FEATURED REPORTS

October 7, 2021
January 11, 2021

FFIE

Move Over, Lordstown:
at Faraday, EV Stands for "Embezzlement Vehicle"

Don't feel like reading? Watch our summary on Zer0es TV
​We don't think Faraday Future (FFIE), an EV SPAC, will ever sell a car. So far, it's nothing but a bucket to collect money from U.S. investors and pour it into the black hole of debt created by its founder, China's best-known securities fraudster, Jia Yueting.

BTBT US

“The Company was not able to reach Mr. Liu.” 

With key executives in jail or on the lam for having bilked Chinese investors out of $42 mln in a fraudulent P2P business, Bit Digital (BTBT) has moved on to a fake crypto currency business. We will show that the assets probably do not exist, and the business is designed to steal funds from investors.
May 28, 2020

NG TSX

Pipe Dream

For the last 15 years, NovaGold’s management team has systematically misled investors with subjective presentation of information about a deposit so remote and technically challenging that the mine will never be built. Over those years, they’ve been treating this 12-person concept company like an ATM, awarding themselves base salaries that rival those of the CEOs at ...
June 24, 2021

CDXC US

An Oceans 11 of stock promoters
December 3, 2020

TPIC US

We Are Long TPIC!
December 18, 2020

CBAK US

The Undead: Why CBAT Has Zero Value
IAfter months of examining ChromaDex (CDXC), we have come to the conclusion that this company, which sells a health supplement called Tru Niagen, is pure hype, dished up by an Oceans 11 of stock promoters. CDXC promotes its single product with iterative press releases that boost share price long enough for insider sales before the vaunted advantages contained in those press releases quietly disappear.
​The SEC has labeled the team behind CDXC “micro-cap fraudsters” who manipulate share prices and then “dump” the stock.
Not only is the management team dubious, but so is the auditor. CDXC uses Marcum LLP, which the PCAOB says is riddled with deficiencies.
The latest promote is a Walmart distribution deal, announced twice, in March and in June, for full effect. The company frequently announces deals
that end up producing virtually no sales. 
After reviewing the company’s reported acquisitions and dispositions since 2012, we believe they have provided negative real value to shareholders but payoff to insiders. 
We believe TPI Composites (TPIC) presents an interesting opportunity to own a business inflecting toward profitable growth with optionality on electric vehicles. In its core business, we believe TPIC may grow EBITDA by 250% over the next two years, propelled by strong demand for new wind turbines. Out beyond two years, demand for offshore wind–where the World Economic Forum ...
CBAK Energy Technology Inc. (CBAT) represents the barely re-animated corpse of CBAK, a Chinese reverse merger that lost all its manufacturing assets to default in 2014. In 2015-16, CBAT raised $113 mln from investors to build new factories—and, we will show, appears to have simply taken a lot of that ...
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​Cartoon by Johannes Leak
Disclaimer
The reports and other commentary displayed are for information purposes only and should not be relied upon as investment advice. The information provided is not a complete analysis of every material fact regarding any country, region, or market. Because market and economic conditions are subject to change, comments, opinions and analyses are rendered as of the date of this posting and may change without notice. 

Opinions are intended to provide insight on macroeconomic issues and commentary is not intended as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy.

Investments involve risk. The value of investments can go down as well as up, and investors may not get back the full amount invested. The information contained in these reports has not been reviewed in the light of your personal financial circumstances. Reliance upon the information is at your sole discretion.