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  "documentTitle": "Porch Group Inc (PRCH)",
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  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-04-08 00:00:00",
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  "notes": "Uses red text and callout boxes to emphasize negative financial disclosures.",
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      "text": "The SPAC deal was announced July 31, 2020 with great optimism and promotion, but it wasn't until October 14, 2020 that investors would learn just how distressed Porch had been......",
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      "text": "Interest expense increased by $3.5 million, or 122%... loans were in technical default... violation of certain covenants... substantial doubt about the Company's ability to continue as a going concern",
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      "text": "Porch Disclosures Show Distress And Doubt About Its Survival",
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      "text": "\"Interest expense increased by $3.5 million, or 122%, from $2.9 million in the six-months ended June 30, 2019 to $6.4 million in the six-months ended June 30, 2020... several of the Company's loans were in technical default and interest expense was computed at higher default interest rate levels.\" — S-4 filing, October 14, 2020; \"At December 31, 2018 and 2019, the Company was in violation of certain covenants under this senior secured lending arrangement.\" — S-4 filing, October 14, 2020; \"Based on the factors described above, and after considering management's plans, there is substantial doubt about the Company's ability to continue as a going concern within one year from the date the unaudited condensed financial statements were available to be issued\" — S-4 filing, October 14, 2020",
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      "text": "Source: S-4 filing, October 14, 2020",
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      "text": "Months After The Grand SPAC Announcement, The Dirt Comes Out....",
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