This company owns & operates warehouse stores specializing in outdoor gear, mainly in the western region of the country.
Quick look at the financial data - as reported in S-1/A - April 14, 2014
|January 28, |
|January 29, |
|(in thousands except percentages, number of stores and square foot data)|
Consolidated Balance Sheet Data:
Total current assets
Long-term debt (including current portion), net of discount
Total stockholders’ (deficit) equity
Total liabilities and stockholders’ equity
Adjusted EBITDA margin(2)
Number of stores open at end of period
Total selling square feet at end of period
Same store sales growth for period(3)
Cash dividend declared per common share (on a pre-split basis)
YUK! This is about all you need to see right? The company has gone public probably because the total liabilities is about double the total current assets. With margins in the < 10% range, it's going to be difficult for the management to ever dig the company out of a financial hole.
Weibo Corp (WB)
Essentially the China version of twitter. The company limits characters to 140 similar to twitter.
Here is some quick financial data via Weibo's F-1/A filing on April 14, 2014
|As of December 31,|
|(in $ thousands)|
Selected Combined and Consolidated Balance Sheet Data:
Cash and cash equivalents
Amount due to SINA
Investor option liability
Additional paid-in capital
Total shareholders’ deficit
You can see the incredible growth this company has achieved in the last year. They've virtually tripled total assets in 1 years time, which is typical with young(er) tech companies. Essentially you are making an investment in the Chinese social media scene. While possible, it's likely this service will only gain traction in one region of the world. Personally I'd only invest in this company if you want exposure to the social media advertising market in China.
Remember Takeout-Taxi? This is basically the same model, just with a mobile app.
Quick look at the financials as posted April 2, 2014 in the companies S-1 filing.
|Year Ended December 31,|
Statement of Operations Information:
Costs and expenses:
Sales and marketing
Operations and support
Technology (exclusive of amortization)
General and administrative
Depreciation and amortization
Total costs and expenses
Income before provision for income taxes
Provision (benefit) for income taxes
Dividends on Preferred Stock
Net income attributable to common stockholders
The company attempts to bury how poorly it's doing financially, but notice how net income has been cut in half in 2 years as the company scales up. That's not a good sign. Additionally the business model isn't exactly iron-clad - so a clear winner in the space may never emerge.