Sahm Adrangi’s remarks on Eastman Kodak Company

In his report, Sam Adrangi, who is the chief officer at Kerrisdale, claimed that KODAKone and KODAKcoin are not capable of providing any benefits the Kodak shareholders and this is because the shares have risen beyond justification. More details on Sahm Adrangi at valuewalk.com.

Kodak company is a commercial printing and imaging company.It is attacked by claims of having its stock rising with 187% since it announced a partnership where a photo-centric and a blockchain- enabled image licensing were to be launched, and just the day before this announcement, the directors’ board members of Kodak had granted themselves restricted stock.

This announcement, according to Sahm Adrangi, was a suspicious act. It Aimed at doing away with the ICO craze, since it put no effort in eliminating the weak fundamentals of Kodak, mounting default risk, unbearable capital structure, declining revenues, and negative cash flow, hence putting it at risk of having an SEC investigation being carried out. Learn more about Sahm Adrangi at Businessinsider.com.

Sahm Adrangi proceeded to claim that there was no credibility in the team behind KODAKcoin. Additionally, the blockchain community is not familiar with the KOKAKone’s executive team. He made it clear that KODAKcoin was the last option for stock promotion, to a failing company.

In his report Sahm Adrangi also says that Kodak has been faced with more problems, which the management has been unable to control. The problems included fighting debts maturities and fighting liquidity. Having restrictive debts convents the financials to go down the drain.

This, as stated by Sahm Adrangi, were the same problems that faced the company six years ago. It leads it to bankruptcy and not even the royalty payments received from KODAKone and the proceeding of the ICO, can save this situation hence the company is at risk of debt restructuring and a possibility of default, within the next one year or so.

Sahm Adrangi has asked the shareholders to start thinking how they will completely wipe out the company, instead of hoping for a new economy for the photographers.

Sahm Adrangi was previously an investment advisor and this helped him gain experience. It is thus important to put his report into consideration to redeem Kodak and the shareholders.

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