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.
Post 439777 that I made on Thursday, 10/29/15 12:29:58 PM
Price reflects the uncertainty of the upcoming deadline for the Preferred B shares as well as the lack of a qualified acquisition.
I expected either a qualified acquisition or multiple smaller acquisitions before it got to this point.
The only way out that doesn't require renegotiation of the Series B terms is:
Certain stocks were put into a trial program where the bid/ask spread was limited to $0.05 increments. The reality is MM are able to trade between the 5 cent increments while retailers were stuck with those increments. As far as I know no retailers had their orders filled in the in between ranges.
It's one of the reasons why this was trading 1.10/1.15 - 1.15/1.20 - 1.25-1.30 but orders were getting filled for someone between the bid/ask spread.
It is, was, and forever will be, a horrible idea for any stock.
Hearings were held 6/26 - 6/28.
Findings of fact due.
http://www.kccllc.net/wamu/document/0812229170629000000000002
I don't think it's a scare tactic. It was a legitimate answer to a question brought up by a shareholder regarding listing requirements for NASDAQ and what the board would do to maintain those requirement/s. The board is aware of the current price but at the moment remain unconcerned about delisting.
Should it get to the point where they are concerned, a RS was one such example of a "lever" they could pull to maintain listing requirements.
If that shareholder did not ask the question, there would have been no mention of anything related to RS in today's meeting.
2017 Annual meeting archive will be available until July 1, 2017
2017 Annual Meeting Webcast
Yes he did.
The 2017 meeting? No, the meeting is still ongoing; if you're listening in on the meeting, there's nothing new. It's essentially the same meeting as the 2016 meeting. The questions from shareholders and the responses from the board are essentially the same as well.
As I said, funny and sad at the same time.
Meeting is still going on. You can follow along at http://event.on24.com/eventRegistration/EventLobbyServlet?target=lobby.jsp&eventid=1426640&sessionid=1&key=1BE0A3E16CE58C478FA6BA25551CF809&eventuserid=171545561
Currently it's Q&A.
Try now (new link). You're gonna have to click "Use Template" on the top right before you'll be able to edit.
Did you try the one on the intro? That one should be good to go. Above SEC Filings link and below
Let me know if the link doesn't work.
That standard phrase is found in all of the 10-K's. There is no significance to the word reconciliation. (edited to add) No significance unless you believe hidden assets, *insert *theory*, etc. etc.
Bill48 - optimistically... $30 mil left assuming all disputed claims allowed. Too tired to do the math. It could be 0.
The major things that I noticed from the 10K are below although I might've missed some important stuff.
---------------------------------------
Webcast replay of today's conference call is now available.
http://event.on24.com/eventRegistration/EventLobbyServlet?target=lobby.jsp&eventid=1390472&sessionid=1&key=B2660E6D0469E44622C0179C0EFDF6FC&eventuserid=165723486
Highlights of conference call March 21, 2017:
It was option B - See post 473938 in what this references.
Board of Directors changes
- Eugene Davis stepping down - there will be a KKR replacement
- Thomas Fairfield leaving
- Board of directors will be reduced to 7 members. 4 of which are independent per SEC rules.
Mergers and Acquisitions
- Continuing to look at opportunities and make offers
- No guarantee of merger/acquisition in 2017
- They are not likely to ever announce the failed acquisition target, even when the NDA expires.
- KKR continues to be involved
Shareholders meeting
- June 1, 2017. Proxy info to be sent mid April.
----------------------------------------------------------------
A replay will be available through March 28, 2017 by dialing (800) 585-8367 (U.S. callers) and (404) 537-3406 (international callers) and referencing the conference ID number 87347570.
And
Perhaps through webcast via WMIH Corp.'s website, wmih-corp.com/, under the Investor Relations page
To answer your question: Yes.
What the PR is saying is that you can guarantee that the escrow was/would be used for disputed shares. (Which it has, first distribution was 1.4 million shares from Disputed Equity Escrow.)
What it's also saying is that there is no guarantee of cash (not entitled). There never was. Cash was dependent on allowed claims being paid in full. Senior claims, were left impaired and otherwise was not expected to receive full payment on their claims.
