Mr Cooper Group Inc (COOP)

[fsshon]

As I have stated previously, the IRS for accounting purposes takes the CG group and makes it a 5% owner under the terms of IRC 382. But in our case, the 5% owner group (CG) owns 92.5% of the equity that controls the NOL's. This CG must stay in control of 50.0001% of the equity in the corp.

The rest of it does not apply.

KKR warrants are considered outstanding stock to the IRS for tax accounting purposes and an asset to KKR and liability to WMIH.

Preferreds, unless exercised or only "voting pref's for BOD purposes."

Remember the CG is the "measurement group."

All of this, is only a problem, only if and when the preferreds convert to equity, until then, nothing happens with the equity.

Some on here feel that the CG will give up the WMI Trust assets for the shares, it would not be illegal, so it is plausible, because they own the WMI Trust assets. I RS would consider the value of those assets as a gain to all escrow holders (CG)

Don

Don