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  "documentTitle": "Porch Group Inc (PRCH)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-04-08 00:00:00",
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      "text": "By having CEO Ehrlichman purchase Lowe's shares, and claim that it was substantially below market value, was the Company using this as diversion from taking a goodwill impairment? Porch's losses increased from $50.4m to $103.2m from 2018 and 2019. The extreme increase in losses and Lowe's stock sale could be potential indicators of goodwill impairment.",
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      "text": "Months later, when discussing the CEO's compensation for 2019, the Company explicitly stated it was not a party to the Lowe's stock transaction, and thus did not view the $33m as part of his compensation. This bold statement contradicts what Porch told the SEC earlier that the transaction should be viewed as stock compensation. If Porch was not a party to the transaction, why is it recorded in Porch's financial statements?",
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      "text": "During 2019, Porch did not grant any equity awards to Mr. Ehrlichman. In May 2019, Mr. Ehrlichman purchased 16,091,277 shares of Porch from Lowe's Companies, Inc. (\"Lowes\") at a price of $0.25 per share... Porch was required to recognize a compensation expense under FASB ASC Topic 718 in the aggregate amount of $33,231,717...",
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      "text": "Porch next considered whether the transaction was clearly for a purpose other than compensation for goods or services to the reporting entity... Porch will benefit from the arrangement through the Porch CEO's increased equity stake and can be reasonably expected to motivate and compensate the Porch CEO for future performance consistent with the objectives of stock-based compensation.",
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      "text": "Source: Porch and PROPTECH Response To SEC Comment Letter: Nov 16, 2020",
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      "text": "Source: Porch Prospectus Jan 29, 2021",
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      "kind": "title",
      "text": "Did Porch Lie Directly To the SEC? Porch Can't Keep Its Story Straight Regarding Its Shady Accounting",
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