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~ ADDED: Point being ?, WMI' Protected Itself ~
Just remember to keep things separated and segregated into' their proper form' ...
Washington Mutual Inc., to the Reorganized and now Reincorporated, ... WMIH-Corp' ... along with the reported, ... "Retained Earnings" ... ? ...
do not include or consider';
The WMB Noteholder Program' ...
The Preferred Offering' ...
Commercial Capital Bancorp' ...
The GSA's Settling of Filing # 5885' ...
etc, etc, etc, ...
Oh Yeah, and a Very Merry Christmas Everyone'
AZ
~ Merry Christmas Everyone', WMIH-Corp IS' "The Tell" ~
Washington Mutual Inc., Filed 02/29/2008
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007
https://www.sec.gov/Archives/edgar/data/933136/000104746908002083/a2182890z10-k.htm
This 02/29/2008 document, as it refers to, "Retained Earnings"
Retained Earnings as of 12/31/2007 = $18,921,000,000.00
... (plus' ? don't miss this next part' ... $18,921,000,000.00 - $2,220,000,000.00, ... right' ?) ...
"The Company's retained earnings at December 31, 2007 included a pre-1988 thrift bad debt reserve for tax purposes of $2.22 billion for which no federal income taxes have been provided".
Monthly Operating Report for Debtor in Possession for the Period February 1, 2012 Through February 29, 2012, ... ("this would be the last MOR', able to be filed ahead of Plan 7's Implementation Date on 03/19/2012")
Docket # 10004 Filed 03/30/2012
http://www.kccllc.net/wamu/document/0812229120330000000000007
This 02/29/2012 document, as it refers to, "Retained Earnings"
Retained Earnings, pre-petition as of 09/26/2008 = $16,739,175,191.00
Retained Earnings, pre-petition as of 02/29/2012 = $20,770,648,942.00
Retained Earnings, post-petition as of 02/29/2012 = $1,043,405,792.00
====================================================================
turn the page' ...
Washington Mutual, Inc., utilized securitization process' ...
Loans securitized(3) 6,147 (this is the number' of loans, not their value)
* 3; Represents the interests retained by the Company which are included as an adjustment in this table as they have been recognized separately in the Consolidated Statements of Financial Condition
Certain securities that are sold in exchange for cash are subject to an obligation to repurchase the same or similar securities ("repurchase agreements"). Under these arrangements, we transfer the securities but still retain effective control through an agreement that both entitles and obligates us to repurchase them. As a result, repurchase agreements are accounted for as collateralized financing arrangements. The repurchase obligations are reflected as a liability in the Consolidated Statements of Financial Condition while the securities remain in the respective asset accounts.
====================================================================
turn the page' ...
WMI Holdings Corp Filed 03/15/2013 (First "K" Annual Report)
ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2012
https://www.sec.gov/Archives/edgar/data/933136/000119312513110149/d445890d10k.htm
"Following emergence from Chapter 11, we adopted fresh start reporting in accordance with ASC 852 (Reorganizations), pursuant to which the reorganization value of the entity was assigned to the entity’s assets and liabilities in conformity with the procedures specified by ASC 805 (Business Combinations), which requires that the entity measure the identifiable assets and liabilities at their acquisition-date fair values. Adopting fresh start reporting resulted in a new reporting entity with no beginning retained earnings or deficit. In addition to the adoption of fresh start reporting, our post-emergence consolidated financial statements reflect effects of the transactions contemplated by the Plan. Thus, our future balance sheets and results of operations may not be entirely comparable in certain respects to balance sheets and consolidated statements of operations data for periods prior to the adoption of fresh start reporting and prior to accounting for the effects of the reorganization. Our historical financial information may not be indicative of future financial information."
====================================================================
turn the page' ...
and ask ... ? ... Just what Are' ?, a company's "Retained Earnings" ?, ... and were' the company's, ... "Retained Earnings", ... Bankruptcy Remote ?, ...
Retained earnings refer to the percentage of net earnings not paid out as dividends, but retained by the company to be reinvested in its core business, or to pay debt. It is recorded under shareholders' equity on the balance sheet.
Retained Earnings
You can think of retained earnings as undistributed paper profits. Each year the firm declares a profit and does not distribute such profits, the retained earnings account grows. However, a positive balance in the retained earnings balance does not mean that the firm has a corresponding amount of cash on hand. Many growing firms have a great deal of retained earnings but little cash because all past gains have been invested back into the business. A firm also may lack cash because it has been unable to collect what it is owed. Firms forced into bankruptcy are often in that situation.
