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Obviously, "Fair & Reasonable" means making everyone who released multimillionaires?
The Fair & Reasonable statement wasn't meant to just strictly encompass Equity, it was to encompass all parties. Everyone is going to have their own definition of what they feel is fair & reasonable. In the world of Bankruptcy where more than not shareholders are usually wiped out, what we received (as small of a recovery as it may seem) is better than the alternative, which would have been nothing.
(By the way, we were told exactly what we were going to receive for our releases before we signed. Nothing more was "promised". It was message board chatter which gave birth to the never ending theories of promised riches. )
Quit making things up! I sent an email to William Gallagher back in January 2018 and received a response.
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I received a response to my email from William Gallagher.
William Gallagher<william.gallagher@wamuinc.net>
To [omitted]
No
Bill Gallagher
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Email sent. I may not get a response. Can't hurt to ask.
==================================================================
Mr. Gallagher,
Per today's Press Release, the Company "announced that it has completed the dissolution of its wholly-owned subsidiary WMI Investment Corp. ("WMIIC").
As i've stated in a previous email, in a 10-Q report for the quarterly period ended June 30, 2016 the Company stated that it was “beginning the process of dissolving this entity”.
During the time period since the Company's announcement in 2016 of “beginning the process of dissolving this entity” till such time the Company announced WMIIC's complete dissolution was there any assets/cash returned to or passed through this entity?
Thank you,
==================================================================
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137804185
This is from the WMI Liquidating Trust 10-K filed 4/1/2013
Pg. 14
Trust Beneficiaries
"As of December 31, 2012, LTI holders held 2,963 Liquidating Trust Interests. Such holders were claimants in Classes 2, 3, 12, 14, 15, 16 and 21 in the Plan.
If and when distributions from the Trust become available to Trust Beneficiaries who have not received LTIs to date, additional LTIs will be issued to effectuate future distributions. A Trust Beneficiary who is never issued a LTI will not receive a distribution from the Trust.
https://www.sec.gov/Archives/edgar/data/1545078/000114036113014726/form10k.htm
Class 19 & Class 22 were never issued LTIs at any time. The WMI Liquidating Trust has been dissolved. Good luck with continuing to try and find your buried treasure.
Your link says nothing about Class 19 & Class 22 receiving LTIs. You just assumed that.
From the WMI Liquidating Trust - Frequently Asked Questions - 9/20/2017
Pg. 7
http://www.kccllc.net/documents/8817600/8817600170920000000000001.pdf
From the WMI Liquidating Trust - Frequently Asked Questions - 1/15/21
Pg. 15
http://www.kccllc.net/documents/8817600/8817600210115000000000001.pdf
Here's all of the WMI Liquidating Trust filings. Show me.
https://www.sec.gov/edgar/browse/?CIK=0001545078
"If you look at first 8k,LT mentioned that equity was being issued LTIs."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171619507
Show me your link to the 8-K and then i'll show you my link.
"In accordance with the Plan, the Trust will issue LTIs to WMI’s former shareholders if,
and only if, the Trust is able to monetize Liquidating Trust Assets in amounts sufficient to pay-
in-full claims held by beneficiaries of the Trust who are senior to members of Classes 19 and 22, and then, only if a shareholder had satisfied timely all conditions applicable to receiving any such Liquidating Trust Interests."
The waterfall didn't go any further than Class 18, which wasn't even paid in full. The WMI Liquidating Trust was dissolved over a year ago.
What fact are you alluding to, that you think this has anything to do with Equity? I don't care who the "beneficiaries of those LTIs held by those vehicles" are because it's not Equity. You can entertain that idea, i'm not.
More importantly, the bankruptcy has been closed. The WMI Liquidating Trust was dissolved over a year ago.
OMG, you've found the smoking gun!
It was for the benefit of ALL classes. There were other classes above Class 19 & Class 22 (collectively, Equity). The waterfall didn't reach any further than Class 18, with Class 18 not even being paid in full.
Class 19 & Class 22 were never issued LTIs so it's a mute point. And, i don't see the connection between us and Paladin. So, you can choose to entertain that idea.
"Reiko, do you agree that WMI equity interests were transferred to WMI LT, except WMMRC,WMIIC and WMB? .Those three assets which were not transferred to WMI LT were became part of COOP,agree?." WMB did not become a part of WMIH (now known as COOP). And, it's been stated in SEC filings that WMIIC had no assets and no operations.
