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  "documentTitle": "Green Mountain Coffee Roasters (GMCR)",
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  "authorName": "David Einhorn",
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  "presentationDate": "2011-10-17 00:00:00",
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  "notes": "This slide is a direct excerpt from an SEC response letter, used to clarify regulatory compliance and business model structure.",
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      "text": "These fulfillment entities do not sell the Company's products but rather receive and fulfill sales orders and invoice retailers and maintain the Company's inventory. The Company notes that even though approximately 43% of its consolidated net sales were processed by MBlock in fiscal 2010, the substance of MBlock's relationship with the Company is administrative and procedural and not as a purchaser or consumer of the Company's products.",
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      "text": "In analyzing its contractual relationships with third parties, the Company has evaluated its contracts with each of its fulfillment partners and its manufacturer in China and concluded that such contracts are not material for purposes of Item 601 of Regulation S-K.",
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      "text": "As disclosed in the Fiscal 2010 Form 10-K, MBlock performs an administrative function in processing the majority of sales orders for the Company's at-home single-cup business with retailers in the United States.",
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      "text": "Source: GMCR response letter to SEC dated March 29, 2011 “Response to Comment 9.” Emphasis added.",
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