{
  "docId": "019dd923-622c-750b-8b99-c1d722fc47f6",
  "docSlug": "93a89beead91",
  "documentTitle": "Uranium Energy Corp (UEC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-09-18 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 32,
  "pageCount": 39,
  "prevPage": 31,
  "nextPage": 33,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 24,
  "notes": "The slide highlights a specific red flag regarding corporate governance and audit quality.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "callout_box",
    "comparison_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-c1d722fc47f6/32",
  "deckHref": "/decks/019dd923-622c-750b-8b99-c1d722fc47f6",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-c1d722fc47f6.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-c1d722fc47f6#slide-32",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.96,
        "x": 0.02,
        "y": 0.34
      },
      "kind": "callout",
      "text": "Valuation of mineral rights and properties acquired along with assessment of impairment indicators of long-lived assets have been prominently described as \"Critical Audit Matters\" in the past two Annual Reports. These amounts constitute ~77% of UEC's assets and very little has been spent on the audit.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "56d5cfb7-a96c-4bb0-af8b-cd7286615d5b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Investors should be cautioned that UEC's audit fees in relation to its reported total assets are miniscule.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-1ac5-725e-9dc9-e45ecde3731c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Audit Fee / Assets: 0.05%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-1ac5-725e-9dc9-e920d9534755",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.96,
        "x": 0.02,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "Investors should be cautioned that UEC's audit fees in relation to its reported total assets are miniscule. UEC has had three auditors since coming public including Dale Matheson Carr-Hilton LaBonte LLP (2004-2007), Ernest & Young (2008-2020) and PwC (2020-present).",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1427a24f-d6e6-4e44-9816-8414231e363a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.02,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Company filings and proxy statements.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "203c1102-f508-4103-b93e-2e3c5144c004",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.42,
        "w": 0.96,
        "x": 0.02,
        "y": 0.5
      },
      "kind": "table",
      "text": "Audit Fee Analysis of Junior Miners and Explorers",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a9c6b86f-38e6-47b8-8fab-125f9ae40df3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.68,
        "x": 0.28,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Believe That UEC's Miniscule Audit Fees Are A Major Red Flag....",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c4ac2a17-e63f-4efc-b134-5a9171aec72e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "ec53d8d2-f108-4ac0-a17c-fc244213e5a0",
      "evidence": "The slide uses a peer group table to highlight a discrepancy in audit fees.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 39,
      "from": 7,
      "beatId": "f1ee6ffe-0e69-48e1-ad84-f3e4e03810b5",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "Multiple slides expose contradictions and red flags in UEC's management and governance.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}