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"I believe" we still have about .16 in cash + still have our equity funding business (funding startup companies for an equity stake). I don't believe we have the EF business valued at much on the books. At one time, I had heard we had funded a business, Credit Sesame, that had done pretty well so might have some value there but not sure. I saw one of their commercials during prime time.
Those are the only things left that I am aware of.
Any value still here? What's left to sell?
Hi Syncora Peeps,
Just double check - divi was $0.1600/share
Last Declared Pay Date
Mar 15, 2022
Just wanted to confirm....have not checked account yet.
Cheers!
Finally paid. E-trade never fails to disappoint.
Still no deposit in my E-trade account. They are always slow and sloppy when it comes to dividends.
Thanks for the heads up. E-trade is always late posting dividend payments. I will be watching for my deposit.
Got mine in Fidelity. Showed up in "activity and orders" a day before it showed in my account balance as cash.
Reminder in case you have not seen...shareholder meeting and conference call next Friday. Hopefully they will give us a timeline when the company will be completely liquidated.
Did anyone get their dividend payment? Nothing in either my E-trade account or TD Ameritrade.
Guess who invested heavily in SRNE also!?
Moi!
Pathetic! I've lost 5+ years of use of this $$, the opportunity cost is staggering.
I would never have imagined they could not connect with at least 1 EUA with FDA as they spent billions on anything that moved - except for SRNE.
Keeps falling daily. Not good.
Any advice Mr. Banjo?? I think I am screwed. Hugely!
WOW is busy with his personal bankruptcy after investing his life savings in SRNE. Sad, very sad.
WOW - Where have you been?
Sorry Snycora board but wanted to ask WOW about SRNE and VCEL.
Wow, I know you dumped your VCEL - very VERY smart of you as I did not.
Think it will eventually recover?
More importantly - SRNE
Are you still in this stock? Holding all your shares or did you sell off as it slide to $3 buck chuck where it sits today.
I am very worried that this company does NOT have ability to get anything across finish line.
Do you still own it? What is your short and near term assessment of its potential if any?
Yes, current share value is mainly due to cash. I believe they also still have the venture capital biz, Swap Financial, but not sure. I had heard that Credit Sesame was one of the startups that we funded. I think Swap is the final asset that needs to be sold.
Any value left after the $.16 distribution on the sale of the Detroit assets?
Hmmm, not much there. Hopefully our NOLs and real estate has more value : )!
SHL Holdings Ltd. Liquidation Basis Statement of Net Assets and Changes in Net Assets as of September 30, 2021 (11/15/21)
http://scafg.gcs-web.com/static-files/8242e852-4d32-4bca-80ff-ab07a6d590bc
Was the Detroit real property option exercised by the Dec 10 deadline?
Distribution just hit my account.
I still have not received the distribution. Scott Beinhacker in IR said the delay is with FINRA and the DTC. They have all the necessary information. I have not been able to talk to either of those but plan to. Will post what I find out.
Has anyone received the dividend scheduled for Nov 15?
WOW - Where have you been?
When do you feel SRNE will run?
Will it ever?
Signed, Concerned
SHL Holdings Ltd. Announces Sale of Equity Investment and Subsequent Distribution (10/13/21)
HAMILTON, Bermuda, Oct. 13, 2021 (GLOBE NEWSWIRE) -- SHL Holdings Ltd. (“Company”) announced that it has successfully monetized its equity interest in Crown Global at an amount approximating its carrying value on the Company’s most recent liquidation basis financial statements. In addition, the Company also announced that a distribution of approximately $2.6 million or $0.03 per share, including the net proceeds, will be made to shareholders of record as of November 1, 2021. The distribution will be made on November 15, 2021.
About SHL Holdings Ltd.
SHL Holdings Ltd. (OTC: SYCRF) is a Bermuda-domiciled holding company. For additional information, please visit www.shlholdings.com.
https://www.globenewswire.com/news-release/2021/10/13/2313854/0/en/SHL-Holdings-Ltd-Announces-Sale-of-Equity-Investment-and-Subsequent-Distribution.html
I am NO tax expert but since our payout last year will not be realized on our taxes until we close out our position (liquidation final or an individual sells) - do we have to worry about what Mr. Biden is up to?
If this farce gets passed - long term capital gains go up 27%?!
I guess I should have sold my remaining xx,000 shares at 30 cents! Snooze you loose as they say.
I explained this to a friend who just retried as he told me, "...you can afford it." The balls of some people thinking this as I drive around a 2009 Traiblazer.
Odd that senators are voting for it / against it hen they haven't read the bill yet!?
@@@@@@@@@
October 4, 2021
Erica York
Twitter Logo
Under the House Build Back Better Act (BBBA), the United States would tax capital gains at the third-highest top marginal rate among rich nations, averaging nearly 37 percent.
