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Slide 1
This is a short-seller research note (Grizzly Research).HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Monster1 hit
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The document is a standard German-language legal disclaimer for an investment research firm.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Monster1 hit
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German language version of the standard Grizzly Research legal disclaimer.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Monster1 hit
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The slide uses highly provocative language ('Das letzte Abendmahl', 'Zusammenbruch', 'quixotische Pivots') typical of short-seller research reports.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Monster1 hit
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The slide uses a table to document specific share pledging events by the CEO.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Monster1 hit
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The slide uses network diagrams and organizational charts to map the flow of capital from HelloFresh to a private real estate empire.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Struggle1 hit
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Includes a screenshot of a balance sheet (Handelsbilanz) for DSR Ventures GmbH.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Struggle1 hit
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The slide uses a table to highlight the pattern of buying and immediately pledging shares, suggesting a liquidity crisis for the CEO.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Struggle1 hit
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The slide presents a bearish thesis on HelloFresh, focusing on capital allocation and potential conflicts of interest.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The Struggle1 hit
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The slide uses a screenshot of the HelloFresh IR website to demonstrate a broken link path for 'Director & Officers Dealings'.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The StruggleLoop · Cost Of Inaction1 hit
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The slide uses a stock chart from Yahoo Finance to highlight a specific drop in volume and price on Oct 29th, 2025, as evidence of frontrunning.HelloFresh SE (HFG) · Grizzly Research
Research note Short seller Beat · The StruggleLoop · Cost Of Inaction1 hit
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Slide 1
The slide uses a classic short-seller report format, combining a narrative of corporate malfeasance with a summary table of company metrics.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Monster1 hit
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The slide uses a 'villain' framing, characterizing the subject as a 'low-quality payments provider masquerading as the next big thing'.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Monster1 hit
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Grizzly Reports short-seller research note.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Monster1 hit
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Image file not found at /tmp/legacy-images/62a680ba117e/slides/004.jpg; unable to inspect page contents.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Monster1 hit
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The slide uses red circles to highlight specific line items in the balance sheet and notes.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide uses a table of creditors to argue that Flexopt is a shell entity used to funnel money back to CoreCard.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide uses a financial statement to argue that revenue is artificial and derived from related-party transactions.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide uses forensic accounting and corporate registry data to challenge the legitimacy of revenue and independence of a business partner.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The StruggleLoop · Aha Moment1 hit
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Uses Wayback Machine screenshots as evidence of historical website content.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The StruggleLoop · Aha Moment1 hit
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This is a research note from Grizzly Reports alleging financial impropriety.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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Includes a table of Sundry Creditors and a table of Director Details for New Vision.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide uses investigative research to link an individual to undisclosed related party transactions.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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This is a research note from Grizzly Reports alleging financial impropriety.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide includes a red circle annotation around the client name. The bottom text provides context linking the project to a specific entity (INS).Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide uses screenshots of an App Store page and version history to establish a timeline and business relationship.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Struggle1 hit
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The slide uses a screenshot of a LinkedIn profile to substantiate claims of overlapping employment periods.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The StruggleLoop · Iceberg1 hit
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This is a short-seller research note conclusion.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Victory1 hit
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The map uses numbered nodes to represent specific relationships or connections between entities.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Victory1 hit
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This slide serves as a supporting appendix for a short-seller report, specifically highlighting related-party transactions and hidden affiliations.Intelligent Systems Corp (INS) · Grizzly Reports
Research note Short seller Beat · The Victory1 hit