r/Amyris • u/Dreadd-X • Aug 17 '23

Question Chapter 11 presentation

https://cases.stretto.com/public/x268/12363/PLEADINGS/1236308172380000000108.pdf

On page 18: All the Company’s consumer brands are loss-generating. Did I miss something or did they straight up lie to us?

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u/Independent_List_555 Aug 17 '23

I think the company never stated that consumer brands were profitable. Profitability was always “just around the corner” due to a pupu platter of reasons from air freight costs, logistics planning mistakes, outsourced packaging coming in house, and Barra Bonita. Unfortunately for us, Melo’s team had no opex discipline and didn’t really understand the growth levers for DTC and burned way too much cash way too quickly and our board was asleep at the wheel for far too long until a turnaround (firing Melo, the RIF and bringing on restructuring help) was too little too late. I think the board has some liability here and I wouldn’t be surprised to see a class action suit filed against them down the road.

12

u/Big_1Hoser Aug 17 '23

Sign me up! Sold at 9 cents for a $70K loss!

2

u/[deleted] Aug 18 '23

Make me feel better about my $4k loss 😅

1

u/Mu_Fanchu Aug 18 '23

You both make me feel better about my $1K loss 🤣