"Did WMILT liquidate the assets or consolidate?." To my knowledge the WMILT did some consolidation. Here's a post of mine from 2019 referring to the WMILT's June 30, 2017 Quarterly Summary Report. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152158055
So, it should be easy to come to a conclusion that because the WMILT has been dissolved that they apparently liquidated any/all remaining assets and made all appropriate distributions.
What part would you like to be specifically commented on? The WMI Liquidating Trust was dissolved over a year ago.
No, not necessarily. His first reply to me seemed to have a mildly defensive tone to it. I sorta expected it considering my tone in the first email i had sent him. The other replies i received felt more cordial.
(Only his first reply to me was CC'ed to Jay Vieira, a lawyer. The other replies weren't.)
Ron claims that "WMI Holdings Corp (WMI-WA) went private". I provided proof via a SEC filing that stated "WMI Washington has ceased to exist" I sound desperate? It sounds as if Ron is the desperate one. You may be ok with it but i just don't like it when others make up falsehoods.
Do you know that (XXXX) is a sub of (????) ?
Thursday, February 02, 2023 4:19:51 PM
Hey, Ron... WMI Holdings Corp didn't go private, it no longer exists.
"As disclosed below, WMIH Corp., a Delaware corporation (f/k/a WMI Holdings Corp.) (“WMI Delaware” or the “Company”) became the successor to WMI Holdings Corp., a Washington corporation (“WMI Washington”), on May 11, 2015."
"As further described in Item 3.03 below, WMI Washington consummated a reincorporation merger (the “Reincorporation”) with and into its wholly owned subsidiary, WMI Delaware, pursuant to the terms of an Agreement and Plan of Merger entered into between WMI Washington and WMI Delaware on May 11, 2015 (the “Merger Agreement”), which is attached as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference. The effective time and date of the Reincorporation was 8:00 p.m. Eastern time on May 11, 2015 (the “Effective Time”). As a result of the Reincorporation, the registrant is now a Delaware corporation and WMI Washington has ceased to exist."
https://www.sec.gov/Archives/edgar/data/933136/000119312515186101/d924385d8k12g3.htm
Here's his first post that started the conversation.
"~ Money Now Received, Labeled' as an internal block transfer direct from the Wells Fargo Property Trustee into a Wells Fargo Account ... My Own Wells Fargo External Account ~
... Yes, an internal Wells Fargo' block transfer ... Yes, money has now been received directly' into my own external Wells Fargo Account' ... outside of brokerage' ...
Good Luck Everyone'
AZ"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171105880
According to one of MF's emails, the trial was designed for hospitalization not for symptoms.
So, according to the latest Press Release, "Although the Study was originally designed for a ‘hospitalization or death’ primary endpoint, and it completed enrollment of almost three-quarters of the Study’s recruitment goal and recorded specific clinical symptoms (i.e. cough, fever, heart rate, and oxygen saturation), the Study was not designed to take into account all of the symptom assessments and supporting data outlined in the FDA guidelines to warrant a primary symptom-based endpoint for COVID-19 studies."
Which is why they're unable to pivot to the FDA's recommended primary endpoint. Even though the design was for hospitalization they should have assigned it in order to take in all data points to be more thorough.
"He gave examples of other companies that had difficulties trying to get through to the FDA."
The companies he gave as examples were Atea Pharmaceuticals, Appili Therapeutics, CytoDyn, and Humanigen, etc.
Since you asked to keep you posted i've had a few email exchanges with Revive (MF). I'm paraphrasing because i never asked for permission to post the entirety of his emails.
From my original email posted here in which i voiced my disappointment with Revive management...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171514727
His reply was that i should speak to and argue with the FDA because they're the governing body. He gave examples of other companies that had difficulties trying to get through to the FDA. And, shareholders knew the risks.
I responded with "A poorly designed clinical trial is not the FDA’s fault, the fault falls on Revive’s management."
In reply MF stated that the trial was designed with hospitalization and the environment changed.
In response i stated that for shareholder's sake i hope Revive has a good plan for moving forward.
His reply was for me to read the Press Releases.
...a related party, not part.
" In 2021, the Company repurchased a total of 14.8 million shares of its common stock from affiliates of Kohlberg Kravis Roberts & Co. L.P., (“KKR”) a related party of the Company. In addition, in August 2021, the Company repurchased 1.0 million shares of its Series A Preferred Stock from affiliates of KKR. After giving effect to the transaction, KKR no longer held any equity interests in the Company."
What is the big clue?
