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InnerWorkings Inc. Message Board

  • rrtzrealmd rrtzrealmd Apr 17, 2013 11:02 AM Flag

    Gee, is anyone surprised?

    ...balance sheet shows that after subtracting the 230 MILLION dollars in goodwill and intangibles, shareholder equity is NEGATIVE 50 MILLION dollars... add injury to insult the company carries 65 MILLION dollars in "revolving credit facility" -- typically the most expensive credit available... me it looks like it ought to be trading below ZERO...

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    • The company is a fraud. How they book revenues from acquisitions is questionable. Moreover, Groupon, a sister company, helps increase INWK's revenues when there is a shortfall through inter-company transactions. The industry is shrinking, and the company doesn't have competitive advantage. In 10-K they talk about technology and expertise but it is bluff. The current valuation is not justified. I am short from $15, and my target price is $6.

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