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Seth Golden  

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  • SodaStream: Restructuring Efforts Underway With New Flavors Coming Soon [View article]
    First with Sam's Club, Second with Williams Sonoma and third with Bed Bath & Beyond. Serge Bueno was a distributor, not employee?
    Aug 21, 2015. 08:43 AM | Likes Like |Link to Comment
  • Market Outlook Finds Many Headwinds [View article]
    And UVXY proves profitable as a short term hedging instrument...of course it does.
    Aug 21, 2015. 08:16 AM | Likes Like |Link to Comment
  • Home Carbonation Category Evolving Into Do-It-Yourself Hydration [View article]
    Most welcome sir! Additional publications regarding the category are also available on Seeking Alpha that I have authored.
    Aug 20, 2015. 03:14 PM | Likes Like |Link to Comment
  • SodaStream's Q2 2015 Performance Under Review [View article]
    Where is the defense you are referring to?
    Aug 19, 2015. 02:55 PM | Likes Like |Link to Comment
  • SodaStream's Q2 2015 Performance Under Review [View article]
    Yes, keep in mind the Noridics, Empire, much bigger sales region. Probably paid a bit more than should have, but the timing plays into all of that. Glad to see you factoring this into FCF model, unfortunately many do not follow variables that could effect FCF enough to consider. Much luck to you and remember, book value is around $15.60 for company...risk seems limited, but time will tell.
    Aug 14, 2015. 09:29 AM | Likes Like |Link to Comment
  • SodaStream's Q2 2015 Performance Under Review [View article]
    It's not exactly clear how much was spent, but I ball park it based on the revenue generation of the market. Japan just under $8mm and Italy around $10mm. I would not use these assumptions as exacts, but as a guide and potential forecast for like markets (Korea), I think it is a safe estimate on such a future takeover.
    Aug 14, 2015. 08:13 AM | Likes Like |Link to Comment
  • SodaStream's Q2 2015 Performance Under Review [View article]
    The company has issued a statement addressing the $60-$70mm Capex spend for FY15 as being all that will be needed for the necessary completion of the new plant. Already factored into the equation is this understanding. Having said that, the free cash flow benefits to be recognized next FY is dependent on existing distributor business to improve i.e. Korea and France issues. If these two markets do not improve and the business for the distributors does not improve, free cash flow will then have to go toward addressing these issues and push out any beneficial free cash flow yet another year. But we will see how things go and decide how to forecast accordingly.
    Aug 13, 2015. 05:45 PM | Likes Like |Link to Comment
  • SodaStream's Q2 2015 Performance Under Review [View article]
    Other no cartridge systems like...?
    Aug 13, 2015. 11:33 AM | Likes Like |Link to Comment
  • Keurig Brewer Sales Continue To Slide And K-Cup Sales Have Now Followed Suit [View article]
    Live interview with VPR http://bit.ly/1UDz4l3
    Aug 12, 2015. 06:20 PM | Likes Like |Link to Comment
  • Is SodaStream Worthy Of A Speculative Investment? [View article]
    Thank you Brian, but I guess what I was looking for is some analysis on why the short interest existed to the degree it did in previous years and to juxtapose that analysis on a go forward basis. What I would guesstimate is that for a micro-cap, admittedly niche product, company with virtually no free cash flow in yesteryear, short sellers were not inhibited to short shares as YOY comps can prove difficult even for the most decorated companies. With no free cash flow and operating profit below 15%, it's a prime candidate for shorts who understand the dynamics surrounding the relevancy of free cash flow and its ability to shield some short interest, especially with consideration to the size of the float. So fast forward to 2016 and where the company will likely start to produce free cash flow, even absent any meaningful or modestly incremental turnaround in certain markets of scale, the story becomes quite different from a risk/reward standpoint for a great deal of short sellers or would be short sellers...no?

    Great historical perspective nonetheless. I look to look at things from an analytical perspective in order to better understand the reasons why things happen as opposed to just accepting that they happen. Again, great article and thank you kindly for your response.
    Aug 11, 2015. 02:02 PM | 2 Likes Like |Link to Comment
  • Is SodaStream Worthy Of A Speculative Investment? [View article]
    Well written article shy of the Cool-Aid (Kool) misspelling in brand. Having said that and with regards to the short interest historic perspective, could you offer something better, more. Why did the short interest remain so high and for so long and even in the face of strong growth? Why could that be dynamic be the opposite this time or even the same? Essentially you identify a statistic but don't offer an opportunity for investors to take advantage of the statistic by offering any analysis in the subject matter. Maybe you could do so now? Thank you kindly.
    Aug 11, 2015. 12:03 PM | Likes Like |Link to Comment
  • Keurig Brewer Sales Continue To Slide And K-Cup Sales Have Now Followed Suit [View article]
    It is certainly an opinion, but opinions do vary and unfortunately for Nespresso, in the United States, they simply can't compete effectively with Keurig as the sales data clearly indicates. Is the Nespresso lineup a strong product, absolutely, but first mover advantage dominates and some 7 years into Nespresso's venture in North America and they have yet to capture 1% household penetration rate. So I'm not disagreeing with the sentiment offered, but the sales outline its a non-factor in the overall story to date.
    Aug 11, 2015. 09:21 AM | Likes Like |Link to Comment
  • Keurig Brewer Sales Continue To Slide And K-Cup Sales Have Now Followed Suit [View article]
    Very well stated and I would think that at the very least some of your understanding will be realized. What that means for the stock price may be another consideration altogether. Don't know and we will have to see.

    I can also agree with your sentiment toward management as the decision making process leaves a great deal to be desired along many lines of the operation.
    Aug 10, 2015. 05:18 PM | Likes Like |Link to Comment
  • Keurig Brewer Sales Continue To Slide And K-Cup Sales Have Now Followed Suit [View article]
    Yes, it was submitted earlier today, but has yet to be remedied.
    Aug 10, 2015. 12:05 PM | Likes Like |Link to Comment
  • Keurig Brewer Sales Continue To Slide And K-Cup Sales Have Now Followed Suit [View article]
    Thank you Brutal,

    You may be right regarding wrong direction. So far as the buyback and monies to fund the program, if the company desires they could certainly issue debt, but more than likely and a most favorable way to do so would be to access their credit facility which has fantastic terms and which they have proven to use wisely in the past and under the former management team. Will that be the case this time and if it should come to pass is anybody's guess.

    Why do you think over the long-run more disappointment will come? Not saying I disagree, just open to other's perspective on the matter.
    Aug 10, 2015. 10:11 AM | Likes Like |Link to Comment
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