In the U.S., long-term gains currently face a top marginal tax rate of 23.8 percent at the federal level, the result of a maximum 20 percent capital gains tax rate plus a 3.8 percent net investment income tax. The House Build Back Better Act proposal would raise the top rate to 28.8 percent, and on top of that, apply a new 3 percent tax on income of top earners, including capital gains. The resulting 31.8 percent top marginal tax rate would be the highest federal tax rate on capital gains since the 1970s—and above the generally estimated revenue-maximizing rate of 28 percent.
When including state-level policies, the average top marginal combined tax rate on capital gains in the U.S. would rise to 37 percent, up from 29 percent under current law.
SHL Holdings Ltd. Addresses Recent Stock Trading and Price Activity (10/08/21)
HAMILTON, Bermuda, Oct. 08, 2021 (GLOBE NEWSWIRE) -- SHL Holdings Ltd. (“SHL” or the “Company”) today addressed recent inquiries from shareholders regarding its stock price movement and trading activity.
On September 28, 2021, an amendment to Rule 15c2-11 under the Securities Exchange Act of 1934, as amended, became effective. The amendment requires companies listed on the OTC Pink Market to provide current public financial information, which includes certain financial statements, in order to be quoted. As part of SHL’s approved Plan of Liquidation, the Company prepares a Statement of Net Assets and Changes in Net Assets on a liquidation basis, in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). These liquidation basis financial statements do not meet the requirements of the amended Rule 15c2-11 and OTC guidelines to maintain the Company’s current status on the OTC Pink Market. As a result, trading of SHL’s shares have been moved to the OTC Expert Market and no public stock quotes are being provided.
The Company will continue to prepare its financial statements in accordance with US GAAP and post on a quarterly basis to its website www.shlholdings.com under the Investor Relations tab.
https://www.globenewswire.com/news-release/2021/10/08/2311421/0/en/SHL-Holdings-Ltd-Addresses-Recent-Stock-Trading-and-Price-Activity.html
OTC markets used to put a stop sign on a stock when financials were not current. I guess they changed that to "dark and defunct" now. It is just their way to warn investors that trading in a stock not current is extremely risky.
https://www.otcmarkets.com/stock/SYCRF/overview
My best guess at this time is Syncora has a possible return of capital first quarter of 2022 for tax reasons???
"I am in the same situation , been lucky. I saw volumes yesterday, saw something must have changed, waiting for the final liquidation, hope it happens soon..."
I am in the same situation , been lucky. I saw volumes yesterday, saw something must have changed, waiting for the final liquidation, hope it happens soon...
Dumb question but, what exactly is a stop sign? I saw volumes yesterday, saw something must have changed? I am an historical shareholder, waiting for a final liquidation, hope it happens soon...
Big change in one day! I still have most of my shares from years ago due to having faith they would resolve everything in the shareholders interest. I hope all the "oldhands" prospered with the $4.76 a share "return of capital" last year.
"Thanks for the info, oldhamtrader! Hopefully we can get in the .20 range per share. Last I checked back during the buyout, properties seem to be worth somewhere in that range."
Thanks for the info, oldhamtrader! Hopefully we can get in the .20 range per share. Last I checked back during the buyout, properties seem to be worth somewhere in that range.
I expect to see it sitting at .0001 very soon. However, it doesn’t matter to existing shareholders who will be paid from the final liquidation. Just sucks for anyone wanting in
OTC just began a new rule(I believe on 9/29) that any stocks with a stop sign do not have a market made on them...no bid/ask. Syncora has a stop sign. I knew the rule was coming and called Scott B in IR to ask if the stop sign would be removed by the deadline. He said financials are current but OTC Markets could not understand Syncora is liquidating He had been in communication with them to try to get it resolved before the deadline but apparently that didn't happen.
Anyone putting in a market order is just asking to have their money stolen.
At this point it is best to just wait for the final closeout. The good news is Scott said they had made significant progress in the past couple months in the liquidation prcess.
https://www.otcmarkets.com/stock/SYCRF/disclosure
They were Pink Current. Not sure why they were sent to the Expert Market?
Either way…..most brokers won’t allow buy orders…..only sell orders. Hard to find a MM to match up the trade.
Canada may still be able to buy along with Interactive Brokerage.
This who have shares will be sitting and waiting for the company to fully dissolve while anyone wanting shares is now locked out. May explain that 1 million share transaction a few weeks ago by someone in the know of what was coming.
Is this tock halted or not trading? I have had a market order in for 2 days and nothing has happened. Can anyone enlighten me?
Why were they sent to EM? I thought they were pink current.
Filings seem up to date
Sounds like a good opportunity for a market maker to steal your shares. Do you think it would go through for a nickel or less?
I talked to Scott B last week. Said they had made significant progress in the past couple months in regard to closing everything out. I actually called about whether the stop sign would be removed before new OTC rules took effect. He said he was working on it. I now see he was not successful as we are no longer trading.
