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  "documentTitle": "Intelligent Systems Corp (INS)",
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  "presentationDate": "2019-05-30 00:00:00",
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      "text": "Specifically, we have found definitive evidence of INS lending money to startups controlled by INS employees in India, then slowly funneling that initial investment back to INS through a network of related Indian and Asian companies, allowing INS to book it as revenue.",
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      "text": "Please read our disclaimer here: https://grizzlyreports.com/termofservice/",
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      "text": "Notable short publishing outfit Aurelius Value has recently published a damning report on INS that we invite readers to view here. Our report includes minimal overlap with Aurelius’s research. We believe that our findings of undisclosed related party transactions further corroborate the presence of significant wrongdoing on INS’s part. We note that none of the undisclosed related party transactions that we detail in this report are also discussed in the Aurelius report.",
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      "text": "Intelligent Systems is a low-quality payments provider masquerading as the “next big thing”. While its financial statements and share price have recently gone parabolic, we see evidence that some of this growth may have been achieved through undisclosed related party transactions between INS and a network of Indian and Asian companies, rather than through true business prowess.",
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      "text": "Specifically, we have found definitive evidence of INS lending money to startups controlled by INS employees in India, then slowly funneling that initial investment back to INS through a network of related Indian and Asian companies, allowing INS to book it as revenue. Wall Street appears to take INS’s management at its word, mindlessly extrapolating continued hyper-growth without questioning where this growth is actually coming from.",
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      "text": "We believe Aurelius did a great job elaborating on how the supposed recent Apple/Goldman relationship is most likely not going to result in enormous profits, as investors seem to expect. We also concur that INS has invested way too little in the development of their technology to give it any kind of differentiated advantage in the marketplace. For the sake of not boring the reader, we refer you to Aurelius’ report and will not comment on these issues further in this report.",
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