Syncora Holdings Ltd. (fka SYCRF)

[irishintelligence]

"I would like to direct you to Slide 26 in the financial highlights deck for a description of the pro forma statutory basis financial effect of the merger. We have discussed previously our efforts to utilize a significant amount of net operating losses or NOLs held by Syncora. As we see positive events for the company on the horizon that will reduce our overall risk and potentially enable us to gain approval for additional payments to our stakeholders we continue to evaluate possible new business activities that would generate income that would enable Syncora to utilize the NOLs.

In connection with any new business effort it is expected that we will look to work with our current stakeholders and others to provide or raise capital that can be deployed and any such effort. As the section 382 ownership shift incurred in connection with the August 2016 restructuring transaction does not reset until August 2019 as compared to amounts that could potentially be raised after the 2019 reset date Syncora will not be able to raise a meaningful amount of equity for a new business until that time."

https://seekingalpha.com/article/4124620-syncora-holdings-sycrf-ceo-frederick-hnat-q3-2017-results-earnings-call-transcript?part=single