Agreed (for the most part) See post 474148 and post 474190 regarding Disputed Equity Escrow and the press release.
----------------------------
As for DCR, Class 19 and 22 -
It's a misinterpretation of both "hidden assets" and "escrow." It's one thing to suggest hidden assets. It's another to suggest that "separate escrow" is suggesting hidden assets. I suggest that you (and others) read note 4, 5, 6, and 7 in their entirety. Particularly note 7 of the latest QSR (or all of them if you want to see how the details progressed). http://www.wmitrust.com/wmitrust/document/8817600170130000000000001
DCR, Disputed Equity Escrow, Tax Refund Escrow (yes, tax refund escrow is a thing), they are all separate.
See my response to clawmann. Post 474148
+clarification - not likely to be distributed to holders of Class 19 and 22 (equity).
Newflow has highlighted nothing new nor earth shattering.
DCR (Disputed Claims Reserve) is an asset of the trust. The DCR (Disputed Claims Reserve) is not the Disputed Equity Escrow.
Disputed Claims Reserve (DCR) and Disputed Equity Escrow are held in separate accounts.
Pretty much. Other than...
Unfortunately nothing in the 10-K that is all that much different from last year's 10-K.
I just skimmed it though. I'll read it more thoroughly later tonight. If I see anything interesting, I'll be sure to post it up.
Option A, Option B, so on and so forth, take your pick. They are meant to be in conflict with each other.
Option A - We've identified an acquisition target and are in the process of negotiating terms. As such, the shareholders meeting and vote for board of directors has been delayed. Stay tuned for the announcement of the shareholders meeting/vote. Due to the nature of the situation, we cannot discuss the matters in detail due to non-disclosure agreements.
Option B - We have yet to find an acquisition opportunity and as such, would like to use this opportunity to explain why - followed by a whole load excuses. Followed by shareholders meeting/vote announcement or delay.
Option C - So on and so forth. Insert whatever speculation.
------------
Honestly, no clue what they'd say. I recommend that people take some time off and participate in the investors' conference.
Last year's shareholder meeting announcement was April 19th.
March 21, 2017 at 10:00am ET
WMIH Corp. Schedules Investor Conference Call And Webcast
SEATTLE, March 14, 2017 /PRNewswire/ -- WMIH Corp. (NASDAQ: WMIH) ("WMIH") today announced that, in connection with the filing of its Annual Report on Form 10-K, it will hold an investor call on March 21, 2017 at 10:00am ET.
The call can be accessed by dialing (866) 610-1072 (U.S. callers) and (973) 935-2840 (international callers) and referencing the conference ID number 87347570, or through webcast via WMIH Corp.'s website, http://wmih-corp.com/, under the Investor Relations page. A replay will be available through March 28, 2017 by dialing (800) 585-8367 (U.S. callers) and (404) 537-3406 (international callers) and referencing the conference ID number 87347570.
The issue of Tranquility has been mediated, terms agreed upon, plan accepted, payment has already begun. Payment from LT to Tranquility left remaining (as they are part of Tranche 4). I'd consider the issue of Tranquility semi-irrelevant.
Followed by http://www.kccllc.net/wamu/document/0812229111212000000000003
which was approved by the court.
Tranquility under stipulation and agreement approved by the court is considered Class 12 - Allowed GUC and Class 18 - Allowed Subordinated Claim
and as of most recently http://www.kccllc.net/wamu/document/0812229170130000000000002
Class 12 (General Unsecured Claim) which is part of Tranche 4, has approximately $1 million remaining balance (projected - after 2/1/17 distribution)
That filing was followed by http://www.kccllc.net/wamu/document/0812229120216000000000005
Dated January 27, 2012.
Then
http://www.kccllc.net/wamu/document/0812229120201000000000008
Dated February 1, 2012.
-----------------------
Summation - the court approved a stipulation and agreement between WMILT and Tranquility. Tranquility has a claim in Class 12 and Class 18.
It's about Tranquility claim that WMILT objected to and tried to get subordinated. Judge Walrath deemed that Tranquility Master Fund does have a valid claim.
It's also dated December 20, 2011
Not yet. Last year it was announced on April 19th.