Looks like we got screwed as per the latest status report.

Totally disappointed that even the earnout was in a loss, so we are getting nothing from that.

Oh well, let's see how the trustee responds.

https://cases.ra.kroll.com/jcpenney/Home-DownloadPDF?id1=MjQ0ODQ4OQ==&id2=-1

Same here. If nothing happens by12/31/2022 then it's almost hopes lost.

My last consideration is the FDIC closing the receivership.

Correct, it doesn't guarantee anything yet.

We hope they take their fiduciary duty as trustees seriously and negotiate a recovery since the COTRP was asset-backed.

Even if we get like 20 cents on a dollar, that would be a substantial recovery at this point. They've missed and defaulted 3 years of dividends and they are yet to payout on the profit sharing or on the sale of the assets and nothing yet on the operating company.

The JCP Credit Card business should be sufficient on its own for some decent recovery.

GLTA.

Claims cleanup is coming to a close. Hopefully, the trustee is negotiating a decent recovery.

By the same logic, none of the 140 hedge funds and employees have claimed that nothing is coming back.

The reason I still have very little hope left is that the TPS Group should have at least filed something if they believed they were getting shafted and getting nothing for their securities. Why would the underwriters fight in court to not be in class 22? If they knew nothing was coming back, why fight in court?

GLTY and Everyone. Until the Receivership is closed, there's always a slight hope of recovery.

Bob,

It doesn't matter how many shares you have to determine your say in the 1% charade from Ms. Griffin.

There's what we term, Time Value of Money. You want me to believe that 1% is a do-or-die affair when capital gains taxes are going up and I could have invested the money in a Blue Chip Dividend-paying stock.

I'm all for justice and fairness but her actions are now selfish and callous.

You don't tell people that the delay for 1% additional is equivalent to 99% recovery of their investments.

The actions she's pushing do not serve any purpose at this point except her selfish interests.

GLTA.

Sorry Bob, I totally disagree with you on this issue of 1% was stolen.

We are talking about time value of money here. Midwestern sense and good old common sense should apply.

Instead of $1000, I recover $990 but you think we should keep waiting for years because some lady is trying to get me $10 back. That's some BS.

I could have put my money in a GIC and made the 1% back.

Let not make the perfect the enemy of the good. Just the proposed increase in taxes has already taken the 1% away.

Am not going to co-sign such nonsense and selfishness from Ms Griffin.

Yes, they already have a blocking position.

Hedge funds did the same thing in the WAMU BK case. They bought the debt just for voting purposes to ensure the senior creditors got all their money plus interest.

I saw that also about the "earnout". Will be looking for the final details of the deal in the coming weeks.

GLTA.

"Concerns about the market test are further amplified by the Debtors’ use of the $3 million due diligence fee approved by this Court. The Debtors have argued that the fee was absolutely necessary for the Debtors to help generate interest in their assets due to the distressed retail market reeling from the effects of the Covid-19 pandemic. As a result, the Debtors explain that their professionals reached out to over one hundred (100) different parties to kick the tires. Yet somehow, the entire $3 million was paid to a single potential bidder. The AHEC submits that this does not constitute sufficient evidence to support a finding that the Debtors have passed the business judgment test. The reality is that these Transactions are so intertwined and air-tight, that no other bidder could possibly insert themselves into the place of these cherry-picked OpCo
Purchasers and PropCo Purchasers. Accordingly, the Court should deny the Sale Motion to prevent these parties from hijacking the chapter 11 process."

Paragraph 54

Do you have the ticker symbol or Cusip number? Just want to pick up a couple as a hedge.

Agreed. The polls are transparent that people are not going to take the vaccines, and the preference would be therapeutics.

Therapeutics would be more acceptable for worldwide implementation and easier adoption without social unrest. Today in Germany, more than a million people protested the draconian stay at home measures and restrictions.

It would be a great day the president walks out to the east lawn to announce that a therapeutic with addition to an antiviral is good to go.

The trillions of dollar economies worldwide are at stake.

A pediatric arm would be excellent but might not be necessary if there are no known or little toxicity or side effects. If their medication has been prescribed to pregnant women previously, then safety can be mostly assured.

Worst case, they provide a pediatric dose based on age and weight.

GLTA.

Excellent Summary!!!

You are correct. They actually tested to the lowest possible dose and also found that there was no cytotoxicity to the lung cell lines.

