RE:RE:RE:RE:My concerns about ValensSam129 wrote: A lot changed though, between them taking the loan and today. As in, their whoel business strategy changed. That might have made strategic sense last year, and it does not anymore this year because of that repositioning.
Then one might argue that they could have strategize their growth better, but they seem to have executed relatively well a 180 degrees shift in strategy, so I'll give them a pass there.
CS points were quite convincing to me, and I'd assume that moving to KPMG might alleviate some of your concerns, Cap?
They haven't changed their strategy, they just accelerated it. Their "current" strategy was their long term strategy all along.
As to the auditor, they're just auditing unless they have some form of consulting in the contract.
To clarify, I'm not concerned about the writedown, I'm concerned about their decision process in terms of taking sound financial decisions to go along with their good business decisions. If the same things happened where I work as it happened at Valens, I would be rightly shown the door (or have my career re-oriented).
I'm not here to bash the company, I think they have a good plan and that they take good business decisions. However, if I'm not confident in how they manage the financial aspect of things, I'd rather step to the sidelines for now. I'm still interested in the story and may buy back stock at a later point (or a lower entry price) at the risk of missing out.