Its no wonder that Kogan and his offsider have sold so much stock and pay themselves so highly.
The business hasnt really made much money over the last few years, so the equity hasnt been the place to be long term.
They rely heavily on adjusted numbers, most shamelessly backing out the costs of the options they pay themselves. On a statuory basis its barely made anything over the last 5 yrs+.
I think from memory disclosure of metrics related to mighty ape were changed last year?
Oh, and who could forget that very suspect options deal a while back where the company paid out cash for KMP options, which would have subsequently been worth very little after another poor update.
The Amazon of Australia it is not. No wonder most of Kogan's cash is in his real estate.
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