For the shares to be worth less than $4, that implies that the loan portfolio is worth something like 25 cents on the dollar. I find that really hard to believe given the increasing values of land underlying the loans.
I believe that all the financials are done and could be filed but that there is another strategic game going on between the SEC/FBI and UDF with respect to settlement or charges.
Hopefully, they get all this resolved soon and we can all move on.
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