Tax Question

I am trying to do my taxes and I have two questions.

1) Once my previous WAMUQ shares were converted to WMIH shares, how do I report that to IRS?

2) If I sell any of my new WMIH shares (coming from previous WAMUQ shares conversion) how do I calculate my loss amount? Most likely it will be a lost because I bought WAMUQ before it went to Bankruptcy.

If anyone can answer any of these questions it will be greatly appreciated.

Thank you
Climber

This news is Nothing to do with WMIH or WAMUQ or WMI.

Climber

Thanks for the info hardasset.
What is the court on March 13, 2013 about?

Best
Climber

Thanks Monica.
If the proceeds will go to our ESCROW accounts why the WMIH sahres are going up? One cannot buy or sell anymore of ESCROW shares, right?

PS: Proving the Fraud part seems like a very long shot.

Happy Holidays.

Climber

What is the GS hearing about?
Who is suing the GS?
(after following WaMu for more than 3 years I have not checking the board lately).

Best to all longs
Climber

WMIH (and WAMUQ) have never ever been halted since the BK !
It will NOT be halted.
Why would it be?

Best to all longs
Climber

Monica
Thanks for the info.
I've been holding my shares more than 3 years now before the seizure but I do not check the board often anymore after the unfair reorg. plan for the equity!
Best to all longs
Climber

What was today's court about?

Thanks
Climber

My guess is 0.49. EOM.

Keep dreaming!

"Or will they transfer the WaMu Backbone back to it's rightful shareholders? "

Climber

Catz

Thank you so much for the well informative post.

I was thinking of selling all of my WMIH shares and end this 3+ years of waiting and pain period but I was afraid to loose any rights from the future litigation proceeds. This question was bugging me for a while.

I got my answer. Thanks again.

Best to all longs.
Climber

Question to the Board:

If I sell all of my WMIH shares and some payments comes up for the old WAMUQ shares we had in the past (due to whatever the reason is) am I going to be eligible to receive those payments?

Anybody has any ideas?

(In my account the number of my old WAMUQ shares still shows up with an "N/A" next to it but if I sell my current WMIH shares I am afraid that I will loose those and any rights to future payments might come to WAMUQ).

Thanks
Best to all longs
Climber

Do you mind telling me what came out as a new evidence in the last days?


Thank you
Best to all longs
Climber

I am not sure what that new info about but if it is about the WMBfsb that was discussed many times during the last 3 years here and I am sure that it was also discusses by the lawyers in the court.

Now, do you really think that all the rulngs will be cancelled based on this whatever new evidence is?!?!?!?

I have not been following but everybody should be careful about the pumpers that we have senn many many times for 3 years here.

AIMHO

Best
Climber

It is absolutely NOT that simple for those of us holding this more than 3 years now!

Tell me that after 3 years of nothing!

I have not been following WMIH lately after following WAMUQ for more than three years without any good news at the end. Therefore, the comments I will make below is about what I remember from the previous WAMUQ discussions.

I thought that NOLs are 20% to 30% of those numbers. And a company first needs to make a lot of profits to take advantage of those. I think, all oldies here remember these. And also some people for discussing that there has to be some certain time period (2 years?) has to pass untill WMIH can be acquired by some another big company. So, there is a lot of time to wait for those "educated" investors to capitilize on those NOLs. Instead, they may choose to just get the $1B (I have no idea where that number came from), invest on something else and make profits from other companies.

Who knows?

But at this point, after loosing $50K on pre-seizure WAMUQ, I am not even investing one cent on this!!

I would recommend everyone NOT to get on the band wagon of certain pumpers on this board! Remember that WMIH right now $0.55/pps is equal to about $0.018425/pps of old WAMUQ!!

Moreover, remember the old numbers stated on the board? $24pps of old WAMUQ??? That corresponds to $716.45/pps of the new WMIH!!!!! What a joke!!

Best to all longs.

Climber

Monica

I do not remember that I filled out any Claim forms last year. I guess it is too late to submit one now right?

PS: I was following the board closely last year and a year before but I do not remember any discussions about this Claim forms.

Thanks anyway.

Climbe

I bought shares before BK as wel lbut I have not received any check yet?

Is it any significant amount? $?pps??

Thanks
Climber

With respect to all longs I do not believe that WMIH will ever trade at that range. We have been in this for a long time, more than 3 years, a month before the seizure in my case.

We all now waiting that the 2-year period is over so that WMIH can merge with another company for her big NOL values... And in the mean time WMIH is currently trading at about $0.018/per WAMUQ shares!!!! I think it is the lowest level ever for the last 3 years. Go figure!

