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  "documentTitle": "Heska Corporation (HSKA)",
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      "text": "Consistent with Heska's ongoing effort to create the appearance that the Company is pursuing product innovation, we believe Heska management blatantly overhyped the technical capabilities of scil after the deal. scil explicitly stated in its German annual financial reports that it does not conduct its own R&D.",
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      "text": "Our conclusion is further supported by a review of Heska R&D expenses, which are lower on an LTM basis (during which time Heska has supposedly been developing new products) than they were in 2019 before the scil transaction",
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      "text": "Consistent with Heska's ongoing effort to create the appearance that the Company is pursuing product innovation, we believe Heska management blatantly overhyped the technical capabilities of scil after the deal.",
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      "text": "Disclosure in the scil animal care German Entity's 2019 Financial Report",
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      "text": "Wilson Comments on Heska Q1 2020 Earnings Call",
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      "text": "Ben Haynor, Alliance Global: \"...scil has quite a broad line of laboratory diagnostics... Is there any plan to bring some of these things to other geographies?\" Kevin Wilson, Heska CEO: \"Yes. So they do have good products. They also have a great internal R&D team...\"",
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      "text": "Research and Development. As a company specializing in sales and marketing, scil does not conduct its own research or development.",
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      "text": "Research and Development. As a company specializing in sales and marketing, scil does not conduct its own research or development. — scil animal care German Entity's 2019 Financial Report. Yes. So they do have good products. They also have a great internal R&D team. Their technical team is extraordinary. And they have some very nice projects in progress. — Kevin Wilson, Heska CEO",
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      "text": "Source: Heska SEC filings, scil animal care company GmbH 2019 filing with Unternehmensregister, Bloomberg",
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      "text": "Research and Development | Pre-Scil 2019: $8.2 | Post-Scil LTM: $8.1",
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      "text": "Heska Potentially Misrepresented The R&D Capabilities of scil",
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