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  "docSlug": "62a680ba117e",
  "documentTitle": "Intelligent Systems Corp (INS)",
  "authorId": "62_Grizzly_Research",
  "authorName": "Grizzly Reports",
  "documentKindSlug": "research-note",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-05-30 00:00:00",
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  "notes": "The slide uses a classic short-seller report format, combining a narrative of corporate malfeasance with a summary table of company metrics.",
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      "kind": "callout",
      "text": "We believe that these material undisclosed related party transactions cast doubt on the integrity of INS’s financial statements. Accordingly, we assign INS a price target of $5",
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      "text": "Please read our disclaimer here: https://grizzlyreports.com/termofservice/",
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      "kind": "list",
      "text": "We believe that Intelligent Systems Corp. (INS) has its employees set up or take control of undisclosed shell companies in Asia, who then partake in undisclosed related party transactions with INS intended to either round-trip revenue back to INS or siphon money out of the company.",
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      "text": "Projected Downside: 85%",
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      "kind": "table",
      "text": "Company: Intelligent Systems Corp; Ticker: INS; Industry: Software - Infrastructure; Exchange: NYSE; Price: $33.94; Shares Outstanding: 8.95m; Daily Volume: 161,891; Projected Downside: 85%; Publication Date: May 30, 2019",
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      "kind": "title",
      "text": "Intelligent Systems Corp: Material Undisclosed Related Party Transactions Cast Doubt on the Integrity of Financial Statements",
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      "evidence": "Introduction to INS and the issue of undisclosed related party transactions.",
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