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  "documentTitle": "Intelligent Systems Corp (INS)",
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  "presentationDate": "2019-05-30 00:00:00",
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  "notes": "This is a short-seller research note conclusion.",
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      "text": "We believe that INS’s common stock is uninvestable, given that these significant and material related party transactions in our view cast doubt onto the integrity of INS’s financial statements.",
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      "text": "We believe that INS's common stock is uninvestable, given that these significant and material related party transactions in our view cast doubt onto the integrity of INS's financial statements.",
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      "text": "We have laid out in this report why we believe that INS is partaking in significant undisclosed related party transactions. These transactions could serve to artificially inflate INS's revenues by round-tripping cash from INS through shells back to itself. There is also possibility that in the middle, INS's employees siphon out money from INS for themselves.",
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      "text": "The fact that INS seems to have made a conscious effort to hide that the investment in Flexopt is a related party transaction worries us deeply. Two-way transactions, where the company invests or lends to a buyer of services are often complicated and leave room for manipulation. Two-way transactions with undisclosed related parties are the biggest red flag we can think of.",
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      "text": "Aurelius Value's report discusses INS's relationship with its auditor in much more detail, including personal ties between INS CEO Leland Strange and audit partner Ian Waller. It also touches upon another undisclosed related party transaction between INS, Strange, and a startup Lumense. Again, we encourage readers to personally read the entirety of Aurelius's report.",
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      "text": "Please read our disclaimer here: https://grizzlyreports.com/termofservice/",
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