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Sam E. Antar
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Sam Antar is a convicted felon and a former CPA. As the CFO of Crazy Eddie, Mr. Antar helped mastermind one of the largest securities frauds uncovered during the 1980s. Today, Sam Antar is a forensic accountant. His primary work focuses on identifying and investigating public companies engaged... More
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White Collar Fraud
  • Overstock.com (NASDAQ: OSTK) Q3 2009 Earnings Call Questions for Patrick Byrne  0 comments
    Nov 3, 2009 1:26 PM | about stocks: OSTK

    To Patrick Byrne:

    You have denied me personal access to the conference call and have provided arbitrary and unreasonable conditions not imposed on other participants in the call. In any case, I will be seeking access to the call to ask possible follow up questions.

    You are perfectly aware that some of my questions involve complicated accounting issues and cannot reasonably be kept to 25 words or less.

    Enclosed are my four questions. I request that you read each of them out loud into the record, in full, and provide detailed answers to each question.

    Please answer "yes" or "no" to questions one, two, and three before responding to the issues:

    1. Did Overstock.com's EBITDA calculations reported from Q2 2007 to Q2 2008 violate SEC Regulation G?

    2. Did any Overstock.com financial report issued from inception initially comply with GAAP and SEC disclosure rules?

    3. Did Overstock.com violate GAAP in accounting for underbilled offsetting costs and reimbursements from fulfillment partners and create a cookie jar reserve for the purpose of manipulating future earnings?

    You have previously claimed that Deep Capture is unrelated to Overstock.com.

    4. Why did you respond to my request to participate in the Q3 2009 earnings call by posting my private email and your response on Deep Capture?

    Regards,

    Sam E. Antar

    Disclosure:

    I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped Eddie Antar and other members of his family mastermind one of the largest securities frauds uncovered during the 1980's.

    I do not own Overstock.com securities short or long. My research on Overstock.com and in particular its lying CEO Patrick Byrne is a freebie for securities regulators and the public in order to help me get into heaven, though I doubt that I will ever get there anyway. I will probably end up joining corporate miscreants such as Patrick Byrne in hell.

    Other information:

    List of all blog posts (in date order)

    Media commentary and mentions (in date order)

    Stocks: OSTK
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