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THJMW IS YOUR STATEMENT APPLICABLE TO MIKE WILLINGHAM AS WELL?
"I remember one powerful moment when an individual who owned a
small number of preferred shares stood up in court and argued
that he felt the chapter 11 plan “just wasn’t fair” because he
was treated differently from other preferred shareholders who
were large institutional investors. His objection was sustained
because he was right: the concept of fairness permeates the
Bankruptcy Code and requires that all creditors and shareholders
of the same type receive the same treatment.
It was a technique used by EC, at that time they announced preferreds agreed to share the pie so that commons would be in the game.
How big is actual pie?. This benefits preferreds more if the assets left are over 10B, if the assets are below 7.5B, commons would benefit.All JMHO.
Whatever is left after the claims will be divided 75/25 between class 19 and class 22.It could be a dollar or more than 26B.
2015-11-6
10-Q same wording
https://www.sec.gov/Archives/edgar/data/933136/000156459015009929/wmih-10q_20150930.htm
I love my escrows
Why?.
Escrows and WMIH are unrelated.
LTIs or cash can be expected for former classes 19 and 22 imho.
7. Mid Jan/2018 the 600 million dollar preferred B offering needs to be extended, fully returned to investors and/or replaced with other funding
So now its mid Jan 2018 opposing to your own post of end of 2017?
8. For the aforementioned reasons and facts, I look forward to positive events happening between now and the first part of July/2017 and no later than fourth quarter year 2017.
What would happen if nothing happens in 2017?.My guess, they dont do it in 2017.
Thank you.
The timeline
Not true.
Leon cooperman asked for the redemption of preferreds in the last shm and was answered by the ceo stating that they can extend it for another 6 months beyond Jan 2018.
CONTINUING EQUITY
Docket 7006
7. More specifically, Tax Code Sections 382 and 383 imposes restrictions on
the amount of Tax Attributes eligible for future offset purposes that could materially reduce the
benefit of the Tax Attributes unless the Debtors take steps to preserve the value thereof in
advance of confirmation of a plan of reorganization. In this connection, Section 382(l)(5) (the
“(l)(5) Exception”) excepts from application of the aforementioned statutory limitations a
corporation that undergoes an ownership change by reason of the confirmation of a chapter 11
plan of reorganization, if certain conditions, relating primarily to continuity of equity ownership,
are met.
It was an award.
"Explanation of Responses:
(1) This annual restricted stock award issued in connection with the Company's non-employee director compensation program and pursuant to the Company's 2012 Long-Term Incentive Plan, as amended, vests over three years, one-third each year on March 19 of 2018, 2019 and 2020."
Aurelius P&A request in 2014 after reorg.
Page 211/249
https://www.fdic.gov/about/freedom/fdicfoialog2011-2014.pdf
So true.Let one(could be a bunch of goonies) to short and the other award themselves bunch of freebies.
Nice work MW.You ended up with 500K.
Wink wink BS and MW with the help from who? MW? SG?
Atleast i found it today, i am glad.Now anyone can request for a copy from FDIC thru FOIA.
GRANTED FULL BY FDIC FOIA
That means there was a non public version P&A IMHO.
118 PAGE P&A FDIC GRANTED IN FULL FOIA
Page 238/248
https://www.fdic.gov/about/freedom/fdicfoialog2011-2014.pdf
Unbelievable! that there is another version of P&A.
Probably for managing the assets on behalf of the receiver, just a guess.
This management and co are fully cooperative to the creditors and others except shareholders.Leon Cooperman settled with SEC , an investor holding preferred securities in this company.AAOC, biggest ITs ever, have been involved in this case.How this company was reorganized and MW ended up as chairman previously and slowly became a board member?, and continue to be a board member?.
He said that they could look into it if the need arises.The best option he thought would be available for his team.
The CEO said that they will look for a Reverse Split if the share price falls down.Is he qualified to be a CEO?.They are hand in hand with deep pockets.
same bs by ceo
VERY NOTE WORTHY:Thank you for highlighting this.
"All the existing airlines are bogged down with huge investments in old technology. We plan on revolutionizing the airline industry, taking advantage of the newest technologies"
USGL will be using the latest technology unlike rest of the airlines.
Leon Cooperman settles with SEC for the IT issue.
He invested in WMIH , well known for infamous bk IT and corruption.
FIRST CATALYST
$50mm non-dilutive capital raise,IMHO.
EU,CHINA,SOUTH AMERICA,BOTH PASSENGER AND CARGO Nice article of SHM coverage
http://www.recordonline.com/news/20170511/usglobal-airways-eyes-take-off-from-stewart
Not even mention the name -
That is the policy of the company and CEO.
Baltia is a fkn crked named by crooks operating from faraway.
Its becoming American and i am glad i got in now.
Its a dream come true in next 6 months IMHO.
Exactly.It may never happen.
WOW.... but what happened today was much better than what your expectation is.Market needs to understand, when that happens, SP will fly.This would be a wonder stock in few months, IMHO.
"You pose a good question"
NDA is in place, they could n't talk much.
All this rough diamond needs a proper cut and shine...
What was the old lady saying?.
All gifts for Christmas,newyear...etc wrapped in one box?.Is it not USGL shares she was referring to?.She bought about 10million shares recently,imho.
He was kicked out along with peter.The scum bags are gone forever.
USGL DIAMOND IN THE ROUGH - CEO
Their plan is to fly by the end of 2017.
Not far from now, six months.Will be in dollar land.IMHO.
And using the same company benefits the company in getting faster approval of FAA certification as settled with FAA.Bankruptcy does not provide that.
CEO invested in Baltia , he took over as CEO after firing scum bags who were using this company to feed them.And taking over another company is not guranteed, thats why they already started application process and finished part 1 of the certification. Parallel looking for right acquisition for a company which has good routes with a certificate.
It will end up green,IMHO.
They were using manual entries for books and records, not computers,those scum bags.I got in this week after seeing those scum bags were pushed out of the company.I called them last year and spoke with one of the scum bags and asked why they did not hire a certification consultant, he said he had no clue.I sold my stock for a loss.
This meeting looks very professional and enthusiastic.
RS may or may not occur.
But the company wants approval for 1 to 25 or 1 to 50 RS approved so that it could utilize it, if needed.
If the stock price rises significantly, they may not need to implement RS as CEO stated.
This looks good.
CEO is pro shareholders
Scumbags were removed from the past management.
CEO sounds reasonable and he mentioned they might not implement RS, that means a great potential for this stock.
You need a plane first to get the certificate and fly.
USGL has a leasing option to get the plane in a month or so.If they can get already approved certificate from another company, they can start flying the routes.Or else they have to go thru the process of getting certificate.But they already went thru lot in past decades, FAA and Baltia came to an agreement that past processes would be used in the new application too, that means saving bunch of time and flying in 6 months by end of 2017.This stock will fly soon,IMHO.Last year i sold for a loss.I just got in this week.