"Retained earnings are corporate profits not distributed to shareholders. ... If corporations file for bankruptcy, they use retained earnings to pay off their debts as part of the liquidation process. However, not all corporations are able to retain earnings."
~ ItsMyOption, Yes, I Agree As Well ~
... As you know, I dissect documents and sequence process' ... considering literally "everything", to the best of my ability' ...
... Back in Sept' of 2008, and then at Plan 7's Implementation 03/19/2012' ... I don't believe that our new Presidents ultimate election could have been predicted' ... however' ... In My Own Opinion ? ... I believe our Presidents actual election, played an important roll earlier this year when "Globic" and the D.C. "dual tracking litigation", came to completion' ...
... Corporations' ... are only required to report completed financials ... with the filing of an annual report a, "K" ...
So, In My Own View and Opinion ?, ... the newco, WMIH-Corp, has not been required to report or reveal any of the now released, ... "Retained Earnings" ... able to be accessed as of 06/30/2017' ...
But, ... it appears to me that, WMIH-Corp did use some of this money, as was revealed to us', back on 10/03/2017', ... to pay off the debt' and release the liens' ...
... The Taxes associated with these massive amounts of, "Retained Earnings", ... "Cash" ... Is A Big Deal' ...
Yes Again, I totally agree with you, as I currently have the news on, waiting for the Presidents Signature' ... completing This Tax Reform', and changing the rating structure beginning in Jan 2018'
AZ
~ Uncle Bo', Yes, WMIH-Corp IS', "The Tell" ~
... I am and have been 100% totally sure about what and how ?, for a very, very, long time now' ... yes, it's a bit' complex and complicated, but maybe I could simply explain by quoting Judge Collyer' ? ...
"Although this is complex litigation, the immediate issue is not so complicated once the parties and their relationships are understood"
turning the page' ...
Washington Mutual Inc., utilized what is referred to as a ... "Securitization Process" ... a process that generated ... "Retained Earnings" ... simplified ? WMI' utilized its Corporate Structure to package loans and place these loans into Cash Generating, ... "Trusts" ... WMI' (the parent corp), was able to financially benefit, with the generation of these, ... "Retained Earnings" ...
The SEC Reporting originally submitted by WMI', ... both ..., pre and post the seizure, and then of course' Right at Reorganization verifies the relevant,... "Retained Earnings" ... numbers' ...
now, stop for a moment' ...
and' simply consider just exactly what "Retained Earnings" truly are' ...
Retained earnings refer to the percentage of net earnings not paid out as dividends, but retained by the company to be reinvested in its core business, or to pay debt. It is recorded under shareholders' equity on the balance sheet.
~ RAJU, I’m Not Sure If I’m Following Your Question ~
However, ... If I understand what you are asking ? ... I have already posted the Class released, newco’ share received numbers ... roughly 186 million were issued and received, of the original 200 million shares of newco allocated for issue’ at the reorganization, ... without any initial consideration of some 30% of the uq’s that did not release or participate ...
So, ... do you believe that currently, present tense there are more ? or less ? shares of newco owned by the original releasing retailers, individuals ? ... (206,380,800 out) ...
I released everything and converted a lot at reorganization ... however, today some five plus years later ?, I now own six times that originally issued amount of newco’ shares’ ... Plus’ an absolute load of WMB Fixed Income’ bought post reorganization thanks to the D.C. dual track’ ...
... So, Who ? ... would be upset by that’ ... ? ...
(dilution is greatly affected, (% of ownership), ... the lower the number of participants)
... I’m also not providing WMIH-Corp, with a Credit Facility’, ... with an ... “Embedded Derivative Function” ... either’ ...
just sayin’
AZ
~ You Can Also Believe In WaMu’s Securitization Process ~
As well as the reported, ... process ?, and the ... “Retained Earnings” ...
AZ
~ Intuitive, and Those’ That Have Been Honestly Following ~
Yes, ... I totally agree with you, that ... we’ ... are currently very, very, close ...
AZ
~ Individual Loan Issues ? Are A Trustee’s Problem ~
Not, a WMIH-Corp or releasing WMI owners ... problem’ ?, ... or anything to do with A&M either’
AZ
~ Let Me Help’ Since You Are Getting The Wrong Answer ~
Start with, ... The Reference To ... “Retained Assets” ... is misleading’, which can very easily lead to additional confusion’ ...
