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  "documentTitle": "Monolithic Power Systems (MPWR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2019-10-09 00:00:00",
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      "kind": "callout",
      "text": "What services with the Bermuda subsidiary were rendered?",
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      "kind": "callout",
      "text": "Why is MPWR's CEO the only one from the Company overseeing this entity?",
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      "text": "Spruce Point believes it's likely that MPWR routes its cash through Singapore, which is owned by MPS International Ltd. (Bermuda). Singapore engaged in related-party transactions with Bermuda for \"Services Rendered\". Yet, its Singapore subsidiary Monolithic Power Systems (Singapore) PTE. LTD currently has a going concern warning, and is audited by a three person firm called Plus LLP.(1) Why didn't Deloitte, MPWR's auditor of record for 2018, audit the Singapore subsidiary when it has a Singapore office?(2)",
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      "text": "Spruce Point believes it’s likely that MPWR routes its cash through Singapore, which is owned by MPS International Ltd. (Bermuda). Singapore engaged in related-party transactions with Bermuda for “Services Rendered”. Yet, its Singapore subsidiary Monolithic Power Systems (Singapore) PTE. LTD currently has a going concern warning, and is audited by a three person firm called Plus LLP.",
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      "text": "Source: Singapore ACRA 1. Plus LLP website 2. Deloitte Singapore website",
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      "kind": "title",
      "text": "Follow The Cash And Audit Trail...",
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