Patient Investor
Real Estate Developer, Public & Private Equity Investor Since 2016
Richtech Robotics has broken trust, which matters more than its restatement. It said its FY2024 and FY2025 financials and four quarterly 10-Qs cannot be relied upon, mainly over warrant and SEPA accounting it calls primarily non-cash. But its December 10-Q said a material weakness was remediated, this filing says it was not, another is coming, and other adjustments could be material. Heavy panic selling looks likely despite the muted reaction. x.comÂ
Richtech Robotics is too close to a lotto ticket because of persistently untrustworthy management, despite its potential and very small market cap. x.comÂ
Richtech Robotics showed all the red flags: under $10M in the bank while trying to sell AI robots, which takes hundreds of millions to do properly, heavy at-the-market dilution, a team with little experience, and customers presented as partnerships. x.comÂ
Datavault AI's accounting errors make its previously issued financial statements unreliable. Its 8-K says errors involving a Bitcoin-denominated stock purchase and Bitcoin exchanges will require restatements expected to reduce reported assets; management is also reassessing its going-concern evaluation. x.comÂ
Super Micro's management cannot be trusted, which is reason enough to stay away. Its claims, especially the "$60B in backlog," deserve heavy skepticism, and the company now sees fiscal Q4 revenue near the low end of its $11B-$12.5B guidance. Reliable management that turns words into action and does not engineer the books is a core requirement, and SMCI fails it. x.com x.comÂ
Super Micro keeps showing accounting irregularities. Per another analyst, auditor BDO issued an adverse opinion on its internal controls for a third time in the FY26 10-K, and the PCAOB's latest inspection of BDO shows significant overlap between the firm's recurring audit deficiencies and Super Micro's outstanding material weaknesses. x.comÂ
Super Micro's fundamentals are outrunning fear over its legal and accounting baggage. Its quarter beat with EPS of $0.84 versus $0.61 expected, gross margin rebounded to 10.1%, showing regained pricing power, and next-quarter revenue is guided up to $12.5 billion as AI customers queue for liquid-cooled servers. Management found no need to restate past results despite audit delays. Given the China export, DOJ and accounting issues, this is a bounce trade, not a long hold. x.com x.comÂ
Hesai is a sell because Chinese companies do not follow US accounting standards or enforcement, leaving financials less transparent and harder to verify, a risk most investors underappreciate. x.comÂ