The proper term and consideration would be, ... “Retained Earnings” ... or basically, ... “Cash” ... which was and continues to be generated by a process known as ... “securitization”, ... originally used by WMI’ ... and now that “Globic” is completed, ... will be a benefit to the reorganized WMI’ ... WMIH-Corp’ ...
AZ
~ I Am Actually In A Position To Engage Process’ On Any WaMu Level ~
However, ... what I won’t do ?, is entertain any non-documented, or any obvious presentations of misunderstood portions of this WaMu complex dual tracking legal process ... and’ ...
I won’t bother to waist precious time, responding to the majority of what I consider to be irrelevant to the actual process, and ultimate financial returns ... simply put ? ... any portrayal of emotion ?, regarding business or investments’ is Simply never a consideration, ... and I don’t or won’t argue’ regarding what I am sure of’ ... ever’ ...
I am involved in WaMu ? for a very serious return of investment on numerous levels’ ... WMIH-Corp, Released Class 19 and Class 22 Estate Ownership Markers, and Class 17’ WMB Debt, ... I maintain very large positions in all’ ...
while the legal process has continued post reorganization, ... I have attempted to help those that originally released and chose to remain’ ...
Again, ... The Original WMI’ Fundamentals Have Not Changed’ ... and those that Tranche 6’ Class Released as well as the reorganized WMI, ... WMIH-Corp, ... will benefit greatly ...
Forget about the LT, ... it only matters if you are listed as a class 18’ employee claimant ... and PIERS Class 16’ are irrelevant
AZ
~ The “Fundementals” Have Not Changed ~
As the ... WMI-LT (the meaningless’ propaganda machine), ... the numerous hedge funds, ... and the involved private equity’ ... continue to receive free typing’ help’ to attempt to’ discourage those that choose’ to remain’ ...
AZ
~ So, Which WMB Are You Guys Referring To ? ~
... I mean, at this point in time’ ?, ... Everyone knows there was more the One’ ... Right ?
Well, ... Here is a ol’ AZ, ... Golden Nugget’ ... from the Original Declaration of James Carreon (A&M) as Plan 6’ was attempting to be approved back in 2011’ ... (”enjoy reading this my friends”) ... Yeppers, the ol’ “Road King”, was never’ in any real’ danger’ ...
- quoted - (under the penalty of perjury) ...
”As of January 1, 1996, WMI had several direct subsidiaries including Washington Mutual Bank fsb (“WMBfsb”) and Washington Mutual Bank (“State Bank”). State Bank was a Washington State chartered stock savings bank, and I refer to it as “State Bank” because it is a different entity than the entity seized by the Office of Thrift Supervision (“OTS”) in September 2008.”
~ Yepper's, I Had The Same Thoughts' ~
That was sort of a part and parcel', of my thoughts leading to my reveal of the linked' "List of Non-Debtor Subs", with the "Inadvertently Omitted", language' place within the text' ... I still can't believe that it was actually "Admitted" to' ... ? ...
I also thought that the WMI-LT (propaganda machine), was going to once again, try and preempt the newco's (WMIH-Corp) conference call with one of its own (cya') releases' ... just like the time' before' ...
anyhew' ... I ain't going anywhere' ...
AZ
~ JJ, Yep' "Everyone" Waits Together ~
Institution and Individual - Alike' - All' wait ?, and will receive ?, at the exact very same time', ... WMIH-Corp Also', along with everyone else' ...
The gov' is obviously involved here' ... so if the new tax bill is passed for 2018's beginning ? ... then it benefits the gov' to distribute at least some of the safe harbor' prior to 2017 years end' ... so that everyone', would be required to pay more tax' ... (interest earnings are considered to be taxed as, "income")
However again, if the new tax bill is passed for 2018's beginning ? ... then it benefits all of the - investors' - to realize a distribution after 01/02/2018' ... everyone', institution and individual would be required to pay less tax' ...
Since ... We' ... are obviously NOT In Control' ... I guess ... We' ... will just have to All' wait and see what actually happens' at the exact very same time ...
I just wonder how much information was also' ... "Inadvertently Omitted" ... from the recent conference call' ... ? ...