Look, Wand Merger Corp, (which, at that time was a newly created subsidiary of WMIH Corp) merged with Nationstar Mortgage Holdings (NSM; which should be beyond obvious by now was "Eclispe"). NSM then became the surviving subsidiary of WMIH Corp. (Wand Merger Corp didn't survive)
Eventually, WMIH Corp changed it's name to Mr Cooper Group Inc. (Now, NSM as a subsidiary of Mr Cooper Group Inc)
Correct, AZCowboy has never told 'a' lie, he's told many.
No need to read any documents when we have AZCowboy reading and deciphering them for us. His deciphering skills are legendary, after all according to AZCowboy his “business entails extreme document dissection”. And, it's not like he's ever lied about anything, right?
From the Form 10-K (filed 3/15/2013) you seem to conveniently forget that it has been said that, "WMIIC does not currently have any assets or operations and is fully eliminated upon consolidation. Prior to September 26, 2008, WMIIC held a variety of securities and investments; however, such securities and investments were liquidated and the value thereof distributed in connection with implementing the Plan (see Note 2: Reorganization under Chapter 11 of the United States Bankruptcy Code to the consolidated financial statements in Item 8 of this Annual Report on Form 10-K)."
https://www.sec.gov/Archives/edgar/data/933136/000119312513110149/d445890d10k.htm
And, this has been reiterated in every 10-K since then until WMIIC was dissolved.
One more for you...
Pg. 11
"As a holding company, our only material assets are our cash on hand, the equity interests in our subsidiaries (WMMRC and WMIIC) and other investments. As of December 31, 2012, excluding restricted cash and assets held in trust, we had approximately $92.6 million in cash, cash equivalents, and investments, which includes $15.7 million held by our wholly-owned subsidiary, WMMRC; WMIIC holds no assets."
No, it wasn't.
"As disclosed below, WMIH Corp., a Delaware corporation (f/k/a WMI Holdings Corp.) (“WMI Delaware” or the “Company”) became the successor to WMI Holdings Corp., a Washington corporation (“WMI Washington”), on May 11, 2015."
"As further described in Item 3.03 below, WMI Washington consummated a reincorporation merger (the “Reincorporation”) with and into its wholly owned subsidiary, WMI Delaware, pursuant to the terms of an Agreement and Plan of Merger entered into between WMI Washington and WMI Delaware on May 11, 2015 (the “Merger Agreement”), which is attached as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference. The effective time and date of the Reincorporation was 8:00 p.m. Eastern time on May 11, 2015 (the “Effective Time”). As a result of the Reincorporation, the registrant is now a Delaware corporation and WMI Washington has ceased to exist."
https://www.sec.gov/Archives/edgar/data/933136/000119312515186101/d924385d8k12g3.htm
It goes beyond him not knowing, he's simply making things up.
WMI WA is in reference to WMI Holdings Corp, not WMIIC.
WMI Investment Corp. (WMIIC) was dissolved on January 18, 2018.
In order to find the pot of gold at the end of the rainbow you need to expertly dissect every word in order to find it's hidden meaning. (sarcasm)
The "other instruments" could be referring to the Escrow CUSIPs.
WMI Investment Corp. (“WMIIC”) wasn't “eliminated upon consolidation”, it was dissolved. (+5 years ago) It no longer exist.
"On January 18, 2018, WMIH Corp. (the “Company”) announced that it has completed the dissolution of its wholly-owned subsidiary WMI Investment Corp. (“WMIIC”). Earlier today, WMIIC filed a Certificate of Dissolution of WMIIC with the Office of the Delaware Secretary of State. The dissolution of WMIIC was effective immediately upon the filing of such certificate.
Prior to September 26, 2008, WMIIC held a variety of securities and investments; however, such securities and investments were liquidated and the value thereof distributed in connection with implementing the Company’s Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code. As such, WMIIC did not have any assets or operations at the time of its dissolution."
https://www.sec.gov/Archives/edgar/data/933136/000156459018000606/wmih-8k_20180118.htm
https://www.reddit.com/r/RVVTF/comments/121xidv/request_for_presentation/
If you care to simply put aside at what's being requested, BMT does have some good thoughts on how to proceed forward.
But, compared to Revive (RVVTF) unless i'm wrong RLFTF's outstanding shares are in the billions?
By the way, i agree with Biomedical Trader who stated a few days ago that the only good thing that can happen at this point is for Revive to partner with a company who knows how to take a drug to market.
Unfortunately, i agree with you. I'm not expecting a response from Michael Frank but this is what i sent to him today.
