FC conspiracists cite the Year 2015 income tax return, primarily and SEC reporting requirements, secondarily as TIME-sensitive deadlines.........................FC's 2015 TR, as extended (ahem!!!) is due 10/15/2016..................certainly, payments for the BHC/DTA hope purchased could be made into an escrow, or simply placed with the UWBI BK TRUSTEES (plural)..................
so, IF......IF.............hope did in fact purchase the FAILED BANK's bhc........................gotta settle the accounts...........someday..................pay off the BK priority claimants so that the uwbi security shareholders get a distribution in the form of cash, stock or other considerations..........
THE END IS NEAR.............................one way or the other......might be better to push any windfall into year 2017 if not a stock conversion........frankie COULD be paying $128.7mm ($38.7mm in cash to claimants and $90mm in stock to uwbi shemales) for a $176mm DTA........$44mm +/- premium........and the $90mm in FCNCA stock comes from the FC treasury stock account which has a basis of like $50 p/s........(valued at $250 p/s in payment to uwbi)........details are in the devil.......point being, frankie was forced into the uwbi/uwb settlement and still benefits to the tune of $75mm, imo.............un--MF/ing--believable..........
but again...........assuming FRANK BANK, 3 per conversion..........announced on or about 10/14/16.........conversion/payout date of 12/14/16.............wasn't that FUN...........??????..........
