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  "docSlug": "377026890e4d",
  "documentTitle": "B. Riley Financial, Inc. (RILY)",
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  "authorName": "Wolfpack Research",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-02-08 00:00:00",
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  "notes": "The slide uses Bloomberg stock charts to illustrate the decline of two companies involved in complex financial arrangements with B. Riley (RILY).",
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      "kind": "callout",
      "text": "RILY agreed to purchase $1 million in shares at $0.75 cents in an ATM offering underwritten by ... RILY itself. Also, 15% of the ATM proceeds go to repay GREE’s debt to RILY, adding to the circularity of the transaction.",
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      "text": "Greenidge Generation Holdings (GREE) reorganized the $11 million it owed RILY at the end of January after missing payments in December and January.",
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      "kind": "paragraph",
      "text": "Sorrento Therapeutics, Inc. (SRNE), has issued a going concern every quarter since it disclosed one in March 2022.",
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      "evidence": "The document agitates these problems, detailing the losses from GREE, XELA, and BRIV, and highlighting the company's opaque loan book.",
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