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  "documentTitle": "Generac Holdings, Inc. (GNRC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-06-22 00:00:00",
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  "notes": "The slide uses a red-flag callout to emphasize the risk of uncollectable receivables.",
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      "kind": "callout",
      "text": "Spruce Point finds a common theme of uncollectable receivables within the Pramac Group. Its Asian subsidiary domiciled in Singapore was recently liquidated in 2021 and its last filed financial statements showed a large portion of receivables due beyond 1 year and an allowance of 36.5% against gross receivables.",
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      "text": "Financial statement excerpt showing trade receivables aging and ECL",
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      "text": "allowance for doubtful accounts: 36.5%",
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      "text": "Source: Acra Singapore under Pramac Asia PTE Ltd",
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      "text": "Transaction details for Pramac Asia striking off",
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      "kind": "title",
      "text": "Pramac Asia: Wound Down, Uncollectable Receivables",
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