I am getting the feeling that the long waiting merger or buy-out by another company will be also done behind curtains and we'll get nothing again...

Well, I am going to sleep on it for 2-3 years thinking it as a lost investment. If it turns out that it trades $10/share after three years well I am still loosing a lot of $$s on this. (For me if it trades around $30/share than I am even!!)

So, I do not want to loose any more time on this.

Good luck to all longs here. I really appreciated and respected well educated posts from several of you. I wish that they had turned out to be correct.

Best
Climber

It is just plain wrong! I think it is kind of a glitch of a computer prog of yahoo finance which was considering data since 2008. It is wrong because it also states that (toward the bottom):

"
..........
Total Cash (mrq):12.29B
Total Cash Per Share (mrq):7.23
Total Debt (mrq):89.24B
..........
"
mrq = Most Recent Quarter (as of Jun 30, 2008)

Best
Climber

Radium

I like your post. I am not totally agree but anyway. What do you think the buyout price will be after ~2 years?

Just curious. I have seen many numbers in the last about 3 years so far.

Best
Climber

Totally agree. It has been just waste of time!

$17B NOLs misleading. Usable NOLs are in the range of $3B to $5B. There were a lot of discussions on this 1 or 2 years ago here. it looks like the stock is not moving anywhere to me. I should say that after 3 years it is a BIG disappointment for me and probably all the other pre-seizure holders.

AIMHO
Climber

Uzual,

I respect your posts but I think you are wrong.

For three years nothing has happened just because a 3-day weekend, Thanksgiving break, Christmas Break, etc. etc. any special holiday is coming. And nothing will happen.

This baby will sleep for several months until it is acquired by another company. Let's do not forget WMIH virtually do not have any business to make large profit $s. The only thing it has is several billion dollar NOLs. That is it.

AIMHO.

Best
Climber

What is the book value?

Just wishfull thinking or dreaming, take your pick.

I honestly think that WMIH is not worth $10B now.

NOLs?

They are for future earnings. You need to first make $10B profit from a business to take advantage of that. And some say NOLs are around $3-5B.

Others that you listed... It is over. They are gone. I do NOT think we will get those.

Some people were saying for 3 years $24++ pps!! See what we got. Now some are calling huge numbers , $10, $30, $50pps....!!??!!! Even JPM currently trades at $45pps.. So we will be better than JPM without any reala business!??!?!

Do you honestly believe that??

AIMHO.

Best to all longs
Climber

This is ABSOLUTELY redicioulus!! Please stop pumping!

$50pps for WMIH means that the company is valued at
$50pps x 200M shares = $10B!! That is a 10 Billion!!!

Climber

Pump and Dump Operation!!

Nascow, I totally agree with you. Some people are trying to play the same game again here for WMIH. They played the game many times for the old WaMu!

So watch out for these games!

Best
Climber

It is too early to tell but let's see...
I got 1675 WMIH shares for my 50K WAMUQ shares, so conversion rate is 29.8507.

If this stock stays at $0.70 then for the previous 1 WAMUQ share we are "currently" getting 0.70/29.8507=$0.0235 !!

We'll before WAMUQ vanished I sold about 40K shares at $0.0367..
And some people even sold at higher. i guess they did a good job.

Well anyway.. I do not expect too much in the short term..

Best
Climber

I have two "N/A" in my account.

One is for 50,000 (I had 50,000 wamuq shares before)
and the other one is 1675.

If this is the number of the new shares will be getting than the conversion rate is 50000/1675=29.85075

AIMO

Best to all longs
Climber

Yes, or it can be valued at $100B and ten $500 per share !?!?!?!

Common let's get real!!

I agree.. $5 even would be too much.. May be in looong term.

$50!! You MUST be kidding, right?
Even JPM does not sell at $50pps.....

Thank you all for sharing my pain when I bought this stock only two days before the seizure and lost big!!

We'll all wait and see if the WMI2 shares will worth anything!!

Best to all longs

Climber

Thank you all for sharing my pain when I bought this stock only two days before the seizure and lost big!!

We'll all wait and see if the WMI2 shares will worth anything!!

Best to all longs

Climber

Unfortunately, that letter has no credibility since the author wants to remain unknown. He/she is not giving his/her name.

If someone from the higher rank in JPMC comes out and openly talks about these issues then may be something happen. But with this letter nothing will happen. Anyone can write a letter like that and submit it.

AIMHO
Best
Climber

How about the ones who did NOT tender their shares?

The reason is:

"What if ......."

Fill the rest yourself as you like.

AIMHO

Climber

Your shares should be locked now if you gave the releases. So, I do not think you can sell them anymore.

Best to all longs
Climber