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  "documentTitle": "Monolithic Power Systems (MPWR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-10-09 00:00:00",
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  "notes": "Uses excerpts from SEC filings (8-K and NT-10Q) to contrast poor financial governance with executive compensation.",
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      "kind": "paragraph",
      "text": "PART III — NARRATIVE. On April 28, 2008, the Audit Committee of our Board of Directors determined that our previously issued financial statements for the years ended December 31, 2006 and 2007... should no longer be relied upon.",
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      "kind": "paragraph",
      "text": "On May 28, 2008, the Compensation Committee of the Board of Directors of Monolithic Power Systems, Inc. (the “Company”) approved the following 2008 maximum achievable cash performance bonuses...",
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      "kind": "paragraph",
      "text": "Accounting weakness would fester. In 2008, MPWR notified investors that results for 2006 and 2007 could not be relied upon due to errors related to tax provisions. Yet, even while delaying its 10-Q, the Board granted executives the “maximum achievable” bonus for the year.",
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      "kind": "paragraph",
      "text": "Monolithic Power Systems Announces Record First Quarter Revenue and Operating Income. Company Will Also Restate 2006 and 2007 Financials to Correct Tax Provision Error That Overstated Book Tax Expense...",
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      "kind": "source-note",
      "text": "Source: MPWR's 8-K, April 2008; MPWR's 8-K, June 2008; MPWR's NT-10Q, May 2008",
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      "text": "Michael Hsing $780,000; C. Richard Neely, Jr. $437,000; Deming Xiao $437,000; Maurice Sciammas $437,000; Adriana Chiocchi $394,000; Paul Ueunten $394,000; James C. Moyer $211,000",
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      "kind": "title",
      "text": "Later Resulting In Financial Restatement And Non-Reliance Opinion.....",
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