{
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  "docSlug": "cce862680d4f",
  "documentTitle": "Heska Corporation (HSKA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-10-25 00:00:00",
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  "pageNumber": 87,
  "pageCount": 128,
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  "nextPage": 88,
  "slideType": "expose_contradiction",
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  "notes": "Uses screenshots of Florida Annual Reports to link Biotech Labs and Biotech Holdings USA to the same individuals/entities.",
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      "kind": "callout",
      "text": "We find it strange that Heska only acquired a majority stake in Biotech Labs. If the company and market opportunity are as promising as Heska claims, why not buy control? The answer may lie in Biotech Holdings USA, the selling entity, which is owned by Adrian Alexandru, a retired New York veterinarian with over 50 corporate entities registered in Florida, New York, and Nevada. An untraditional seller, to say the least, he seems to gotten the better of Heska in the deal negotiations.",
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      "kind": "callout",
      "text": "We find it strange that Heska only acquired a majority stake in Biotech Labs. If the company and market opportunity are as promising as Heska claims, why not buy control?",
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      "toolName": "Visual emphasis",
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      "text": "Biotech Labs Florida Annual Report",
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      "kind": "image",
      "text": "Biotech Holdings USA Florida Annual Report",
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      "kind": "source-note",
      "text": "Source: Opencorporates, State of Florida Division of Corporations, State of Florida Division of Corporations",
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      "kind": "title",
      "text": "Why Did Heska Only Acquire A Majority Stake?",
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      "evidence": "Questioning the legitimacy and structure of a deal by exposing the seller's background and corporate network.",
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      "beatName": "The Victory",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "The deck concludes with a strong sell opinion and a call to action for investors.",
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      "confidence": 0.8,
      "parentBeatName": "Turn",
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