Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
TDAMERITRADE filled my order this morning
I have been following since pre-seizure. I do understand the FDIC-R may appear to be carrying off balance but they also claim in this and other documents as of May 2016 that based on the current 2.7 billion in FDIC-R and current claims to be settled it is very unlikely that WMILT escrow holders will see any payout.
Not my words ...theirs. So does that mean they will close out WMILT with this amount of 2.7 Billion. On the books? If so how does the 151 billion come back to us.
Would WMIIC get this.
Would WMIH?
Don't get me wrong here...Just posing Questions. As are we all. I am hopeful we will get a portion of the 151 billion someday!
okay...
I have been sitting on Escrow markers forever too. not a lot only 100k+. I Would love a payout but nothing yet... This has me curious: There is no 151 billion owed according to this audit. Where did it go? these numbers are in the 000's so all values are times 1000
This is from the FDIC: Failed bank Information website
[url][/url][tag]https://www5.fdic.gov/drrip/bal/balancesheet.asp[/tag]
Home > Industry Analysis > Failed Banks > FDIC Balance Sheet Summaries from Failed Banks > Failed Banks Info
Failed Bank Information WASHINGTON MUTUAL BANK - Receivership Balance Sheet Summary (Unaudited)
Fund Code: 10015
Failure Date: 09/25/2008
For Period Ending March 31, 2016
(in $000's)
Assets Current
Balance
Cash and Investments $ 2,755,078
Due from FDIC Corp and Receivables 358
Assets in Liquidation 0
Estimated Loss on Assets in Liquidation (1) 0
Liabilities Current
Balance
Administrative Liabilities $ 6,382
FDIC Subrogated Deposit Claim 0
Uninsured Deposit Claims 0
Other Claimant Liabilities 13,819,859
Unproven Claims 1,200
Total Liabilities (2) $ 13,827,441
Net Worth (Deficit) (11,072,005)
Total Assets $ 2,755,436
Total Liabilities and Net Worth $ 2,755,436
WASHINGTON MUTUAL BANK - Receivership Claims Detail Summary (Unaudited)
Proven Deposit Claims Claim
Balance %
FDIC Subrogated Claim $ 151,150,664 100%
Uninsured Depositors 0 0%
SubTotal - Proven Deposit Claims $ 151,150,664 100%
Less: Dividends Paid to Date 151,150,664 100%
Other Claimants Claim
Balance %
General Creditor $ 19,250 0.14%
Senior Debt Holders 6,077,557 43.98%
Subordinated Debt Holders 7,723,052 55.88%
SubTotal - Other Claimants $ 13,819,859 100%
Less: Dividends Paid to Date 0 0.00%
Total Unpaid Deposit Claims $ 0 0%
Total Unpaid Other Claimants $ 13,819,859 100%
(1) Valuation of Assets/Loss Allowances: Assets of the receivership are shown at values representing cash on deposit or the book value of amounts invested; the principal balance of loans, notes, other debt instruments or receivables (note that interest on these assets is not accrued after failure but is recognized when received); the foreclosed value of real and/or personal property or the book value of assets (cost less depreciation or amortization through date of the institution’s failure); and the historical cost of the net investment in subsidiaries, partnerships or joint ventures, adjusted where appropriate to reflect the receivership’s portion of the underlying net earnings or losses. An Estimated Loss on Assets is provided when anticipated future asset disposition proceeds, including associated expenses, are less than recorded amounts. Future asset disposition proceeds are generally estimated by determining, via sampling or recent disposition activity, the recovery rates for similar assets across all receiverships. However, actual recovery rates for this receivership may differ according to the quality and type of individual asset, as well as over time with changing market conditions. Accordingly, the gains or losses ultimately realized for this receivership will likely vary from amounts estimated.
(2) The Total Liabilities line item reflects those actual and accrued liabilities recorded on the accounting records of this receivership as of the date of this report. The Total Liabilities line item may not include other liabilities arising from Estimated Interest on Claims and Income Taxes, as these liabilities may not be recognized as of the report date, in accordance with current receivership accounting practices.
Last Updated 04/22/2016 Customer Service
Who does this belong to...wmih...jpm..Lti...none of the above???
