Syncora Holdings Ltd. (fka SYCRF)

[Banjo50]

All good things must come to an end I guess, but I sometimes wish they had stayed in business instead of liquidating.

[alzhus]

Congrats to all, especially to the old-timers who stuck with Syncora for many, many years!!!
So sorry I wasn’t able to post for a few years. Was overseas for a while, but read the board and held my Syncora shares till the very end.
What an AMAZING, AMAZING experience it’s been!!! It’s hard to find the words to describe it, a dream come true. Feeling so incredibly grateful!!
Many, many thanks to oldhamtrader, rockraider, RickNagra, and all the other posters who did so much work, and helped me keep the faith and stay the course.
Guys, you are the BEST!!! You found an amazing investment opportunity and did everything right!
Maybe we can stay in touch about future investments.
Hope you enjoy the fruit of your amazing Syncora investment! Thanks again for being here, and may God bless you all!

[rockraider3]

Congrats for those of you who stuck in this to the end. Hope you all made a lot of money.

[oldhamtrader]

.037 per share.

[BMWRider70]

My claim is still there, ticker is gone but no money in my bank account yet. Maybe because my bank is not US based but in Europe and takes longer? What is the $value per share that I should receive?

[oldhamtrader]

Yeah, it was one of my biggest wins. Was in it for about 15 years. Hung with it through all it's ups and downs, there were a bunch...luckily it ended on an up!
Good luck with your future endeavors.

[Banjo50]

Shares are gone. Claim is deleted. Money is in my account. It is finally over. I sure made alot of money on this one.

[oldhamtrader]

That is the final payment. Company is liquidated.
Might take a day or two for funds to clear. Mine was deposited yesterday and funds were available to me today with Fidelity.

[BMWRider70]

Mine have been discharged from my portfolio and converted into a 'loss' of 0.037 per share. I thought it was going to be a dividend to be received of 0.037 not a liability to be paid :-/

[BMWRider70]

What does it mean?

[Banjo50]

My SYCRF shares have been converted to a claim.

[oldhamtrader]

SYCRF announced a cash dividend of 0.037 with an ex-date of Jan. 24, 2023
Final distribution is in our accounts this morning. Ticker is gone.

[oldhamtrader]

Thank you for the info! Will be interesting to see what the final payout will be.

[Renee]

SYCRF: Effective Jan. 24,2023: Liquidation/Final Distribution **No FINRA notes on the liquidation and/or final distribution.

FINRA will delete the symbol.

https://otce.finra.org/otce/dailyList?viewType=Deletions

[oldhamtrader]

Someone probably just needed some gas money.

[Banjo50]

Volume over 69000 shares. Is the end near?

[Banjo50]

Volume over 69000 shares. Is the end near?

[Banjo50]

What ever happened to Wow1234? Did he implode with his SRNE buys? Gone but not forgotten.

[oldhamtrader]

The voting that I saw was for appointing lawyers to liquidate, not on the how to distribute funds. More than likely, the attorneys being elected will need to rack up a bunch of billable hours before it closes. I suspect we will be well into next year before anything happens.

[Banjo50]

You may be right but, I suspect that everything is in place and only a positive vote is needed for the final payment to be issued. I think that everyone wants this off their books before the year is over.

[oldhamtrader]

That would be nice, but highly doubt it. I always expect a long wait any time attorneys are involved.

[Banjo50]

The meeting is scheduled for December 7. I expect this to close before the end of the year.

[oldhamtrader]

Yes, hoping we are coming close to the end.

[Banjo50]

I received notice of special meeting vote for final liquidation. Did anyone else get the notice?

[RickNagra]

We need more volume. We need some good whales to slap the ASK in large copious ludicrous enormous gigantic amounts.

[RickNagra]

Looking forward to seeing some more volume.

[RickNagra]

Volume was not very good today. Maybe tomorrow it will improve.

[oldhamtrader]

Not sure what you are referring to about my reasoning being wrong. This email from Scott Beinhacker might help you understand my, and apparently his timeline for total liquidation:

We sold our interest in Crown Global in October 2021 and issued a press release. We still have an interest in Swap Financial Group. The litigation is still active, and I can’t comment beyond what is in the public court filings. We will have a better sense of the liquidation timeline once the litigation is resolved.

[RickNagra]

Okay. I suspect that your reasoning is wrong. But it remains to be seen.

[oldhamtrader]

I don't think so. Believe it is against our subsidiary Swap Financial but cannot remember for sure. Like I said earlier, contact Scott in IR if anyone if really interested in knowing about it.

[Banjo50]

Are you refering to Principia Partners LLC vs. Syncora?

[oldhamtrader]

Syncora is defendant. Cannot find link to the court case. IR will probably let you know details of the case if you are interested.

[oldhamtrader]

Syncora is defendant. Cannot find link to the court case. IR will probably let you know details of the case if you are interested.

[Marshster]

Are they the plaintiff or defendant? Is there a link to info?

[oldhamtrader]

They are involved in a lawsuit. Liquidation should happen shortly after it gets settled...whenever that happens.

[Banjo50]

What is the possibility that the liquidation is completed in 2022? Opinions? Best guess? Worst guess? Any guess?

[Andecker]

WOW - where are you? Still monitoring things here?

Do you still own SRNE?
What can you tell me about it if so?
Share what you can. Thx.

I am still in. BIO has been bloodied much worse over the last year than the market in general. I did n't sell anything.

I look forward to anything you could share / any insight you can offer.
Thx~~

[BottomBounce]

IS THIS STOCK A SCAM OR WHAT??? $SYCRF

[oldhamtrader]

I would like to know how much we received for the Detroit property. I thought it was 13.9 million but after re-reading the press release, I see it was not disclosed. Why?
http://scafg.gcs-web.com/news-releases/news-release-details/shl-holdings-ltd-announces-sale-its-real-estate-related-assets

[Enterprising Investor]

Liquidation Basis Statement of Net Assets (3/31/22)

Net Assets per share is about $.0747.

http://scafg.gcs-web.com/static-files/d68c16ac-ce71-4a4b-9dbb-470498423912

[Banjo50]

Does anyone think they can squeeze another 5 cents per share out of Syncora? Opinions anybody?

[Banjo50]

So when does this come to an end? What's more important, when does the tax bill come due?

[Banjo50]

Thanks for the information. I was just curious about the past members here that I don't see posting anymore.

[oldhamtrader]

Not sure about Hosedragger but Denny cashed out after the sale of the core business.

[Banjo50]

Whatever happened to Hosedragger and DennyCrane?

[oldhamtrader]

They didn't mention still owning it, but I had heard a good while back from a reliable source that it was part of the equity funding company we still own.

[Marshster]

THANKS. DO THEY STILL OWN A PICE OF CREDIT SESAME?

[oldhamtrader]

I listened to the call. They said the Equity Funding business is the only thing left to liquidate. There is a lawsuit involved with it that needs to be resolved but it is being worked on. There was not really a definitive answer to a question asked as to a timeline for total liquidation other that it is being worked on.

[Marshster]

Did anyone attend the annual meeting on 3/29?

Was there any information shared?

The 12/31/21 liquidation basis statement was poster and showed an increase of $794K in net assets in liquidation from the 9/30/21 statement

[oldhamtrader]

Does anyone have a link to the conference call today? Apparently, directions for joining were in proxy voting materials. I must have voted and then deleted so don't have. Call is at 11:00.