• Overstock Continues to Mislead Investors With Phony EBITDA Calculation

    In the past, I’ve discussed the improper EBITDA numbers reported by Overstock.com (NASDAQ:OSTK). It comes as no surprise that the con game continues with Overstock’s latest reported numbers. The SEC rules are very simple. “EBITDA” refers to a specific calculation, […]

  • Overstock.com is Doing Better if EBITDA is Worse Than They Reported?

    This level of logic from the supporters of Patrick Byrne and his supporters is pathetic. Sam Antar has brought up the issue of Overstock.com’s (NASDAQ:OSTK) violation of SEC regulations in reporting EBITDA. The result of that improper reporting? EBITDA is […]

  • Patrick Byrne, CEO of Overstock.com Is a Crook, According to Himself

    According to a transcript of an interview that Overstock.com (NASDAQ:OSTK) CEO Patrick Byrne did with CNBC in 2004, he is a crook. Here’s the relevant portion: Interview: Patrick Byrne, chairman and CEO of Overstock.com, discusses the company’s revenues and earnings […]

  • Overstock.com Materially Overstates EBITDA

    Sam Antar has a great article today on Overstock.com (NASDAQ:OSTK) continuing to overstate EBITDA. Specifically, Sam says: In Overstock.com’s Q1 2008 earnings release and 10-Q report the company continued to improperly remove from its EBITDA calculation, certain stock-based expenses in […]

  • Overstock.com: Pretend Accounting Measures Muddy the Waters

    I present for you today one (just one) example of the accounting shenanigans at Overstock.com Inc. (NASDAQ:OSTK) to demonstrate the deception of management. This accounting concept is quite elementary, and it is called EBITDA. EBITDA = Earnings Before Interest, Taxes, […]

  • More on the Overstock.com Accounting Shenanigans

    This year, Patrick Byrne and company have taken a liking to discussing the Overstock.com (NASDAQ: OSTK) financials using non-GAAP measures. This means that they present certain financial figures that are not computed in accordance with GAAP (accounting rules). Who cares? […]

  • Overstock.com and its phony earnings figures

    Today on the White Collar Fraud Blog, Sam Antar has the first part of a three part series on the inventory numbers at Overstock.com. It’s curious how Overstock’s inventory numbers always seem to create more questions than they answer. Sam […]