcome. [...]

By: Overstock.com: What’s $10 million more in losses? | Sequence Inc. Fraud Files Blog

Sun, 17 May 2009 16:12:42 +0000

[...] Since 2000, Overstock.com has never had a profitable year. The only two quarters which ended up in the black are suspect… And since 2000, the company has accumulated losses over $239 million. [...]

By: JB

JB — Wed, 23 Jul 2008 12:04:07 +0000

You can tack on another $30 million of unrealized capital losses from Skippy’s misguided share buy-backs.

By: Tracy Coenen

Tracy Coenen — Tue, 22 Jul 2008 23:23:32 +0000

Yeah, I did have to add the “if you believe their numbers” disclaimer because we know how fond Patrick is of misstating the financial results.

By: Sam E. Antar (former Crazy Eddie CFO and a convicted felon)

Sam E. Antar (former Crazy Eddie CFO and a convicted felon) — Tue, 22 Jul 2008 22:40:40 +0000

In Overstock.com’s only two profitable quarters ever (Q4 2002 and Q4 2004), the company’s reported profits were overstated due to its intentional revenue accounting error uncovered by the SEC Division of Corporation Finance in 2008.