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Why is there no bid for xlpi??? eom
Does anyone have any thoughts with regard to my posts about the current 8K ? They can be read at post# 55496 + 55497.
Thanks
The companies were Cambell Fund Trust and Atmos Energy Corp . Both their 8K's quoted the same laws of the securities act.
Current 8K: Can anyone confirm if the new 8K document has anything to do with the sale of (unregistered) securities? From my research I have found two other companies that have filed similar 8K's. They both quoted the same pre-commencement laws as WMI, which deal with the sale of some form of securities.
It is a filing that owners of substantial amounts of common shares must file when their positions change ie they have added or sold shares. I think that its for holders of 5% or more of total share count(unsure). As for it being good or bad, that depends on if shares are added(good) or sold off ("potentially" bad).
Is everyone dumping??? Brandes just posted notice of beneficial ownership. That's the second one posted today and third in two days!!!!
If you look at the short interest reduction month to month it was the smallest decline and I would think they would have wanted to cover at the base price of 0.02 where wamuq was at in dec. My feeling is that most of the trading are MM to MM and daytraders/flippers with "air shares". I believe there aren't many real shares out there left to trade. That is unless one of the major holders decides to pack it in and sellout.
Anyone!!! How is it possible for over 300Mil shares to be traded in dec 08 and in jan 09 and the short interest went from 65Mil to 63Mil shares. A meagre 2Mil shares. I find that very hard to believe.
I'm on the same page as you. I will cautiously begin by formulating my personal summary of the events to date with the relevant links and verified info. This I will hold onto if/when there is some concensus on the board whether this should be done on an individual or group basis. Based on this response I will make a decision on this course of action.
Thanks.
Survivor, do we need to wait on WMI lawyers to feed info to this reporter? They opened the door, we can also step in and help supply her with the "FACTS" (not opinions) we have gathered over the past months to stir her interest in this case.
What do you think?
Thanks survivor for your explanation of the exclusivity matter. Excellent read.
Could you briefly explain what this exclusivity in court refers to. This one is new to me.
Thanks
You can't be serious, if that was true wouldn't they be breaking the 5% change of ownership order of judge walrath? That was a joke right???
I agree, I expect at least one more trial run before any real news is forthcoming.
I wasn't sure but now I'm positive that this run was orchestrated to gain shares/take profits. There was a carbon copy run by pffbq which also started this week(3 day run) but they reached 0.15 to only pull back to 0.05. As I stated before any real movement will come closer to the end of january if all goes well.
I'm hoping this run is for real and not an artificial one fuelled by Nite and co. I am also not going to sell one single share until WMI speaks. There has been too many shenanigans going on with this stock which leads me to believe that its worth the risk.
Goooo Wamu!!!. ...holy shit, I can't believe I just said that.
I am very happy about the upward trend of wamu but I'm wary of this run. I hope its not similar to pffbq's run which ended today and promptly lost most of its gains. I really hope wamu's is for real.
In the United States, fraudulent conveyances or transfers[1] are governed by two sets of laws that are generally consistent. The first is the Uniform Fraudulent Transfer Act[2] ("UFTA") that has been adopted by all but a handful of the states.[3] The second is found in the federal "BANKRUPTCY CODE".[4]
There are two kinds of fraudulent transfer. The archetypal example is the intentional fraudulent transfer. This is a transfer of property made by a debtor with intent to defraud, hinder, or delay his or her creditors.[5]
The second is a constructive fraudulent transfer. Generally, this occurs when a debtor transfers property without receiving "reasonably equivalent value" in exchange for the transfer if the debtor is insolvent[6] at the time of the transfer or becomes insolvent or is left with unreasonably small capital to continue in business as a result of the transfer.[7] Unlike the intentional fraudulent transfer, NO INTENTION TO DEFRAUD IS NECESSARY.
The Bankruptcy Code authorizes a bankruptcy trustee to recover the property transferred fraudulently[8] for the benefit of all of the creditors of the debtor[9] if the transfer took place within the relevant time frame."
[WMI lawyers dont need to prove intention to defraud but just show that transfer of WM Bank left holding co. with small capital to continue business.
This should not be hard to do!!!]
I was looking at the short interest ratio which is shares short/trading volume. This gives the amount of days to cover which usually shows to be 3-6 days for WMI. The question is, why hasnt the short interest been covered already? The volume of shares traded here has surpassed this amount a long time now and should have long covered the short.
Correct???
Net operating loss- this is the overall loss suffered by the holding co. over a period which can be used as a shelter for future profits of the company. I believe indy's is about 800Mil.
