Sahm Adrangi is a founder and chief investment officer at Kerrisdale Capital Management LLC. He completed his graduation in Bachelor of Arts in Economics from Yale University. At the beginning of his career, Sahm Adrangi worked for finance group of Deutsche Bank. He was an Investment Analyst at Longacre Fund Management, LLC and in 2009 he founded Kerrisdale Capital Management LLC.
Sahm Adrangi released an article about Eastman Kodak Company; it is a 138-year-old firm which deals with commercial printing and imaging. It used to provide motion picture film products. In recent, the company announced its partnership with blockchain and cryptocurrency. Since then its stocks reached more than double of their value. It did so to earn money and get back to the platform. They are trying to save the company from being bankrupt. They just claimed that blockchain would remove the problem of IP ownership and other occurring problems. The photographers would be paid properly. One day prior to announcement 370,974 restricted stock units were bought by five board members of the company.
The company will go through the SEC inquiry because they have found irregular and inconsistent in their transactions and they don’t have appropriate documents. Their plan has not been appreciated by anyone and people running it is anonymous. In 2018 they launched the Kodak “Kashmir” a Kodak bitcoin. And other with schemes have been found guilty. Due to which this bitcoin is not trustworthy.
There is no information regarding the people behind it. During a press conference, they told that now WENN Digital will lead it and KODAK One is not responsible for anything. Around 7.5% of stocks of WENN Digital are with Appcoin and 12.5% of its stocks are with Appcoin’s chairman. Redstone Literary Agents, Inc was renamed as Appcoin Innovations Inc and it began dealing in bitcoin and ISO related advisory.
Ryde and WENN Media collaborated which resulted in the formation of WENN Digital. Kodak had signed a contract for selling products with American Spotlight for selling the product named Bitmain Antminer S9 under their brand name for two years but the contract ended up after nine months due to their useless schemes. Kodak is dying and will not be able to survive on its useless schemes like Blockchain. They have announced many promising schemes and program but never came to any conclusion. Sahm Adrangi realized it and made everyone aware of the reality of Kodak.