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Louis County: forge ahead Challenges persist, but roads getting fixed, partnerships proving effectiveReader View: Franken, his hugs are neededReader View: Schultz missteps with true or not commentCity Council President's View: State, federal partners can't let Duluth downoutdoorsHeadlinesMinnesota DNR taking comments on draft timber harvest reportMeditation on ice: Waiting for crappies to biteAsk a Conservation Officer: Different types of snowmobile trailsField Reports: Dougherty named to Minnesota Fishing Hall of Fame Houston fishing report: Best action still on inland lakescommunityHeadlinesPets of the Week for Dec. 26, 2017Grandma Brag BookYourSportsAdopt a Family helps fiveSnapshot for Dec. 24, 2017GRAND RAPIDS A 23 year old woman who admitted to beheading a Hibbing man after an alleged sexual assault received forgiveness from the victim's family but a maximum sentence from the judge..

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iphone x cases All expressions of opinion are subject to change without notice, and we are not obligated to update any of our opinions or research after making it available.We are short Axon Enterprise (AAXN) because we believe that the company is worth far less than its current market value. We believe that Axon has overstated its underlying profitability and inflated its revenue growth through aggressive accounting, where future revenue and profits are pulled forward and associated costs are deferred far into the future.1As detailed in our report earlier this week2 we believe:Aggressive accounting changes have dramatically inflated Axon's reported profitability by more than 50% and revenue growth by over 33% Material weaknesses in internal controls, CFO iPhone Cases resignation, potential ongoing SEC investigation, delayed filing of 10 K, and accounting adjustments further highlight our concerns about Axon's aggressive accounting Free cash flow is collapsing (and now negative) while adjusted profits soar There exists a disturbing pattern of questionable payments to politicians, police officers, and other key decision makers Weapons division sales and profits are dramatically inflated due to aggressive accounting and catch up demand Body camera hype is fading, and Axon is rapidly losing market share Axon shares are overvalued by 39 56%After the market close yesterday (October 19, 2017), and shortly after the release of our report suggesting that Axon had a previously undisclosed SEC investigation, Axon disclosed that it "became aware" of a letter from the SEC to the company "relating to the SEC's review" of Axon's most recently filed 10 K and the 10 Q from Q1 2017.3Based on new filings uploaded to the SEC website yesterday4, we can see that there have been even more discussions between Axon and the SEC than the twenty two letters we had already highlighted in our previous report.In a September 20, 2017, letter from the SEC to Axon, the SEC states that Axon has "not provided a substantive response" to its earlier comment letters and ominously says that it "will take further steps as we deem appropriate."5Source: SECAs mentioned in the letter above, the SEC did indeed proceed with "releasing publicly all correspondence, including this letter, relating to the review of [Axon's] filing"In these SEC letters, we can see that the SEC asks questions about many of the aggressive accounting issues that we cited in our report (where we believe Axon's choices have dramatically inflated reported profitability by more than 50%). For example, in a letter to Axon from the SEC dated August 10, 2017, the SEC asks about:1 iphone x cases..
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