AZ
~ Shamu, Yes An Interesting List For Sure ~
Thanks to all of you participating members, that have taken a moment to open up the link that I provided earlier ... this particular document was filed as an update to an original, ... “Kosturos Declaration” ... and was not originally labeled with a sequenced filing number’ ... or, ... a proper date’ ...
Turning the page’ ... and considering what is important to, Us’
In my opinion, ... when reviewing this list ?, ... I believe a simultaneous return to the Feb 29’ 2012 MOR (Filing # 10004, Filed On 03/30/2012) ... is important to consider and quite relevant as well, ... (the Feb 2012’ would be the last relevant financial disclosure and reveal’ filed just ahead of Plan 7’s 03/19/2012 Implementation Date) ...
Retained Earnings pre-petition @ 09/26/2008 = $16,739,175,191.00
Retained Earnings pre-petition @ 02/29/2012 = $20,770,848,942.00
an increase of some, $4,031,673,751.00 ... cash, generated by segregated subsidiaries between 09/26/2008 and 02/29/2012’ per the last required and necessary MOR needing to be submitted prior to Plan 7’s Implementation ...
Also note’ ... that there is an additional entry for, ...
Retained Earnings post-petition @ $1,043,405,792.00 ... dates only at 02/29/2012’ ... This entry reveals the “Liquidation Preference” ... Only’ ... for the Liquidation Preference financial consideration and specifically date structured consideration in between 9/26/2008 & 02/29/2012
AZ
~ I Don't Know What You Own "Either" ~
... I Only Know What I Own' ... and Why' I chose each segment of the available WaMu securities'
just sayin'
AZ
~ You Are Welcome and That's Fine', I Understand ~
I completely get the anxiety and the frustration that everyday innocent people caught up in this extremely complex, "multiple venue tracking" issue have been going through for a very, very, very, long time now' ...
However' ... NOTHING of the original WaMu values has ever disappeared' ...
only the lies ?, the nonsense financial models ?, the lies about the LT and what its legal parameter's actually are' ?, ... and, the daily attempts to discourage you ... have been obvious to me' ... I've done the work' and I can not be moved' ... most of the nonsense I actually find quite humorous'
warrants to be issued to you by the LT' was my favorite' however now ? I have a new favorite being presented by the very same conflicted one' ...
... "Kosturos has the power to release the FDIC from the WMI' claim against it" ...
So, Exactly What Claim is that ?, that is NOW' being bandied about ? ... I have never seen a WMI' Claim against the FDIC that has NOT been Settled by the GSA' ? ... let alone a WMI Claim Against the FDIC, that Kosturos could actually be able to forgive' ... my goodness'
AZ
~ Legally Held, Safe Harbor' Returns' ? ~
... Will Get Released For - Everyone - At The Exact Very Same Time ...
as the reorganized WMI', WMIH-Corps. portion ?, Releasing Institutional Investors portion ?, and, Releasing Individuals portion ?, ... ALL at the exact' very same time' ...
... In My Opinion ? the process will begin prior to a 2017 year end' ...
I believe, WMIH-Corp will be "The Tell", ... it should become very obvious, if the massive amount of "Cash" legally held, Safe Harbor returns have begun to be released' ...
AZ
~ The Original WMI' "Cash" Returns ? ~
... Now' able to become WMIH-Corps "Cash" Returns ? ...
Came in the form of Cash' from WaMu's multiple packaging and investment participations' ...
Anyone that actually owns a WMI Preferred Security' ? (a P' or a K' series ?), ... hopefully would have taken the time to read an associated WMI Preferred Offering Prospectus' ... WMI's Preferred Offerings (P's and K's) actually paid non-cumulative dividends, four times a year, ... always in arrears of the preceding quarter' ... ($0.0775% & $0.04% respectively')
An ABS-Cert ? or an, RMBS-Cert ? ... functioned in a different Prospectus Revealed manner' ... generally returning dividends on a monthly basis, between the 21st and the 25th day of the month' ... (generically' in the neighborhood of $0.045%, after paying the "servicing fees")
An Original WMB Bank Fixed Income Offering ? ... again, are designed to their own prospectus' ... (along with everything WaMu ?, I also own WMB Fixed Income Securities', but I doubt many other retail participants do' ... distressed debt' is generally a hedge fund play, I just paid attention to what they' were doing, and also jumped in to own some of that')
WMI's original Cash Raises' ? (Debt Offerings) ... also have their own promised rates of returns' ... The most prevalent to everyone would be Tranche 3' ... Commercial Capital Bancorp. ... yes WMI', paid itself back ...