Its amazing how some seem to know what the TPS outcome will be...Some friend of the judge or maybe a TPS friend or family member perhaps. "IMHO" isnt used enough here. No factual link at all. I for one would like to see this settled yesterday so we can get rid of the ridicule and move to higher highs and higher lows.
The next financial release will be very telling on the status of the payment schedule to NHS and our bottom line improvement for this quarter. IMO
So Namtae...with your stellar forecast of PXYN and your determination of its inevitable demise... are there any stocks that you give as much praise too in this OTC and Pink arena or is everything you choose to discus in a perpetual downturn. Just curious. Seriously, If you have a stock pick that is doing wonders as opposed to your considerations for this ticker what they might be? I could sure use one of those in my portfolio!
TIA.
well LG... Because of my 100k escrow markers I got 60 more shares of wmih...they have value. I have been in pre seizure...I have hope but I stay grounded that nothing may come of it.. If we were to get a recovery...what do you think the escrow price per marker range could be?? thx
Well Lets hope for green days on PXYN in the coming weeks...i have too many shares here to see my investment dwindle.
I like your terms better:)
I see where the payment schedule
"removed the originally agreed upon monthly payment schedule and specified a commencement date of July 1st 2015"
but in terms on amendment i believe it was shifted...10Q section 12 is not specific on new payment schedule. You may be right but i would think from a business stand point NHS is probably going to be paid monthly. That's how i do my billing on contract work...but again that's just me.
Regardless...I like that they are flexible enough...WHY WOULDNT THEY BE...THAT'S A LOAD OF CASH...are they public...heheheh
ok so your point is they could hold payment all year because of the scheduled payment removal if they so desired and have a balloon payment at the end of the one year term?
It says all other terms are still in affect and the term is still 1 year.
Just FYI ...Here is the doc
AMENDMENT NO. 1 TO THE SERVICES AGREEMENT
THIS AMENDMENT NO. 1 TO THE SERVICES AGREEMENT (this “Amendment No. 1”), is entered into as of June 30, 2015, by and between NHS Pharma Sales, Inc., a California corporation (“NHS”) and Mesa Pharmacy, Inc., a California corporation (“Mesa”) to amend Section 7(a) of the Services Agreement dated June 9, 2015 (the “Agreement”). All defined terms not defined herein shall have the meanings as ascribed to them in Agreement.
RECITALS
WHEREAS, the parties entered into the Agreement in which NHS shall provide certain specified services to the Mesa;
WHEREAS, the Parties desire to amend Section 7(a) of the Agreement, and to leave all other terms and conditions as set forth in the Agreement in full force and effect;
NOW, THEREFORE, in consideration of the mutual promises and agreements, provisions, covenants, representations and warranties herein contained, the Parties hereto hereby agree as follows:
7. FLAT FEE FOR SERVICES
(a) Subject to the terms and conditions hereunder, in consideration of the Services to be performed NHS, NHS will receive a flat fee of $120,000,000 over the Term of the Agreement.
12. TERM
This Agreement shall be effective as of the Effective Date, and the term of this Agreement shall be for one year (the “Term”) commencing July 1, 2015 and terminating on June 30, 2016 (“Termination Date”).
IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment No. 1 on the date first above written.
Lighthouse there is an EX10-1 amendment file in the Edgar files for this 10Q that states exactly what Sean is sayin. If you have found something in the 10Q that states this is nulled can you share the location in the 10Q.
Trust me I would prefer your conclusions but this is whats there.
https://www.sec.gov/Archives/edgar/data/1346973/000149315215003605/ex10-1.htm
This is really disheartening for what should be a blowout quarter..either we are all holding for the big win or there isn't anything positive in the wing...and the only stock moving is the bid setters...?
When Escrows turn into LTI's...Can a waterfall occur and Rosey still say no money for escrows and still be correct ...lol jk
I got 60 shares today in my ATrade acct
Escrows Are Go...F.A.B
DD...I hope your right...I am long here and appreciate your outlook.
Working Capitol Deficit Shrinks from 3.3M December 2014 to 1.7M in March 2015.
So As pointed out with a negative spin - they do have ~ 2M Deficit but on the positive side - they still have cash on hand and are improving on the deficit. It's all on how biased one is when presented.
