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Peak Skis Investment opportunity

fatbob

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I'm just holding out for a producer credit on the inevitable Netflix doc series.

If Fyre Festival and Pepsi where's my jet? Can be entertaining " true crime" docs why not the hide the lady of the international ski business. International sport, glamorous locations, maybe some real A listers via the Yellowstone Club, lots of talking heads expounding on how the dream went wrong in rugged knitwear and hats and perfectly staged chalets.
 

cantunamunch

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I only have one question out of all of this... when anyone in this thread has written "jelly", did you mean this?


View attachment 216201

The bottom one. Protein, not polysaccharide :)

I'm just holding out for a producer credit on the inevitable Netflix doc series.

If Fyre Festival and Pepsi where's my jet? Can be entertaining " true crime" docs why not the hide the lady of the international ski business. International sport, glamorous locations, maybe some real A listers via the Yellowstone Club, lots of talking heads expounding on how the dream went wrong in rugged knitwear and hats and perfectly staged chalets.

Eh...USAian Netflix in-house docs play fast and loose with facts.

I'd almost rather it be a Keanu Reeves fronted HuluDisney production, it would certainly get the tone you're looking for right.
 

fatbob

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Well I don't think @fatbob is British (based on his spelling and grammar) though I am making an assumption here.

I dumb it down for youze guys sometimes. AIUI jelly of the jello and personal lubricant variety are sometimes used.

You can choose. It'll be the intro hook and in the trailer for the Netflix series.
 

teejaywhy

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Maybe the crowd sourced $$ are for inventory lol That said their financials are radioactive, and I am not sure their sales constitute a "high growth company". Now all that being said and done this could make for an interesting episode of SharkTank and what is crazy is that they might even get a deal there lol
see post # 9
 
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Wasatchman

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see post # 9
I think it would make a very entertaining episode if they did get on shark tank.

I can imagine one of the sharks asking the question, "hey guys, browsing through the financials over the last 2 years it looks like you guys got paid quite handsomely in terms of salaries (nearly $5 million G&A expense), spent a chunk on marketing, while at at the same time spent virtually nothing on R&D (roughly $75,000). Now you're asking for more money"

I would love to know how they would answer that. I had a good enough laugh reading the filings, I can only imagine how entertaining a shark tank episode would be.
 
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MikeHunt

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I would love to know how they would answer that. I had a good enough laugh reading the filings, I can only imagine how entertaining a shark tank episode would be.

"It's now how much you spend on R&D, it's how you spent it. We put a hole and Air Tag in a ski. A HOLE AND AN AIR TAG and we revolutionized the ski industry. "
 

SBrown

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According to the website, it’s not about money but is an effort to "democratize" the industry.

:roflmao:

This is on a much different scale, but I can’t stop thinking about when one of those Kardashians did a Go Fund Me for her dog sitter, or something like that? And everyone was, UH, you’re basically a billionaire … pay your own dog sitter. Again, not a direct parallel, but those are the vibes.

Except, of course, for the YC clientele, most of whom are probably much smarter about money than that or else they wouldn’t be YC clientele. Not to say a few big donors wouldn’t help, but, in the end, it’s not really that much money, so I figure those avenues are dead ended.
 

ctsnowplow

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:roflmao:

This is on a much different scale, but I can’t stop thinking about when one of those Kardashians did a Go Fund Me for her dog sitter, or something like that? And everyone was, UH, you’re basically a billionaire … pay your own dog sitter. Again, not a direct parallel, but those are the vibes.

Except, of course, for the YC clientele, most of whom are probably much smarter about money than that or else they wouldn’t be YC clientele. Not to say a few big donors wouldn’t help, but, in the end, it’s not really that much money, so I figure those avenues are dead ended.
The weird thing is that the money they are asking for does not solve any of their problems. They need to drastically cut their saleries, overhead etc to turn this around. I am sure they loved getting $250K+ last year, but they honestly cant afford to pay themselves more than $50K moving forward. With the debt Peak skis already has already have, they can not spend on marketing or advertising either, so as a DTC brand not sure how they generate enough revenue to satisfy debt obligations yet alone move forward.
 

MikeHunt

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G&A was nearly $4 million last year. I wouldn't be surprised at all if Andy and Bode got paid over a million each last year.
We live in a capitalistic world and this is the price you pay for the highest Q-rated winter athlete in the world.

Screenshot_20231122_104915_Chrome.png
 

fatbob

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Are we sure Bode and Wirth have been taking big bucks out? There's business hubris and then there is pure greed. That's usually a red flag for any debt holders who start lining up what they are going to do once they seize the assets.

Maybe they've just been crap at cost control not least because their VP Finance seems from the CV like a pretty junior accountant who is possibly not used to holding big egos to account and managing a tight ship.
 

ctsnowplow

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Are we sure Bode and Wirth have been taking big bucks out? There's business hubris and then there is pure greed. That's usually a red flag for any debt holders who start lining up what they are going to do once they seize the assets.