~ Know What You Own ~
AZ
~ WMIH-Corp Will Now Be' The Recipient Of Exactly What WMI' Was ~
The Washington Mutual, Inc., "Cash" generated returns', cycled through their extensive list of subsidiary's, ... along with, ... Washington Mutual Investment Corp., ... Commercial Capital Bancorp., ... and the original, WMI Preferred Offering' ... etc, etc, etc, ... referred to as third parties in your submitted release document'
... Able to now start properly functioning again, now that Plan 7 has been completed (03/2012), and now that the D.C. Litigation has been completed (08/2016), and now that ALL of the Litigation requirements are finalized (the Globic' settlement completion (06/2017)
Washington Mutual, Inc.
Master Retention Checklist
http://www.kccllc.net/wamu/document/0812229081011000000000003
Washington Mutual, Inc.
Master Retention Checklist
... Non-Debtor Affiliates ... that are Directly associated with the Plan's Reported Retained Earnings' ...
AZ
~ Hey FWHZeke, Here’s An Early Christmas Present’ ~
I have been meaning to post this for you for awhile now, ... but I keep getting caught up in other research’ ..
anywhere, Here ya go’ ... you’re gonna like this link’
http://www.kccllc.net/wamu/document/0812229081011000000000003
“PLEASE TAKE FURTHER NOTICE that “Schedule A” and “Schedule B” to the Kosturos Declaration were inadvertently omitted from the initial filing.” ... Really ? ...
... “inadvertently omitted ?” ... yeah, Okay den’ that’s funny, ... how about the truth ? is More like ?, ...,
... “purposely omitted ?” ...
AZ
~ ? Something Is Still Missing', Maybe It Is The Actual Process ? ~
* The "Exchange Event" Happened (8:00am on 09/26/2008)
* WMI Investment Corp., Was "Secured & Protected" Within The First WaMu Bankruptcy Filing (10:15pm on 09/26/2008)
* The Two Failed Attempts at a Plan 6 Approval Were Real'
* The "Mediation" leading to Plan 7's Approval, Actually Happened' (late 2011)
* The Continuous Performing "Trusts" are Obviously Real (the Globic' Settlement, The Preferred Offering, The CCB's, the WMB Noteholder Program, WMIIC', etc, etc, etc,)
* The distinct wording in the Plan 7 Release Language (41.6) is Real' ...
... ? ... So' Is It Possible ... ? ...
That the WMI reorganized new company', ... WMIH-Corp' ... is the actual recipient of the Performing Trusts distributable dividend returning "Cash" ... at the very same time as the Class Releasing Participants' along with' everyone else' that is also involved ? ...
Maybe' Just Maybe', the newly reorganized WMI' the new company (WMIH-Corp) doesn't actually have a need or a responsibility to re-issue a replacement P Security' or, actually have a responsibility to redeem a K' Security ? ...
Maybe' Just Maybe', ... WMIH-Corp receives its Own' participating percentage of a, Trust Generated Cash Distribution', at the same time as us' ... ? ... Now that "Globic" has been Settled and Completed'
Maybe', This is why the newco CHOSE' to pay off the "Notes" prematurely ... ? (as revealed on 10/03/2017) ...
I've studied, read, sequenced, and researched these documents, along with the "dual tracking" litigation' and, I DO NOT believe that anyone able to be held legally accountable has actually lied' ... So' something just isn't right' ... and maybe that something is in the actual process' ...
Anico said OK', ... AAOC' said OK', ... The Senior Noteholders said OK', the Junior Noteholders said OK', ... The CCB Trusts said OK', ... the PIERS Representatives said OK', the Equity Representatives said OK', ... Judge Walrath said OK', ... the WMB Bank Bondholders (the ad-hoc' Steering Committee), needed to continue and complete their own dual tracking litigation in D.C. ...
... Something just doesn't add up' ? ... and it may be within the actual Forward Moving Process', that is aligned with Trust Distributions' ...
AZ
~ Nosch, Yes, An Excellent Observation ~
This is not over ... the FDIC acknowledged the wrongful taking of WMI’s property in Filing # 5885’ ...
Remember, The GSA was between WMI & The FDIC ... with JPMC listed because they were allowed by the Court to be an “Intervenor” ... Your signed release (41.6), released the JPMC Entities’ and their People (Persons) ... as JPMC was a third party’ actually chosen by the FDIC and not chosen by WMI’ ... this just makes sense ...