With 75% virological effectiveness and no toxicity and previous phase 2 human trial results.

IMO, we might just get to skip to phase 3 and/or straight to EUA.

GLTA.

Agreed. Toenail fungus is a huge market and especially if they can make it prescription and over the counter versions.

Hi,

While you wait for B, try this and see if it helps looks quite interesting.

Amino acids

Leo doesn't have to sell it all.

For example, He can sell 50% interest in B to for example Pfizer for $1B and sign an exclusivity agreement with them that if successful trials are completed for CV and as new generation antibiotics for another final $9B in payments.

IMO, I say get it to market as soon as possible with a partnership that already has the depth to get the product through the FDA and testing.

Then take the payments and proceed with K for cancer. That's another billion-dollar opportunity untapped.

Not just sitting across the table only. They would have requested to see the data from RBLs and the results.

You don't invest $6Million in a pinksheet stock without thorough due diligence.

GLTA.

Thalidomide case is why medications are tested in pregnant dogs and cats or monkeys to see if there is a contraindication for people planning to get pregnant or pregnant during the intake of the medication.

Also, the pharmacokinetics are important and not just measuring cell toxicity.

I agree they should focus on getting B to the market and generating cash flow and maybe revive P or move K to phase 3.

Yes, It's interesting because the last PR stated Pan-Coronavirus applications.

I've been quietly learning and lurking, just had to post today.

That's also why am here.

Antibiotic resistance is definitely a concern and the need is unmet.

This is an opportunity of a lifetime if the clinical trials and grants pan out.

insert-text-here


Moderna Trial Suspended. The focus should be therapeutics.

Agreed - Using $6M to fight a $3M doesn't make any sense either.

It's ridiculous at this point and the court should shutdown her claims.

That doesn't make any sense.

There's the time value of money. We shouldn't delay the process and create a chaotic system because of a loss of 100 Ps.

Instead of receiving $10,000,000, they get $9,900,000. Holding up the process for such a minuscule amount is ridiculous.

At this point, AG is not working in the interest of shareholders.

We've always disagreed on so many issues but on this post I totally agree.

JPIG and FDIC should never have received any of the tax refunds.

The tax sharing agreement was fraudulent at best.

AZ that's a very wrong interpretation and conclusion.

The reorganized debtor is WMIH which is now COOP.

WMILT cannot under any circumstances be regarded or called the reorganized debtor.

GLTY.

Large dose vitamin C would be helpful.

GLTY.

Yeah I see you guys are patting each other in the back.

Differing opinions supported by court filed documents tells more truth than conjecture and unsupported conclusions.

The idea that the NOL was gone has been found to be wrong and not supported but swept under the rug.

The idea that common equity owns the estate is also not supported by POR 7 but this claim persists. The documents clearly states 75/25% all the way.

MW got a sweet deal for commons. TPS - 30%, PQ - 30%, KQ - 5% & UQ - 25%.

Here's a simple challenge provide the documentation proof that UQ gets the entire estate.

Commons can get everything left if preferred gets face value plus back dividends. Am totally good to go but that is not supported because immediately the shares were cancelled in POR 7 the dividends contracts were also extinguished.

Nobody is hating on common shares holders, so don't go that defense route.

GLTY TPS, PQ, KQ & UQ.

PS: No need to divide and conquer.

Thanks hotmeat.

I've been digging through docs. Do you have any idea why what services Wells Fargo bank is performing to get paid $10,000 per quarter?

Just thinking out loud.

Would it be possible or there's a mechanism to have an ASSET to EQUITY swap between WMILT and WMIHC?

I find it intriguing that WMIH authorized 3.5 Billion common shares.

Read through the back and forth from the morning and agree with you that there's no direct language stating that WMIH gets the value from the debtors assets (Maybe stock of value***).

The LT has priority and are the only party to the recoveries.

GLTY and thanks for holding your ground.

You mean page 160*

Take it easy.

There's an audit committee with Willingham and Doreen Logan keeping eyes on things.

His not unfettered.

GLTY.

Dude calm the F down. The FDIC clearly stated that the paid *INTERIM* dividends.

They did not state anywhere that they have made *FINAL* payments. We are only talking about current assets only at this time.

They have a claim against JPIG still open and the receivership is still ongoing.

Hold your unicorn till the receivership is closed and WMILT closes shop.

Dude chill.