/biz/ - Business & Finance

>>50945167
Yes LOCL is a SPAC shitco
>>50945196
It's bullshit to do with their machinery/equipment CapEx. What I'm about to describe below is a HUGE red flag with LOCL.

These useful lives on machines are extended falsely.

.Machinery & Equipment:

>5 years 15 years (3x)

>Certain Production Equipment:

> 5 years 10 years (2x)

>Depreciation expense was reduced by $117,000
> While the end result is immaterial, changes in useful life are a RED FLAG

Pic related from LOCL's recent 10-K.

Sell this company, short thefuck outta it because its pumping on BS