However, an important distinction is That regarding the FDIC’, ... You only released the FDIC’s People (Persons) ... You DID NOT release the FDIC-C or the FDIC-R ... as “Entities” ...
AZ
~ An Important Distinction Regarding Plan 7 ~
Remember, The GSA was between WMI & The FDIC ... with JPMC listed because they were allowed by the Court to be an “Intervenor” ... Your signed release (41.6), released the JPMC Entities’ and their People (Persons) ... as JPMC was a third party’ actually chosen by the FDIC and not chosen by WMI’ ... this just makes sense ...
However, an important distinction is That regarding the FDIC’, ... You only released the FDIC’s People (Persons) ... You DID NOT release the FDIC-C or the FDIC-R ... as “Entities” ...
This ain’t over
AZ
~ AT', I'm Okay, I Sincerely Hope You Are As Well ~
I'm glad you are here and one of the posting participants' ... sometimes I have to read one of your posts more than once' ... But I get it'
... Life happens to everyone' ... and affects us to our individual capability' ...
AZ
~ Temo', DM', and Folks ~
Just a few of my own thoughts' ... In My Own Opinion ? today's conference call does not change a thing' ... not one thing' ... I totally know why I'm involved here' and so do all of the institutional participants' ...
The newco' ... ~ WMIH-Corp Will Be The "Tell" ~ well ahead of any reveal of information to the public, via a CC, or an 8-K, press release, etc. ...
today's CC ? changed nothing' as far as I'm concerned ... Some of The Trusts are SEC private entity, which continue to be active' and producing, according to their individual prospectus released' design' ...
what we have here' is a Board of Director's that is trying way to hard not to say something' ... If' ? they truly don't pay any attention to the trading pps' of the company ? as was stated' ? ... then why did / does the now extended, Credit Facility' continue to need with an ... "Embedded Derivative Function" ? ... Really ?
The time has now come to use their own game for individual profit making' ... while I wait for the truth and true financial reward to begin to be revealed' ...
A Propaganda Machine ?, ... Hedge Funds ?, ... Powerful Private Equity ?, ... and a Secret Handshake group of a BOD's ... that obviously are going out of their way' to NOT tell the shareholders something' ... ? ...
AZ
~ Nope', J. Carreon (A&M) Said That To Judge Walrath ~
I was just paying attention' & That' has always' has made sense to me as well'
..."When WMI's bank, WMB' gets removed from the Consolidated Taxing Group ? ... so goes the associated tax benefit" ...
Again' ... All I do is Pay Attention
AZ
~ Aren’t You The One That Was Just Saying ~
Earlier today, ... That the D.C. Action, ... Globic’ ... Just Ended ? ...
so, which is it ?, ... Nopey ? ... Yeppie ? ... or, ... I just can’t remember what I saidie’ ...
AZ
~ Mr Chilln’ ... Good, That’s Cool ~
AZ
~ Is ? WMIH-Corp Involved in any capacity’ with Any Of Its Predecessor’s WMI’ Privately Operating Trusts’ , In Any Form ?, past, present, or future tense ~
Cayman A-1 & A-2, and Preferred Offering I, II, III, or IV ...
... or,
Commercial Capital Bancorp, HFC 1, CCB IV, V, VI, VII, VIII, IX ...
... or,
Any participation within over 300 original residential pooling & serving agreements ...
AZ
~ You Tell Me’, What does your own DD Tell you ? ~
... Are you planning on waiting around for the WMI-LT’ for a couple of more years until 2019 ... ? ...
do you believe LTI’s will ever be issued beyond Tranche 5’ to your released 90,000 common holdings beyond Tranche 5 ... ?? ...
.... Did JPMC buy all of’ WaMu for a Billion Eight ... ? ...
... Did the WMB Bank Noteholders (the ad-hoc Steering Committee) ... waist their time ? ...
... as I posted the linked class releasing numbers yesterday, ... did the 186 million of the original 200 million shares of newco’ at reorg, get issued to a bunch of simple minded releasing knuckleheads ? ...
... Was the WMI Noteholder Program, issued out the UK a figment of my imagination ? ...
... Is the Original Preferred Offering, ... Real ? ...
... Did the REIT Series, ... Exchange Event ... Happen ?
