Callouts & quotes from 526+ activist slides

"A 42% increase to its inventory fair value appears highly unusual especially in light of the closeness of relationship between the parties."

"The chart appears to be fake, as it shows a cell being discharged at over 100% of its energy, which common sense indicates is impossible."

"Nova appears to be downplaying the significance of U.S. GoldMining (Nasdaq: USGO) and its Whistler Project with less frequent discussion."

"Based on just $1m of accounts receivable and inventory, and $110m paid upfront, OrthoSpace appears richly valued with negligible sales."

"This financial presdigitation appears to have allowed management to increase its cash incentive compensation by 469% on lower goals!!"

"In a 2012 talk, he admitted that having “only about 15 qubits” isn’t useful – yet IonQ’s only machine appears to be an 11-qubit toy."

"The entity appears to have been formed in late Jan 2018, and Twist’s prospectus stated the Series D occurred in March and July 2018."

"A worst-case potential scenario is that Perion’s cash flow is not what it appears and that the cash is needed to cover its tracks."

"Müller appears to have acted with negligence at a minimum by not disclosing his voting rights accorded to him by the call options."

"It appears that the early warning signs of Inteliquent's insufficient fraud and abuse detection capabilities were already evident."

"it will be a few more months before the stock gets crushed from what appears to be an inevitable tsunami of selling from insiders."

"The loan appears to be non-performing, a disturbingly frequent occurrence among TeliaSonera’s counterparties in Eurasia and Nepal."

"It appears as at least one of AMT’s three purchases in Africa could be a lending transaction, based on intangible assets to PP&E."

"Note that, the price decline in late Apr 2019, it appears as though HBH blew out of the stock as soon as the lockup date passed."

"The OPO CEO appears prescient - “it’s a ticking time bomb...wait til somebody finds out” - judging by the reactions we observed."

"It appears patently obvious to us that IonQ announced the $14MM deal on Sep 9 and then instantly billed UMD for $4MM by Sep 30."

"It appears that Oatly’s U.S. production facility in Millville, NJ was poorly planned and didn’t factor in expansion challenges."

"Welltower's 2026 proxy reveals a compensation peer group that appears designed to justify, rather than evaluate, executive pay."

"There appears to be a consensus among independent analysts that are not compensated by Cintas, that its shares are overvalued."

"It appears to be more than a casual mistake that Revenues and Net Income were overstated by 68% and 98%, respectively in 2018."

"It is utterly implausible that Twist is spending $40MM on data storage, as it appears to have hardly any staff working on it."

"Mettler's leverage is greater than it appears given our belief that EBITDA is overstated from cost capitalization strategies."

"Cintas appears to have desperately needed to purchase G&K, raising its initial bid of $76.00 all the way to $97.50 per share."

"That being said, it appears that RedChip has more at stake than at least two of Nova’s Board members, including the Chairman."

"It appears sell-side analysts’ growth estimates are giving CTC the continuous benefit of its unsustainable accounting tricks"

"We are concerned that Box's solution appears to be hiring more reps rather than solving the underlying productivity issues."

"Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro's response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro's response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Nevro's response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation"

"Therefore, it appears that the €304.1 million Euro-denominated loan Vivion claims to have received was never actually made."

"By sequestering these asset disposals in "net capex," management appears to be inflating earnings on its income statement."

"Many described bullying tactics reminiscent of a bad 1990s mob movie. This appears to be Trustpilot's core sales strategy."

"EOS Management calling EMS a "non-core asset" appears to have been an excuse to mask the desperate situation they were in."

"Instead, it appears to prioritize the interests of BP's management, possibly to ensure the 'conservation of the species'."

"With Little Equity At Risk, Management Appears To Have Turned To Gaming Compensation Targets For Self-Enrichment Purposes"

"Initially, in 2018, 1BAL purchased the Buxmead apartments with funds provided by CPI PG at what appears to be a discount."

"The CFO talked about acquisitions being accretive to margins over-time, but the exact opposite appears to have occurred."

"None of these revenue streams or relationships appears significant enough to justify Publishing being 100% owned by TWX."

"REZI appears to be retroactively moving restructuring charges to suit their purpose or making careless reporting errors."

"Hua Tai has SAIC financials for 2014-2016, and appears to have been wholly incapable of guaranteeing a $2 million loan."

"It appears that Stryker failed to restate the segment D&A when it made the restatement through the cash flow statement."

"Capricorn appears to be a company run for the benefit of its executives and staff and to the detriment of shareholders"

"As seen below, CAIC appears to have had 385 HO-3 policies in force (PIF) in Pacific Palisades (90272) as of June 2024."

"Soleno rep appears to be suggesting that Vykat's extended release formulation is “able to penetrate the brain better”"

"It appears to us that none of the Companies A-D represent Monster as ranked in the top five by market share in China."

"If that’s not bad enough, $568 is an incorrect number – it’s actually $567. It appears that GTT thinks that 2+1 = 4"

"The Muddy Waters report appears to have given rise to many questions that have not yet been sufficiently discussed."

"The company appears to have aided in the police interrogation of the analyst, as well as his eventual prosecution."

"Market share appears overstated in Asia, and competition in its core US vacuum market appears to be intensifying."

"It appears that in 2022, Sunrun claimed ITCs of approximately $205 million on 14,390 systems that didn't exist!"

"To date most of the development appears to be in the planning stage and only a single refueling station exists."

"Phillips 66's corporate leaders do not have refining backgrounds and it appears they DO NOT WANT TO BE REFINERS"

"Phillips 66's corporate leaders do not have refining backgrounds and it appears they DO NOT WANT TO BE REFINERS"

"How can the Board stubbornly move forward with this process when the market appears to have serious concerns?"

"Monroe is basically missing in action and Kim allegedly disappears for weeks at a time because he’s at Duke."