And possibly most to lose! Have you gleaned any new info whether WMI can cancel shares and issue new ones while retaining most/all 20Bil Nol? That's my only fear right now.
Holy crap, and I thought tomorrow was new years day. Oh well, I guess I celebrate 4 2 more days easy. Hope d USA comes out d shitter 4 2009.
Good nite.
I personally am not worried since there is no entity now that would not want 20Bil worth of Nol value in this market. The problem with WMI emerging from chap 11 is that they will lose a substantial part of their nol due to their non business assets(cash and convertible securities)which are greater than one third of total assets. A buyout or merger is the best option in their present situation unless they get the banks back.
Just wait and see!!!
Does anyone have a clue why Barclays would be filing to buy more shares now when the market sentiment for Wamuq is to sell? I don't buy the whole "puts/options" theory it doesn't hold water imo.
Any other opinions out there?
Anyone come across any exceptions to the change of ownership rule for NOL? Read(wamurape.org) that there is possible avenue that shares can be cancelled and most or all Nol value retained for new entity. There are exceptions for Nol tax law but I'm not sure if any applies to WMI.
Note: Fact that most of WMI's assets are non business(cash + securities) assets does also affect Nol value. A buyout would be the best option to retain 100% of Nol benefit but done before "Paulsons Law" is repealed by congress.
Question: Wachovia was sold to WFC belatedly for 15Bil and Wamu for 1.9Bil.
Was'nt Wamu larger and much more valuable than Wachovia ? Why the disparity in price paid by buyer???
According to reports his removal was due to him facilitating the submittal of false records by another west coast bank. Nothing to do with us as of yet. I hope he starts to spill his guts out to the authorities or the media about wamu fiasco !
I can't say for sure. All I can say is WMI through the law team is securing the Nol value to get 100% back. This process will take time since there are pitfalls in this process that can result in WMI losing some or all of the Nol hence the slow methodical approach to the process. What I can say is that JPMs or other suitors time is running out since the loophole paulson opened in IRC sect 382 is closing fast so they need to act asap if they want the Nols.
GLTUA
Please post this FACT every day so the people who refer to companies that cancelled commons will finally understand!!!!!! Its like comparing apples and bricks....Geez
Did you like me see WMI'S game plan from that link? As I have been sayin all along shares cannot be cancelled if they want to keep Nol. The order to restrict change of share ownership to below 5% is required to preserve Nol value. If they planned to cancel commons they would not have used the bankruptcy option, debt would have been cancelled and this gain would have been used to add value to the company. IRC Sect 382 was adopted to prevent transfers of Nols but this was changed by paulson so a buyer can purchase WMI to get 100% of Nol value and this is best bet now since WMI has substantial non business assets(cash,convertable securities) which will affect its valuation. If a larger entity buys or merges with WMI the non business assets in the new entity will be less than 1/3 of total assets thus allowing Nol to remain intact due to change to IRC 382. As of now a buyout would be most beneficial to JPM, WFC etc but it must be done before loophole is closed. I suggest all boardmembers take the time to carefully read this whole article. Great info.
Thanks romang.
Once the 10mil + revs quoted in the Oct 8K is sustainable monthly added to the interest from the deposit this company will be viable. Health South's revs were $40mil a quarter or 160mil yearly and look what happened to their pps. With our revs we are lookin at in excess of 200mil so I'm not worried about Wamu. Which company now wouldn't want to be in this position?
All true but if they cancel shares they WILL lose the Nol benefit and that's a fact that cannot be denied. As for people selling shares all at once, this is nothing new since scenarios like this have happened before and will happen again. Remember health south?
MODS: Could u please include the short share count in the ibox which could be updated weekly. I'm sure some of the useless info currently there could be removed to facilitate this.
Tia
No offence but ur math is a little off. That should be 1100 and 5500 days. Wow, I really don't have anything to do today !!!
But isn't Wamu the property of JPM now? Therefore I could infer that this doesn't have anything to do with WMI.
The 28mil u quoted is what they already have invested. They want to sell now to recoup money since some of the venture funds have capital calls which have to be met and if defaulted can affect investment worth. They do not want any additional expenses at this time.
EXACTLY!!!... Sometimes i really wonder if the english language is that difficult to understand to those that speak "English".
Believe me I do otherwise I wouldn't be here. This chit is gettin harder every day to cope with. Glta
There was no bidding!!! Wamu was given to JPM. End of story.
Here ....Here. I'm with you !!!