... Did the, Commercial Capital Bankcorp’ ... Trusts’ Get Paid ? ...
I can keep going’ ... so, you tell me’ ... ? ...
AZ
~ JJ, Yep I’ve Truly Worked Hard On This Elusive Investment ~
And I’ve tried to post and release’ only the relevant segments to the innocent retail participants that found themselves caught up in this WaMu deal’ ... 30% of the original commons not releasing ?, plus all of the jumping bean security switch around nonsense of 1st quarter 2012’ ... ? ... and then’ the icing on the cake’ ... was when that, - dont_b_kruel - ... put a giant burr under my saddle’ ... (the rest you know) ...
Here’s what I do know’ ... there isn’t diddley’ that any of us can do to change what is to come’ ... it is what it is ...
So, ... As my own due diligence has continued ... ? ... I have wrapped my brain around what reality truly is ... ? ... so, I can be prepared ... for what is to come’
AZ
~ Well ?, I Am Currently Keeping a Watch on Many Things ~
The Least of all, is anything related to the LT issuing any LTI’s to Tranche 5’ and beyond’ ... yeah’ right’ ... (that one still makes me laugh) ...
Nope’ .., to me ? The LT is nothing more than a usable Pass-Through mechanism ...
To be ... used’ ... for my advantage, in the same fashion as the LT was ... used’ ... to my advantage when my class 21’s (dimes) and their return distributions were placed into my account as a class 12’ general unsecured recipient ...
... No’ ... No’ conversation is necessary’ ... just put the distribution(s) in my account’ ...
AZ
~ Doc’, My Take ? Is Everything Is Just Fine ~
Now ? As an actual long time investor ?, (since the 70’s, pre-WaMu’ seizure) ... I can finally view WMIH-Corp on its own merit’ and, on the extensive amount of due diligence, study, and research, aligned with its original predecessor, ... Washington Mutual, Inc. ... the work on this, that I have done over a five plus year period now’ ...
I have finally, and I mean FINALLY’ ... been able to totally disregard the WMI-LT, and all of its irrelevant propaganda and word twisting nonsense, it has presented ever since its inception on March 6th, 2012 ...
The new company (Wmih-Corp), has paid off the notes prematurely, as announced on 10/03/2017’, ... and the LT will now go its own separate way as recently announced in its request for an additional extension, out to a minimum of 2019’ ... “see ya” ...
If you hold Tranche 4’ PIERS Class 16’s ? ... you are in for a wait’ to probably get zero additional, especially after the lawyers get all done, ... again, ... lawyer chow, To Be paid to a minimum of 2019’ ...
If you continue to hold your original release issued tracking markers ? ... and / or ... shares of the newco’ WMIH-Corp ? ... just relax, and sit back and watch the hedge funds and private equity now’ begin to work their magic’ ...
... The Notes Are All Now Paid Off, prematurely ?, The D.C. dual track is completed ?, along with the Globic Settlement ?’, ... All now done ? ... These LARGE investors will want to move’ ... irrelevant of who or how many of us are still remaining ...
AZ
~ Because’ They Can Still Manipulate the PPS’ Until 01/05/2018 ~
ADDED; ... or at minimum until 12/29/2017’ ...
Remember, ... just who ... we’ ... have had to deal with here’ ...
A propaganda machine
Hedge Funds
& Some Quite Powerful Private Equity
Take a moment to Review my transitional numbers that I posted yesterday ...
AZ
~ Johnny, (B), Yes That is 100% Correct ~
Everyone, ... Watch the newco’ ... WMIH-Corp ... IF’ ? newco tapped into the Trust produced Liquidation Preference Cash, during the third quarter of 2017’ ... WE’ ... will know very soon’ ...
IF’ ? the newco’ WMIH-Corp, actually waited to tap into the Trust produced Liquidation Preference Cash, until the fourth quarter of 2017’ ... WE’ ... will not need to be told until March of 2018’ ... (however, it is doubtful that they waited, in my opinion) ... Globic’ is completed’ (thankfully)
The KKR originally provided replacement credit facility ?, ... is just being renewed and amended to the company’s positive ...
AZ
~ Good Morning Everyone' ~
This mornings "press release" was expected by everyone, and was obviously going to need to be revealed by WMIH-Corp', as well as the announced "conference call" was also reasonably expected as well' ...
In My Opinion ? ... I find this announcement and the amendments mentioned to the original credit facilities agreement to be all positive as we' move forward' ...