Is this a concern...of course. Is the reduction significant...yes. The reduction is 1.6M in a quarter. Not bad for a penny stock trying to make a go of it. IMO. I would look for this number to improve in the next quarter release
We should all keep an eye on this figure the poster was key to emphasize as it is important to the health of this business. Any hiccups in operations can cause this to spiral out of control. Especially if the lawsuit ends unfavorably.
I have worked with many startups that operate on a deficit and generally get additional VC money to continue operations. Not the case here as it seems they cant get bank financing at this time. The only choice they have is to sell more product or shares as they expand the business. Why else would a "legitimate" company go public but to generate working capitol to grow their operations. I said legitimate so don't diminish this suggestion with a stock selling scam reply.
The main issue at this time as I see it is uncertainty. I believe the quarter results will be favorable but no significant rise in share price until this looming lawsuit ends in a positive win for Praxsyn. Should they lose..the naysayers will be correct and the share price will drop accordingly until they recover from this loss...if possible
Working Capitol is Assets - Liabilities.
Since PXYN posted a deficit of $1.7M+ and has assets of $1.8M+ would mean that they have 3.5M in total liabilities. My mistake. I assumed this was liabilities not deficit. I have to give this one to that poster unfortunately. If this is truly the case.
Still...This has to improve next 10Q if all going well
FACT: PXYN has the liquidity to handle the deficiency. Funny how that part was left out of someones post.
From PXYN 10Q March 2015
"As of March 31, 2015, our principal source of liquidity is from collections from our PPO accounts receivable and the factoring of our workers compensation accounts receivable, all of which result from the sale of our prescription products. During the three months ended March 31, 2015, we received proceeds of approximately $3.1 million from factoring and collected in excess of $5.0 million against PPO receivables.
At March 31, 2015 we had cash in excess of $1.8 million and a working capital deficit of slightly more than $1.7 million."
Lets see if that number in the next few weeks improves shall we!
DD...In docs regarding Voluntary Filers I read...Praxsyn is a voluntary filer according to the firm number 333 posted on their Edgar 10K and 8K documents. That is, unless I misread the guidelines I came across that designates Voluntary. I brought this to peoples attention a while back not as a negative but as a positive. It doesnt mean anything is wrong with their company or their filling methods. Though some here will make it a negative point because I guess they must.
As long as they keep current with their filings then when they meet the other 15d requirements to be fully reporting it will serve them well to have been in compliance in the future. How many pinks file anything or report earnings and turn arounds like this???
So it really is a non issue, at least to me, if they are or not. They file regardless and actually its a plus for future moves up...IMHO.
If they make $360m and capped the factoring cost at $120m that would be a huge benefit to the bottom line...lots of ifs but to make that kind of payout they must see a huge upside coming...all speculation but I'm in for the win. $240m profit after factoring for 2016. Wouldn't that be something.
Is it really voluntary...i posed the ?? Because they were in 2013 as PAWS....its unclear in current filings but some have latched on to my request as fact...please clarify volunteer status in their current filings
So My 100K markers of common currently worth $0 dollars could be worth what if $1B, $10B or $100B come back to the estate??...and someone thinks this is feasible this year?
Do I need to sign anything to exchange markers for LTI or is this automatic by the broker?
THX!
Wait... Proxy..Should I be getting something in the mail for my escrow markers that I need to sign for the LT's...I thought I just let them collect dust until a potential payout??
Please advise...thx
On April 12, 2014 10K Posted
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X]
[color=red]
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(b) of the Act. Yes [X] No [ ][/color]
( check YES if not required means voluntary ??)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]
just askin :)
Thank you Drugdoctor for working through the details of the filing. It so sad that so many bashers are out to belittle long term investors and say nothing positive about this company when there are so many positives. We all know the factoring is a major concern and yes the SP is down BUT we also know they are doing something about it...Uhm more states coming online TOO!
TIME is all this needs to see how well they can perform on these new opportunities. We should see this continue on the road to higher profitability. I for one have 1/2mil shares because I believe in this company and that it has the ability to increase shareholder value. Next quarter should see the bottom line continue its upward momentum. My hope is we see it break 1mil or better. Nice data summary for the three quarters by the way.
