ZST Digital Networks
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Research Overview

INDEX:
S&P 500
Sector:
Technology
Position:
Short
Date:
Nov 3, 2010

After conducting a forensic financial and accounting review, Spruce Point believes ZST Digital Networks (OTCPK: ZSTN), a communications equipment commercial company, has been deceiving U.S. investors of a business generating superior sales and earnings growth without any cash flow generation as financial models appear to favor customers, suppliers and business partners at the expense of shareholders. Based on our latest investigation we estimate a range of $50 -$150 per STB.

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