KGN - 800 million dollar business LOL, page-245

Hey getonboard - I am with you on valuation - it's ridiculously overcooked.

The fact that Messrs Kogan and Shafer have offloaded stock twice before - at lower levels - tells you that they know its a ponzi and are more than happy to offload overvalued stock.

As an old boss used to say: "When the ducks are quacking, feed them".

I have no doubt that the management are smart.

They are smart enough to offload a lot of stock at inflated prices so that when the market eventually falls out of love with the idea of Kogan, they will have a massive war chest in cash all ready to go again.

The shareholders who fell in love with the idea (or more correctly, the dream) will be wondering what happened.

Kogan is a market darling and some people like buying stuff online but really, does anyone actually believe that this company is the next Amazon?

The term "flights of fantasy" comes to mind.

Anyway, back to numbers.

Current MC is circa $800m AFTER the latest aborted sell-down attempt.

Nice try guys but the real market knows the valuation is nonsense.

Since when was it prudent to buy stocks on revenue multiples.

March Quarter Operating Casflow was minus - that is negative - $625k.

The good news is that they have $19m in cash.

In the context of an $800m MC, something is way out of whack.

There is an old saying - "A fool and his money are soon parted".

Ruslan and his team are not fools, but what about the rest of the market?

Good luck with the dream............