I know many here want this to succeed. Where do you really see this stock value by this time next year? I wont say next quarter because business model changes take time and I am happy to see they are working to make the right changes count where it matters most. The bottom line. There are very very few pinks that are bringing in such numbers, have such potential and are also profitable.
Again TY and have a great holiday.
Well I wont get my hopes up for a payout but it is nice to dream big or go home :D
Anyone know what the marker share structure is?? this could be a big number
oooops make that 6.25 Billion to commons OMG!!
75/25 split. 75 to Preferred 25 to common I believe.
@25 billion 25% would be 625 Million to commons. Not sure what the total share structure is for total number of preferred or commons to get a price per share at that value. If it is even feasible that we would get it..I only have 100k commons markers...would be nice to get something back for the investment so long ago!
PXYN has righted the ship. From buying this shell and merging multiple companies under one roof and getting rid of the old board members, working to reduce toxic financing AND BECOMING PROFITABLE without the new states on the books yet. In just three quarters! Then everything is looking far better and brighter for this and future quarters.
If you read posts with contrary opinions to your own and IMHO the positive upside we believe is coming...do your own DD and also check the posters profile to see if ANY positive posts are in their history on this or other tickers. If the results are Zero then consider that as how much weight you give to that opinion.
Hoping for more upside in the weeks and quarters ahead!
Good Luck on Your Investments.
Well, I'm sitting on 500K plus...accumulated another 200k this week. I am holding at least half for after news and hoping we get some descent numbers. .25 sounds nice but it will be hard to sell if it looks good for next quarter too.
Everything on this board sounds very positive compared to some boards I follow. Looking forward to the report. GLTA
Well if your right I would love to be in at that time...right now they and have lost confidence in the market and only a license and the province turning this positive is going to stop the continuos carnage...Cens words will not right the ship. We need a political statement and full docs with no guessing that states they can produce mj at the site...period. Until we see that were stuck in the landslide
This recent message is very bad news as Mayor Tom Bain suggest they could bring in livestock or some other crop that would fit the current agricultural zone requirement. No mention of the right to plant MMJ crops. That would upset his public.
This is going to be a war that he wont win without some serious compensations for last years approval to allow it to be built. Council knew it was a Marijuana facility and had plans to expand.
If it was going to be an issue then the permits should have been on hold but the city got its permit revenue. If Bills only clarification was agricultural then why did they allow the high security fencing permit. It doesn't really fit the area either. Counsel is backed in a corner and will have to work out something with FITX.
I do remember the video... I think it was late last year or early this year when the introduction of Bill and the proposal to build the facility for growing marijuana was easily understood what was to be built and for what purpose
A slaughter house....now that would be too funny!
I have been very bullish on FITX but even though I read the shareholder letter I am somewhat uneasy about the future timelines. The town issues are a problem for future expansion. Additionally, everything I read on License issuance from HC has come to a crawl and now they have to deal with a lawsuit as well.
I think FITX is legit and they may be able to get this sorted out but not at some cost to share value in the short term. I am out as of today saving some profit. I believe this is going lower until a positive word from the town or municipalities is solidified.
Hope I can get back in later and selling wasn't a bad move here.
Good luck on your investments.
oh well lets hope for a better week of FITX upward momentum
ciao
Just trying to sift through this minutia of FITX info... true or misleading. I am invested here and would appreciate more DD from shareholders that want to see a company succeed and report unbiased and objectively instead of sector disapproval groups and others out to tear it down before it begins. There is such a huge agenda here against the SP going UP. Its been way too biased but I am seeing a shift.
From "Not zoned for this business" or "wont get a license because its a scam" to "if they get a license they will never be profitable"...as if they are running the company and have inside knowledge on how this is all being put together, We have no idea what deals have been made to get all this in place. Transparency to a degree is good and I would like some news letters on agendas as well but I don't want the company divulging its grow methods and equipment to the competition. One thing is certain though... This Sector isn't going away!
I believe we will be in an upward trend for several months ahead...cant hurt this sector as more states get on the bandwagon.
Good luck on your investments.
Thats Awesome!
If as you say no pre-license inspection was done...Can you say without any doubt that this consultant was not on an approved list by Health Canada and/or that the current document is not valid in support of a pre-license inspection per HC requirements section 9. If not then your opinion is noted and others like myself will do their DD as necessary!