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  "documentTitle": "AST SpaceMobile, Inc. (ASTS)",
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      "text": "Disclaimer: As of the publication date of this report, Kerrisdale Capital Management, LLC and its affiliates (collectively, “Kerrisdale”), have short positions in shares of AST SpaceMobile, Inc. (\"ASTS\" or \"the Company\").",
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      "text": "The company’s ridiculously optimistic financial forecast called for $1bn in EBITDA in 2024; in reality, P&L will likely be deeply negative. Billions must be spent to achieve full global coverage and the company will likely continue issuing dilutive equity.",
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      "text": "A successful demonstration of a singular prototype will not magically transform technology cooperation agreements with mobile operators into contracted revenue. Retail investors who busy themselves poring over the technical specifications of a long-delayed test satellite, without verifying management’s claims with independent experts on satellite technology, are unconnected from AST's financial reality.",
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