{"id":1553,"date":"2008-06-02T08:02:40","date_gmt":"2008-06-02T13:02:40","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/?p=1553"},"modified":"2012-03-02T14:52:56","modified_gmt":"2012-03-02T20:52:56","slug":"no-profitability-to-maintain-at-overstockcom","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/no-profitability-to-maintain-at-overstockcom\/","title":{"rendered":"No Profitability to &#8220;Maintain&#8221; at Overstock.com"},"content":{"rendered":"<p>Sam Antar pointed out this hilarious directive that Patrick Byrne and Overstock.com (NASDAQ:OSTK) received in 2002 from the SEC. (Note that the company has still never had a profitable year. Ever.)<\/p>\n<blockquote><p>From <a href=\"http:\/\/overstock.com\/\">Overstock.com<\/a> S-1 filed on 03\/05\/02:<\/p>\n<p>&#8220;We have grown quickly and if we fail to manage our growth, our ability to generate new revenues and maintain profitability would be harmed.&#8221;<\/p>\n<p>SEC to <a href=\"http:\/\/overstock.com\/\">Overstock.com<\/a> on 04\/04\/02:<\/p>\n<p>Dear Mr. Byrne&#8230;.<\/p>\n<p>&#8220;We note that you incurred net losses of $13.8 million for your most recently completed fiscal year. In light of this fact, please revise the caption to this risk factor to eliminate the reference to &#8216;maintaining&#8217; profitability.&#8221;<\/p><\/blockquote>\n<p style=\"text-align: left;\">Yeah&#8230; Overstock and the auditors might want to be a little more accurate in their SEC filings. First a company must <strong>get<\/strong> to profitability. Then it can <strong>maintain<\/strong> it. Or in Overstock&#8217;s case, never get to it.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sam Antar pointed out this hilarious directive that Patrick Byrne and Overstock.com (NASDAQ:OSTK) received in 2002 from the SEC. (Note that the company has still never had a profitable year. Ever.) From Overstock.com S-1 filed on 03\/05\/02: &#8220;We have grown [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[827],"tags":[915,1533],"class_list":["post-1553","post","type-post","status-publish","format-standard","hentry","category-public-companies","tag-overstock","tag-profitability"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-p3","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/1553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=1553"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/1553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=1553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=1553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=1553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}