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  "documentTitle": "Berkeley Lights (BLI)",
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  "presentationDate": "2021-09-15 00:00:00",
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      "text": "The sheer number of red flags leads us to conclude that BLI is worth $0 over time: 1) no present value based on earnings or cash flows... 2) no value from growth... 3) no net asset or product value...",
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      "text": "Source: Capital IQ data; Scorpion Capital estimates and analysis; free cash flow calculated as operating cash flow plus capital expenditures.",
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      "text": "1) Introduction to the real Berkeley Lights; warning signs of a looming collapse and other red flags",
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