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  "documentTitle": "MGP Ingredients, Inc. (MGPI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2017-01-12 00:00:00",
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      "text": "Are investors comfortable that these added costs won't be material as management tries to suggest?",
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      "text": "MGPI started to disclose an audit by the Alcohol and Tobacco Tax Trade Bureau (TTB) in 2015, and its recent 2016 disclosure suggests that the scope of the audit has increased to additional time periods. Furthermore, MGPI has acknowledged that “clerical errors” and support for “storage loss” will result in additional taxes and penalties. Are investors comfortable that these added costs won't be material as management tries to suggest?",
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      "text": "The Alcohol and Tobacco Tax Trade Bureau (\"TTB\") performed a federal excise tax audit of the Company's subsidiaries, MGPI of Indiana, LLC and MGPI Processing, Inc., for the periods January 1, 2012 through July 31, 2015 and January 1, 2013 through July 31, 2015, respectively. The Company is in the process of addressing the preliminary findings of the TTB audit regarding clerical errors and support for storage losses. The Company is unable to determine the probability that additional excise tax and penalties will be owed and cannot reasonably estimate the amount thereof. However, the Company believes it is probable that a penalty may be imposed by the TTB as a result of certain TTB audit findings but it is unable to reasonably estimate the amount thereof. Management expects that the aggregate liabilities, if any, arising from such legal and regulatory proceedings, including the TTB audit, would have a material adverse effect on the consolidated financial position or results of operations of the Company. — 10-K, Mar 10, 2016",
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      "text": "Comparison of 10-K disclosures from 2015 and 2016 regarding TTB audit scope and management's assessment of materiality.",
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      "kind": "title",
      "text": "Newly Disclosed TTB Audit Investigation Also Looks Negative",
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