Rob Schmied
@robschmied.bsky.social
Investor, Trader, Former Investment Banker and CFO. Skeptical about most things. And an occasional whale video in season. Scottsdale and Maui.
10-Q does outline the directors settlement of $277m received and $176m paid to lawyers....
April 23, 2025 at 6:00 PM
10-Q does outline the directors settlement of $277m received and $176m paid to lawyers....
5. Net Inc was exactly $420m (haha)
6. D&A lower (counterintuitive) although I believe they use Units of Prod method for some plants (Berlin?)
7. Inventory probably needs impairment
8. No impact from the Director settlement (proxy info by 4/30)
9. Nothing for Tornetta yet
6. D&A lower (counterintuitive) although I believe they use Units of Prod method for some plants (Berlin?)
7. Inventory probably needs impairment
8. No impact from the Director settlement (proxy info by 4/30)
9. Nothing for Tornetta yet
April 23, 2025 at 5:28 PM
5. Net Inc was exactly $420m (haha)
6. D&A lower (counterintuitive) although I believe they use Units of Prod method for some plants (Berlin?)
7. Inventory probably needs impairment
8. No impact from the Director settlement (proxy info by 4/30)
9. Nothing for Tornetta yet
6. D&A lower (counterintuitive) although I believe they use Units of Prod method for some plants (Berlin?)
7. Inventory probably needs impairment
8. No impact from the Director settlement (proxy info by 4/30)
9. Nothing for Tornetta yet
3. Other non-current assets rose by $750m in the quarter. Total approaches $5b. They list some of the components throughout, but over half is unexplained. Deserves a schedule.
4. Construction in Progress jumped over $500m in the quarter, total $7.3b.
4. Construction in Progress jumped over $500m in the quarter, total $7.3b.
April 23, 2025 at 5:28 PM
3. Other non-current assets rose by $750m in the quarter. Total approaches $5b. They list some of the components throughout, but over half is unexplained. Deserves a schedule.
4. Construction in Progress jumped over $500m in the quarter, total $7.3b.
4. Construction in Progress jumped over $500m in the quarter, total $7.3b.
2. Max exposure under RVG increased by $550m in the quarter, up to $1.9b. Have recorded zero reserves for this. Using their old 50% of original price guarantee metric, this suggests over $1b of auto sales were under RVG deals, or over 8%.
April 23, 2025 at 5:28 PM
2. Max exposure under RVG increased by $550m in the quarter, up to $1.9b. Have recorded zero reserves for this. Using their old 50% of original price guarantee metric, this suggests over $1b of auto sales were under RVG deals, or over 8%.
The other big point is that X already owned between 15%-20% of xAI (initially 25% but has been diluted). So assume it is now 15%. Following this deal, the X shareholders will own 29%. So they sold out the economics of the Twitter business for (only) 14% of a massively overinflated startup.
March 29, 2025 at 1:56 PM
The other big point is that X already owned between 15%-20% of xAI (initially 25% but has been diluted). So assume it is now 15%. Following this deal, the X shareholders will own 29%. So they sold out the economics of the Twitter business for (only) 14% of a massively overinflated startup.
I would not have expected any prior disclosures regarding this, although it is possible it appears in an updated risk factor in the future or perhaps in proxy disclosure regarding his responsibilities.
February 20, 2025 at 3:46 AM
I would not have expected any prior disclosures regarding this, although it is possible it appears in an updated risk factor in the future or perhaps in proxy disclosure regarding his responsibilities.