===================================================================
Mr. Michael Frank,
Per the latest Press Release…
“After a further in-depth review and analysis of the FDA recommendations with members of the Company’s clinical trial team, including its statistician, regulatory affairs, medical affairs, and clinical research advisors, the Company has decided that in the best interest of the Study to preserve and not compromise the integrity of the Study and keep the blinded data intact to support a potential FDA approval in the future. As such, the Company will remain with the current Study protocol’s primary endpoint of proportion of patients meeting a composite endpoint of hospitalization or death from time of first dose through Day 28 following randomization.”
It would appear that the clinical trial with it’s current primary endpoint is essentially ‘dead in the water’ because the current primary endpoint is essentially outdated and it’s apparent that Revive can’t pivot to another meaningful primary endpoint that would meet the FDA’s guidelines. For someone who explicitly became a shareholder in 2020 based solely on Revive initiating this Phase III trial, it’s an understatement for me to say that i’m extremely disappointed with Revive’s management, more so when i’m looking at my unrealized +90% loss.
The best hope that shareholders have at this point is for Revive to do a deal, collaboration, or a partnership with a bigger more experienced pharmaceutical company who could then try to help salvage this trial and navigate Bucillamine through the FDA approval process.
XXXXX XXXXXXXXX
Revive Therapeutics Shareholder
(By the way, do you believe the individuals who participated in Revive’s Offering months ago are just as extremely disappointed when looking at their +50% loss?)
===================================================================
Just more fiction created by you. WMI Washington no longer exists.
"As disclosed below, WMIH Corp., a Delaware corporation (f/k/a WMI Holdings Corp.) (“WMI Delaware” or the “Company”) became the successor to WMI Holdings Corp., a Washington corporation (“WMI Washington”), on May 11, 2015."
"As further described in Item 3.03 below, WMI Washington consummated a reincorporation merger (the “Reincorporation”) with and into its wholly owned subsidiary, WMI Delaware, pursuant to the terms of an Agreement and Plan of Merger entered into between WMI Washington and WMI Delaware on May 11, 2015 (the “Merger Agreement”), which is attached as Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by reference. The effective time and date of the Reincorporation was 8:00 p.m. Eastern time on May 11, 2015 (the “Effective Time”). As a result of the Reincorporation, the registrant is now a Delaware corporation and WMI Washington has ceased to exist."
https://www.sec.gov/Archives/edgar/data/933136/000119312515186101/d924385d8k12g3.htm
Your deceptive information is poison which is why i believe you were banned from Boardpost. InvestorsHub should take notice as well and take the same approach.
I can think of something that is more unethical and immoral. I'm sure i don't need to tell YOU, and i'm sure your many followers know what that is.
I read the document when it was filed in 2018. Project Eclipse is Nationstar Mortgage Holdings (NSM). The merger happened and was completed in 2018. This Project Eclipse document has nothing to do with, according to Cura Asada, any "Final Distribution to Escrow holders".
Isn't the source's news from 2 years ago still good today?
"In late 2019 Plaintiff received information from another Legacy Holder in communication with an employee of a major securities broker (the “Source”). The Source stated that when Plaintiff’s federal appeals are finally adjudicated and the Trust dissolved, Mr. Cooper will distribute Mr. Cooper Stock to Legacy Holders. The Source stated that defendant Mr. Cooper is in possession of approximately $550 billion in mortgage-backed securities and/or mortgages owned by WMI or the Trust (the “MBS”) which assets are subject to interests of Plaintiff and other Legacy Holders.
In early April 2021 the Source stated that all the MBS would be given to Mr. Cooper by June 30, 2021 and that the Mr. Cooper Stock disbursed by various brokers. The Source further said that Mr. Cooper was obligated to report receipt of the MBS in its ’34 Act filings in the same quarter as the date of receipt but did not do so while Plaintiff’s Third Circuit litigation with the Trust survived and is planning to disburse the Mr. Cooper Stock regardless of the Final Decree. The Source was told that: “Griffin will be surprised.” The Source indicated that Mr. Cooper’s management was very anxious about fulfilling its ‘34 Act regulatory reporting requirement with respect to the MBS. The Source also indicated that the value of the MBS had increased to about $600 billion.(4) (The current value is unsurprising given the total MBS retained by WMI in its securitizations through 2008 totaled approximately $135 billion according to archived WMI ’34 Act filings.) Further, the Source stated that in addition to the Mr. Cooper Stock, Legacy Holders will contemporaneously receive a cash payout of 2.5x par.
The Source further revealed that circulating within his/her enterprise was an internal memorandum listing the names of Legacy Holders, their holdings, and indicating these persons would be treated as private wealth clients rather than retail clients once they received the Mr. Cooper Stock."