I'm not sure what I think about Syncora right now. It's true the NOLs go to 2029, I believe. But cash burn rate seems to be a little over $1MM per quarter. I'm just getting that by looking at the Liquidation Balance Sheets since last FYE. With $17.6MM in cash left, seems like the runway is through end of next year (assuming no other cost reductions in the mean time).
Or maybe they can monetize some remaining asset to buy some additional time.
But I do think they are running out of time.
Disclosure: No position in Syncora.
WOW - where have you been?
Sorry Syncora board but would like to ask WOW for advice on different stock...
RE: SRNE - what is your insight on current price?
Will they EVER get anything across the finish line?
In 15 yrs, they've got nothing.
Are you holding, buying more?
I feel their COVID is big swing and miss. This cost them time and money - opportunity cost as they moved other products to back burner while again, nothing crosses finish line to set up rev. stream.
No news on ANP purchase, Brazil trials, DARPA, how many units sold in Mexico, official update on lawsuit, etc. We do have a lot of cool TMs now!
I've been in since 2016. I have a huge opportunity cost here also but I've been here too long to give up now and I do know they have quite a pipeline!
So - when do you think things will begin to happen?
By EOY? When do you think we will be over $50? 2025?
I am getting very anxious which is not good for investing.
Thank for any input - Andecker
Hello Low,
What are your suspicions?
Are you adding or selling or maintaining?
Cheers, Andecker
1.1 million share trade at 20 cents…..hmmm
Hi Wow,
Thx for the response.
I, sadly, did not get out of VCEL.
You timed it perfectly getting out at 65.
Looks like I am in for a while as it dumped to $52. Doh!
I am still big in to SRNE. Really big as i've lowered avg. cost when it went sub-$2 three times since initial buy in 2016 when I also VCEL.
I am so disappointed SRNE can't retain its traction when a positive PR comes out.
Also very bad that they never communicate with its shareholders. Bad couple of weeks.
Do you still have your SRNE?
Rumblings are $100 by EOY.
Any chance of this IYO? I doubt it as it needs an approved product (AKA = Revenue!).
They are batting ZERO in 15 yrs of existence.
Any insight with SRNE WOW?
Please send if so. I need a boost.
Cheers, Andecker!
I SOLD ALL MY OF VCEL
AT 65 AND BOUGHT NKLA
AROUND 12 I DO THINK VCEL
IS STILL GREAT STOCK BUT
I DO BELIEVE NIO AND SRNE
ARE GREAT COMPANY SRNE HAS MUCH
MORE UP SIDE THAN NIO. NIO WILL BE HUGE
IN FEWS YRS AT LEAST $300 PER SHRS
Hey WOW - Where have you been?
Still watching this board?
Question - what are your thought on Sorrento? (sorry board - yrs ago WOW mentioned this stock and after some DD - jumped in to it - heavily).
What are your thoughts on it? When will a product - anything! come to fruition?
So much in pipeline and nothing gets through? Why is this IYO? Be patient or did you sell at last peak?
Any input would be appreciated. Any thoughts on where s/p will be by EOY?
I am still holding my VCEL - it's done well even though it's still off its recent earlier in 2021.
Look forward to your input?!
Cheers!
Thanks everyone. Good to be back.
I am here because of my investment in FECOF which has life again.
Honestly I am out of Syncora and moved to 100% cryptocurrency.
My holdings include:
OCP
ONE
VIPER
BTC
CAKE
LINK
Thank you Irish for setting us straight on the NOLs. I also want to thank you for inviting me to Investors Hub MANY years ago. You brought several of us Syncora old timers over here from the Yahoo board in 2010 if my memory is correct. It appears to me Syncora could still be a rewarding stock to own as they slowly wind things down or decide to rotate into another type of business and rebuild. Thanks again and have a great week.
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Syncora Holdings Ltd
The remaining remaining assets of Syncora Holdings Ltd (In Liquidation) consists of cash and other liquid assets as well as its interest in Swap Financial Group, LLC, its interest in Crown Global Insurance Group, LLC, real property and an option on real property in Detroit, Michigan, and a certificate that can be presented to the City of Detroit for value when purchasing certain city-owned property in Detroit, Michigan (the “Retained Assets”).
Syncora is currently involved in disputes related to certain of these assets, which may not be resolved favorably or at all, and which may have a negative impact on the value of these assets.
The real property option includes certain requirements; including that the real property option be exercised before December 10, 2021 and that construction begin on such property within 15 months of exercising the option (3/10/23). In addition, the real property interest owned by the Company requires that construction begin on such property within 15 months of December 10, 2019, the date when the Company took ownership or 3/10/21. This condition may make this real property option and this real property less marketable and less valuable, and subjects them to the risk of repossession by the City of Detroit. As a result, the Company may not realize fair market value, or any value, on some or any of these Retained Assets, which could result in a limited or no Subsequent Distribution.
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