Nov. 14 at 3:09 PM
$FOSL This goose is probably cooked. Slight good news with slowing revenue deterioration. But gross margin deteriorated, SG&A moved way higher sequentially, further EBITDA & FCF deterioration, the
$32M debt upsizing was not enough so
$150M mixed shelf filing and
$50M equity offering, looks like cash crunch imminent, mgmt did not address anything on call and were hiding operating weakness, Maxim analyst asked scripted questions to avoid obvious issues. The upgrade from Maxim a few months ago and the
$50M equity offering through Maxim looks suspicious now.