A few of these issues mentioned are truly quite interesting' ... First and foremost', ... to me as an investor' ... is the transitional pps' lock revealed to be now at a defined pps of @ $1.35' ... So, NO More 50 cent transitional variable nonsense, ... ($1.75 - $2.25) ... so, it should be a bit easier to maintain knowledge of what is going on, as each quarterly report is released', with a pps of $1.35 being the new base' line' ...
WMIH-Corp 10-K For Period Ending 12/31/2016
https://www.sec.gov/Archives/edgar/data/933136/000156459017004292/0001564590-17-004292-index.htm
Risks Related to the Embedded Conversion Feature of the Series B Preferred Stock
The embedded conversion feature of the Series B Preferred Stock has caused wide fluctuations in our earnings and on our balance sheet and is likely to continue to do so due to the requirement to reflect the fair value of the embedded conversion feature in our financial statements.
The Series B Preferred Stock is a hybrid financial instrument that contains a mandatory conversion into WMIH’s common stock under certain circumstances. Under applicable accounting rules, the fair value of this embedded conversion feature must be determined at the end of each reporting period. Upon any conversion of the Series B Preferred Stock in accordance with its terms, the Series B Preferred Stock will convert into common stock based on the outstanding principal and accrued interest, subject to a floor of $1.75 per share of WMIH’s common stock and a ceiling of $2.25 per share. The embedded conversion feature results in a derivative liability primarily when WMIH’s average stock price exceeds the conversion price and a derivative asset primarily when WMIH’s average stock price is less than the conversion price. Any change in the fair value of the embedded conversion feature will constitute other income or expense, as the case may be, in the applicable reporting period. Upon conversion or redemption of the Series B Preferred Stock, any asset or liability related to the embedded conversion would be eliminated. Although a non-cash item, the valuation of the embedded conversion feature has fluctuated widely during the reporting periods and significantly impacted our balance sheet and operating statement.
The embedded derivative was recorded as a result of the variable conversion feature in our Series B Preferred Stock and the change in fair market value is reflected as the other income or expense item “change in fair value of derivative embedded conversion feature” which resulted in $201.5 million of other income and $54.6 million of other expense for the years ended December 31, 2016 and December 31, 2015, respectively.
Derivative Embedded Conversion Features
The Company has recorded a derivative embedded conversion feature of the Series B Preferred Stock which is adjusted to its fair value as determined using Level 3 inputs described below under fair value measurement. The change in fair value of the derivative embedded conversion feature is calculated at each reporting date and recorded as other income or other expense on the statement of operations
Restricted Cash
Restricted cash includes (i) amounts held for the express purposes of paying principal, interest and related fees on the Runoff Notes (as defined in Note 7: Notes Payable) pursuant to the terms of the Indentures (as defined in Note 7: Notes Payable) and (ii) proceeds of the Series B Preferred Stock offering held in escrow
~ READ', The "Material" Or NOT, I Won't Argue ~
... It's obvious to everyone who has taken the time to study and research ALL that has been made available to everyone' ...
For anyone to not entirely understand the multiple segments of the WaMu process' is one thing, and in my own opinion, quite understandable' ... Yes This ? Is and Has Been very, very, complex "dual tracking" litigation' ...
However, ... holding on to a concept, for the simple reasoning that one wants it to be true' ? ... Is, In My Opinion, A Waist Of Time' ... ("wishful thinking"' is not a reality in my "financial" world) ...
just sayin'
AZ
~ Your POINT' IS NOT Document Supported ~
The ONLY ... POINT' ... That Actually matters ? ... IS' What Is Documented and Is Actually Possible' ...
AZ
~ ADDED', The LT & It's Trustee ? ~
... IS NOT' Controlling Any Of, ... The Original Trust Supported Certs or any of the WMI Debt Structures originally Issued', ... The Original Preferred Offering, which is currently being discussed ? ... and their, "Supporting Trusts' ... or again', ANY' of the Actual Trusts' for that matter' ...
... IF' ? ... Anyone still continues to believe that the WMI-LT (propaganda machine) is actually relevant to the large financial returns available here' ... "Snap Out Of It" ...
I suggest one reads' a WMI-LT QSR' ... or reads' the LT's recent request for an extension out to a minimum of 2019' - Good Luck with all of that' PIERS Holders -', ... or, ... read' Attorney Rosen's response to Johnny (B) ...
AZ