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It doesn't end. If an ownership change occurs, there will be a testing period in which there can not be another or else the NOLs will be significantly reduced to close to nothing. If another ownership change does not occur within that time frame, you are allowed another ownership change, which in turn, causes another testing period. And it goes on and on in that manner.
They haven't wasted ANY time on WMI because basically they haven't done anything with it. No capital deployed, nada. Probably isn't worth spending time on.
That's not how warrants work. KKR is already "given" shares at $1.43, no matter if the price is $0.50 or $50.00. Now, why would you execute warrants at a lower or similar price that you're given? There's no profit to be made. KKR would only execute the warrants at a higher price than the $1.43, similar to that of an option call.
Yes jhd but what I do know is it's been 3 years and not even one acquisition, one!
Yep and we're not one of them. The BOD is sitting on their hands, amateurs.
We're all going to die of old age waiting for this $&@$
I pray each day for escrow payment with LG's and AZ Cowboy's DD coming to reality.
That's the billion dollar question. Inexplicable how this became a big POS.
If you've been following the WMI (Wamu) saga, we were left with substantial NOL's as well. It's been close to 3 years and still not even one acquisition to offset the NOL's and generate value. Having NOL's are one thing, knowing how to make use of them is another and it is all about having a knowledgeable, well connected, equity friendly, BOD to create opportunities. Unfortunately, WMI has a loser BOD.
Why are we excited about $110 million again?
Willingham and the BOD are prepping for another stock grant. Milk men.
It takes time for these situations to mature
There is still something to milk...
When you have a dud for a chairman and idiots on the BOD, you really have no choice but to stay positive to really stop yourself from pulling your hair out.
I second that. Willingham is horrible. Then again what would you expect from a small town guy that doesn't know what he's up against?
Willingham, the BOD and the LTAB are MILK men.
You know what I don't get is, WTF is $150M really going to do? Buy some car washes? Maybe throw in a few nail salons, some restaurants and a number of grocery stores while they're at it?
Not so sure about Willingham's capabilities or intentions.
Though I'm hoping to buy back in before 2015
Willingham and the rest of the BOD, one word, garbage! WMI really is portraying itself like a illegitimate penny stock, especially with that $20 website.
One can say, 'Well I got in at say .45 and now it's up over 300%'. Yes, but after 6 years of going through this Bankruptcy I actually require more
Just one SMALL step in the right direction!!!!!!!!.
Drop is due to a stock grant soon. BOD will not be able to help themselves. LOL IMO.
Doesn't matter how many percent of recovery it is if the recovery is 0.
That was for the GSA but did we withdraw ourselves as a creditor for POR7?
Why is everyone hanging their heads on this "fair and reasonable" line? Willingham said that so we could sign the releases. He duped shareholders into doing what he wanted, plain and simple. I mean, come on, 2.5 years with nothing??? Even someone with half a brain could find something worthwhile in that timeframe.
I bet you Mike doesn't even know what the hell he is doing.
No acquisitions in 2 1/2 years is not acceptable.
At the rate this BOD is working, never.
I am sick of reading posts saying WMIH is the only thing and we should forget about escrow and we're lucky we got anything because 97% of bankruptcies yield nothing.
We DO have WMIH and saying we were lucky to have anything is just a poor way saying we shouldn't be complaining about what we do have, no matter what the reason. And this is an open board - not a place to lure new buyers into buying WMIH. And neither should the corporate web site have that function. It is for the BOD, sales, potential M+A, other corporate PR's, etc to have that responsibility. And because the BOD is totally silent about EVERYTHING the result is extremely low daily volume, uniformed potential buyers and MM"s manipulation in order for them to earn the most money for themselves.
If someone wants to give their opinion - of course that's fine. But do not tell me (or all of us as a collective unit) what this board should or should not focus on.
As I have said - WMIH IS something to worry about IMO.
- We gave half our company to KKR without knowing anything about their agenda.
- There hasn't been a single M&A yet - the 2 year limit has passed.
- The BOD communicates NOTHING at all to us.
- Phone calls (by me) to corporate headquarters have been useless.
- The PPS is now in a free-fall - after being static for over a year. It is (still) at 2013 levels.
- We are still on this crappy exchange, where anything goes.
- We're up 400% if you use an artificially low PPS as the starting point.
- KKR - the merger experts have produced nothing for us - but now we have to wait until 3, not 2, years transpire.
and --
- The BOD does nothing to create informed potential buyers.
- The BOD has their own agenda - at least some of them do
- The BOD has created conditions which enable the MM"s drop the PPS freely.
- There is no news about ANYTHING - about the PA&A, escrow, a business plan, possible potential M+A (they don't have to name names)
Now 2.5 years have past and the PPS is up 400% - if you use an artificially created starting point. The fact that our money has been tied up for 6 years is a loss in itself.
Please, all I want is the right to post on WMIH or escrow or on the politics of it all.
Once the numbers are nailed down I would expect that letters would be forthcoming. When this will be is the question.
MW and the rest of the useless BODs are out by June anyways. I'm definitely voting all their asses out! I don't care if they're the best BOD we have because of their familiarity with WMI as they've had all the time in the world to make something significant happen. If nothing happens soon, their time is done since I'm prepared to lose everything and would rather do so than to have those useless fools drag this on any further.
- the existence of escrow accounts is not proof of squat
I think the PPS is down because it's been 2.5 years since we've exited BK and MW and the BOD are morons that can't put a deal together.
But that's correct though isn't it? P/E or 2.70/0.04 ~ 67.5, no?
Did they? I'm not seeing it.
Speak for yourself. It's been too damn long.
Good lawd! What the heck are the BODs waiting for??? Pull the damn trigger you incompetent fools!
They're escrows, totally separate entity. It has nothing to do with the other.