Skip to main content


Showing posts from December, 2007

Warning to White Collar Criminals: Plan Ahead

If you are a white-collar criminal, plan on eventually being caught. It's just a matter of time. The Federal Prison Camp Tour website does an outstanding job of helping you plan ahead for your eventual future abode in the can.The Federal Prison Camp Tour web site warns:For any prospective federal camper...This material is not necessarily something you want to see, but certainly something you need to see. This web site is recommended reading for lying CEO's like Patrick Byrne (, Richard Altomare (Universal Express), and a corrupt Utah Attorney General named Mark Shurtleff. Other criminal wannabees are recommended to plan ahead too.Kindest regards,Sam E. Antar (former Crazy Eddie CFO & convicted felon)

Open Letter to Utah Attorney General Mark Shurtleff Re: Your lies on behalf of campaign contributor

To Utah Attorney General Mark Shurtleff:I respectfully urge you to come clean about your efforts to smear me on behalf of your campaign contributor and its CEO Patrick Byrne.The Securities and Exchange Commission is conducting a formal investigation of Patrick Byrne is the admitted target of the SEC probe in contrast to his previous denials. By colluding with a public company and campaign contributor under investigation by the Securities and Exchange Commission to issue a press release containing lies and distortions about me, you have become a facilitator of the company and possibly involved yourself in the commission of a securities fraud.I urge you to promptly issue a full and complete categorical retraction of your false and misleading open letter to and issue a full public apology to me. In addition, and its CEO Patrick Byrne are asked to completely and fully rescind the company's false and misleading press release cont… and CEO Patrick Byrne: Improper use of EBITDA results in Regulation G Violation

In my previous blog post entitled, " and CEO Patrick Byrne: Regulation G Violations," I focused on the company's possible violation of Regulation G when it presented a certain non-GAAP financial measure known as "Operating loss before restructuring" in its recent second and third quarter 10-Qs and "Adjusted EBITDA" in the second quarter 10-Q for fiscal year 2007.In this blog post, I examine's (NASDAQ: OSTK) presentation of another non-GAAP financial measure, known as "earnings before interest, taxes, depreciation, and amortization" or EBITDA. Based on my analysis below, it appears that violated Regulation G by reconciling its non-GAAP financial measure, EBITDA, to "Operating loss" rather than "Net loss," contrary to the SEC's guidance on Regulation G. The result of reconciling EBITDA to "Operating loss" rather than "Net loss," contrary to t…