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  "documentTitle": "Oatly Group AB (OTLY)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-07-14 00:00:00",
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  "notes": "Uses red arrows and question marks to visually highlight the missing cash flow link.",
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      "text": "Warning: Given our concerns that capex is overstated, one way to potentially “flush” it would be to dispose of it. Therefore, we investigated Oatly’s “Disposal of PP&E” in its SEC filings. To verify that these are actual asset sales, we cross-referenced it against the historical foreign filings which are called “Loss on Sale of Assets”. Notice carefully, that Oatly does not report any cash associated with asset sales that should flow through the “Investing Activities” section of the cash flow statement.",
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      "text": "Notice carefully, that Oatly does not report any cash associated with asset sales that should flow through the \"Investing Activities\" section of the cash flow statement.",
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      "text": "Consolidated statement of cash flows",
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      "text": "Note 23 Adjustments for non-cash items",
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      "text": "Source: Oatly Prospectus",
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      "text": "Source: 2019 Companieshouse Report",
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      "text": "Asset Sales With No Cash Consequence?",
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