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  "documentTitle": "Axon Enterprise (formerly TASER) (AAXN)",
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      "kind": "callout",
      "text": "Axon Stops Disclosing \"Work-In-Process\" Starting In 2016",
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      "text": "Looking carefully, we see that at the time Axon started ramping up its inventory reserves, it also stopped providing standard disclosure about inventory “Work-in-Process” which it listed at just $100k for two years, and paints the picture that it literally has no production in-process.",
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      "text": "Looking carefully, we see that at the time Axon started ramping up its inventory reserves, it also stopped providing standard disclosure about inventory \"Work-in-Process\" which it listed at just $100k for two years, and paints the picture that it literally has no production in-process. In addition, Axon's days to convert inventory to cash (and cash conversion cycle) started to lengthen.",
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      "text": "Source: Axon 2016 10-K; Axon 2015 10-K; Bloomberg",
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