Groupon IPO: Investors Beware the Unaudited Financial Statements


It’s crunch time for Groupon (GRPN). The roadshow for the company’s Initial Public Offering went live last week, and Groupon’s offering will happen this week.┬áDemand for the shares is apparently through the roof. The company was hoping to sell 30 million shares at $16 to $18 each, but word is that Groupon is now looking at increasing the offering price.

You can see the slide deck for the roadshow here. The presentation highlights the company’s massive growth, marketplace penetration, and ability to earn revenue. Continue reading

In Agreement: Sucks and Patrick Byrne is Wacky


Patrick Byrne, CEO of O.coI’ve written plenty here about perpetual money-loser (NASDAQ:OSTK) and its wacky CEO Patrick Byrne. Unfortunately, I’ve mostly lost interest in the topic. Why? It’s the same old, same old. continuously loses money for shareholders. Byrne pretends that profits are right around the corner. More money is lost. Dishonest accounting tricks are used to pretend the company made money. Financials are restated. More money is lost. Financials are restated again. More money is lost…

You see a pattern, I hope? Continue reading