Sahm Adrangi Negative Reoprt

Sahm Adrangi of Kerrisdale Capital thinks KODAKONE and KODAKCoin are limping animals for Kodak owners. In early February 2018, Sahm Adrangi published a scathing review criticizing the shady business announcements of Eastman Kodak Company (NYSE:KODK.) Sahm Adrangi points out the recent business announcements resulting in the meteoric 187% rise of KODK stock prices are nothing more than hollow hype without any true success.

Basically, Sahm Adrangi argues that the Eastman Kodak Company’s recent announcement about an impending partnership to launch a blockchain-enabled image licensing platform is nothing more than a sham to aggressively capture interest in this generation’s ICO craze. Sahm Adrangi goes as far to point out many of the shady practices within his report. One of the larger flaws in Kodak’s handling of this blockchain and cryptocurrency project is the convenient extra shares granted to the Kodak board members a mere twenty-four hours before this announcement.

Mr. Adrangi goes so far as to call this business venture nothing more than a pr stunt. It appears as if the impending arrival of KODAKOne and KODAKCoin is a sham to raise stock prices for the board members to take advantage of before they inevitably succumb to the dreaded reality of bankruptcy. In this day and age, an aging commercial printing and imaging company must reach for some way to slow the tide of mounting debt.

In his report, Sahm Adrangi mentions the six-year prior bankruptcy Kodak previously went through. He points out Kodaks inability to negate negative free cash flow and frivolous failed promises on long-term projects. The situation is excruciatingly dire for Kodak, and it seems as if history is doomed to repeat itself, regardless of these new blockchains and cryptocurrencies. Kodak is effectively a sinking ship selling buckets instead of using said buckets to remove the waters sinking them.

http://fortune.com/2016/04/21/sahm-adrangi-kerrisdale-short-sale/

https://www.prnewswire.com/news-releases/sahm-adrangis-kerrisdale-capital-issues-negative-report-on-eastman-kodak-company-300594897.html