Ebix Accounting 'Unreliable', Tax Strategy 'Sham': Research Firm

In a report on Ebix Inc (NASDAQ:EBIX) embedded below analysts at Research firm Gotham City discuss why they believe:

• Ebix Inc (NASDAQ:EBIX)’s Accounting is Unreliable, Inaccurate, and Incomplete (there’s a large undisclosed related party loan, for starters)
• Their Stated Tax Strategy is a Sham in Fact or Sham in Substance
• Ebix’s Stock Deserves to be Halted, until the SEC filings are Reliable, Accurate, and Complete (e.g., the 2010 & 2011 10Ks were submitted before the Singapore subsidiary’s 2010 financial statements were signed off)
• Shares are Worth No More Than $5 (shares closed yesterday at $19.07)
• The Robin Raina Foundation’s IRS Filings Are Not Reliable, Accurate, or Complete

Ebix Inc (NASDAQ:EBIX) very much reminds us of Lernout & Hauspie, Aremisoft, and other...