Maybe they've just been crap at cost control not least because their VP Finance seems from the CV like a pretty junior accountant who is possibly not used to holding big egos to account and managing a tight ship.
I don't know how else you could possible spend $4M in G&A without pretty large salaries. These guys were clearly greedy and clearly did not care if Peak was going to work or not. They took the cash and screwed the note holders.
 

fatbob

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Yeah looking at it again the disclosure says G&A is mainly payroll and as they are about 10 heads including the horse that's a tidy amount each. And I doubt the retail shop girl and the warehouse guys are getting $400k each.

Half tempted to register on Republic to ask Tracy Chang the question on explaining how G&A was/is so big yet they've got the begging bowl out now. The questions people have asked are so dumb like assuming the shares actually have a value. Does no one understand balance sheets these days?

I guess it's a legacy of a meme stonking runaway tech unicorn world.
 
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ctsnowplow

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Yeah looking at it again the disclosure says G&A is mainly payroll and as they are about 10 heads including the horse that's a tidy amount each. And I doubt the retail shop girl and the warehouse guys are getting $400k each.
So they raised $8M on a convertible note just to pay themselves $1M each. The negligence of the BOD is staggering to let that happen. I would not be surprised to see a lawsuit if that is the case.
 
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Wasatchman

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So they raised $8M on a convertible note just to pay themselves $1M each. The negligence of the BOD is staggering to let that happen. I would not be surprised to see a lawsuit if that is the case.
I don't think what they did is illegal for a basis to be sued. Shameful, absolutely in my view, but not illegal. But you can see why the initial investors wouldn't be in any hurry to give them more cash. Hence this crowdsourcing "opportunity ".
 

ctsnowplow

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I don't think what they did is illegal for a basis to be sued. Shameful, absolutely in my view, but not illegal. But you can see why the initial investors wouldn't be in any hurry to give them more cash. Hence this crowdsourcing "opportunity ".
There have been many lawsuits over negligent management and compensation that was not properly disclosed. Investors would/should be pissed and have every right to sue. If they can prove negligence by management or the BOD, something could come of it.
 
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Wasatchman

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There have been many lawsuits over negligent management and compensation that was not properly disclosed. Investors would/should be pissed and have every right to sue. If they can prove negligence by management or the BOD, something could come of it.
This ain't Andy's or Bode's first rodeo doing this stuff. Look at their history. I think it is highly likely they have themselves protected legally. Just like this offering has them protected in telling you there is a high likelihood you're going to lose all your money. But who knows, you might be right.
 

aveski

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That Bronco doesn't come cheap, probably a company vehicle. Doesn't really matter, I'm not investing.
Screenshot_20231121-195437.png
 

dovski

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This ain't Andy's or Bode's first rodeo doing this stuff. Look at their history. I think it is highly likely they have themselves protected legally. Just like this offering has them protected in telling you there is a high likelihood you're going to lose all your money. But who knows, you might be right.
So at face value Bode's name does carry some weight in the ski world. If he was not the owner how much would his endorsement, name and likeness for a ski cost, and how much ownership does he actually have in Peak? Pretty sure that Bode can easily command $1M a year, so without knowing the details behind his ownership and what was shared with investors I think we are making some pretty big assumptions. The issue here is not a legal one as far as I can tell. From what I know and reading the fine print my take away is as follows:
  1. This company is in trouble, the numbers don't lie
  2. This crowd sourcing deal is a bad investment and they basically tell you that you will likely lose your money at least that is my interpretation of their fine print which also probably protects them legally if you do lose all your money
  3. The way they describe this as democratizing the ski industry is a bunch of marketing mumbo jumbo to distract from how poor an investment this is
  4. From what I have heard they make a nice ski
What I do not know is what they will actually use these funds for and if it is part of a turnaround plan to get the company back on track, which arguably would be more important for someone considering investing in them. It is easy to make assumptions and fill in the many blanks but the reality is we just don't know what we don't know. So as I said before, I really hope they turn this around and am rooting for them to do so, but no with my money.
 

Philpug

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I think it would make a very entertaining episode if they did get on shark tank.

I can imagine one of the sharks asking the question, "hey guys, browsing through the financials over the last 2 years it looks like you guys got paid quite handsomely in terms of salaries (nearly $5 million G&A expense), spent a chunk on marketing, while at at the same time spent virtually nothing on R&D (roughly $75,000). Now you're asking for more money"

I would love to know how they would answer that. I had a good enough laugh reading the filings, I can only imagine how entertaining a shark tank episode would be.
If you have watched Shark Tank, you would realize that most do not invest in seasonal companies ... skiing is as seasonal as anything. But your point is taken, most of these sharks would swim away, including Mike Rubin who started his empire in skiing.

Speaking of Shark Tank, Bode was on the investing side in the TV show Adventure Capitalists.


Where he was willing to buy the company for $1M but the offer was not accepted.
 

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