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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.
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.
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.
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.
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.
At the rate this BOD is working, never.
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.
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.