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  "documentTitle": "Danimer Scientific (DNMR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-04-22 00:00:00",
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  "pageCount": 63,
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      "kind": "callout",
      "text": "We found Danimer's story has consistently changed. In 2012, a press release stated, \"expected production rates exceeding 300,000 tons per year.\" This press release used to be on the Company's website and his since been scrubbed from the internet. However, in October 2013, the Company's press release stated \"Meredian will produce over 30,000 tons of PHA per year.\" -- 90% less! With numerous inconsistencies and many of the same management team in place, what are investors supposed to believe?",
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      "kind": "callout",
      "text": "With numerous inconsistencies and many of the same management team in place, what are investors supposed to believe?",
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      "kind": "legend",
      "text": "Yet Another Different Facility Size: \"190,000 sq. ft.\"",
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      "kind": "quote",
      "text": "\"Meredian will produce over 30,000 tons of PHA per year.\" -- Michael Smith, VP Manufacturing & Engineering, Meredian",
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      "kind": "table",
      "text": "October 2013: \"Having the largest PHA production facility in the world, Meredian will produce over 30,000 tons of PHA per year at the Bainbridge facility...\"",
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      "kind": "table",
      "text": "October 2012: Polyhydroxyalkanoate (PHA) is a highly functional bioplastic made from renewable and natural resources. Meredian's new plant is the largest bioplastics facility in the world, featuring 190,000 square feet of manufacturing space with expected production rates exceeding 300,000 tons per year...",
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      "kind": "title",
      "text": "A Consistently Changing Story",
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  "frameworks": [
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      "matchId": "150cfaeb-5e17-4de8-b61e-69aa7f8fcd22",
      "evidence": "Highlights contradictory public statements to suggest misleading investor communication.",
      "confidence": 0.9
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      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "Detailed critique of Danimer executives and board members, highlighting red flags and inconsistencies.",
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      "confidence": 0.8,
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  "loops": [
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      "evidence": "The document highlights several contradictions in Danimer's story and property records.",
      "position": 0,
      "objective": "Exposing contradictions in Danimer's claims and property figures.",
      "structure": "The Problem/Question -> What the Data Shows -> The Insight",
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      "description": "Establish a tension, present data, then deliver the insight that changes everything"
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