.... Donotunderstand ....
I'm glad for you and hope things end up working out for you as you had originally planned ....
In my opinion, making a statement like
"The first to pay well will be the H - fact"
is a bit strong, since I don't see that as a literall fact .... but what ever .... since the piers are maximized at 250m according to the plan and all we see now is the interest variable, I think recently it showed them to be at 236m something ....
I'm more in the BlueeFox (Don) camp as that's what I did at the end March 2012, was in lieu of buying piers, I simply added more P's just prior to transition ....
I felt that posting this information from the prospectus, that I hope all piers purchasers would have reviewed, .. prior to an investment, .. was quite relevant .... it appears to me that it portrays exactly what is currently going on with their lack of distribution ..... "Tax Ramifications and so far NO CASH" ..... I surely hope that you took this possibility into consideration at your time of purchase ....
Once the company can account for the Tranche 4 piers required 250m in a reserve account, (gettin' close), .. don't think for a minute, that the company can not move on down the line while they work out issues regarding these particular redeemables ..... just sayin' .....
It appears to me that your ...."fact" .... statement' is not supported within the actual security prospectus, .... I know many believe that to be a fact, however .... please read below as I have provided .... good luck to you ....
I'm also kind of a serious guy, so I am hoping that your comment regarding giving me your Trust Markers was typed in humor .... that gesture, would also not be a true possibility .... not "factually" possible, if you will ... and even though I would thank you for the generous offer, .... I'm doing quite well ...
AZ
"Regarding Preferred Income Equity Redeemables .. (Piers); The debt securities generally have a deferrable interest clause that allows the company to defer distributions for up to five years at their option and for any reason but not beyond the maturity date. A distribution deferral will generate a very unpleasant situation for the preferred holder as the tax laws require the holder to pay taxes on the deferred but accruing dividends even though the holders is not receiving any cash."
