Reposting the Original Report: Overvalued Roll Up with Hidden Related Party Transactions, Conflicts of Interest, SEC Violations, and 50%+ Downside

Due to strong investor demand after news of the SEC's investigation into RCI Hospitality, I am reposting the original short report that started it all.

A few things to keep in mind when reading the report:

• The report was published in June of 2018 when the stock was trading above $32 per share.
• The section predicting a Bombshells implosion was published while RICK was still posting strong positive comps from the chain. Just four months later, RCI reported the down 20% SSS quarter that started the brand's downfall. 
• After this publication, additional questionable dealings between CEO Eric Langan and Tannos Construction were uncovered and disclosed on Seeking Alpha
• We still have yet to hear if the Cash Flow Kingdom will be reimbursing its subscribers for losses suffered when it reiterated complete confidence in the stock and management, and advocated using the short report as a buying opportunity (shares were still at $30 post publication).

Here is the report: RCI Hospitality (RICK): Overvalued Roll Up with Hidden Related PartyTransactions, Conflicts of Interest, SEC Violations, and 50%+ Downside