Mr Cooper Group Inc (COOP)

[bkshadow]

JWW, it is a convoluted presentation, so let's...

...take a look at the pieces for Appaloosa.

...first, NASDAQ 13F filings show what is reported for beneficial owners under various classifications reported with overlap in entities for such.

...it's not a very good presentation format.

...here is what is the TOTAL 16,902,465 of the holdings that really exist, without overlap, are.



...then, we look to the prospectus items that you note, and your correct note about the MATH equally the PRE versus POST Series B conversions and the ending column.

...again, as with the 13F SEC 13G/A's, we need to look at ALL of the entities without overlap.

...the problem, IMO, is in the column Shares of Common Stock Owned Prior to the Offering.

...the overlap; you can't combine all those for all of the Tepper reporting entities as they don't own such.

...however, if you look to the right to the column Shares of Common Stock Owned Following the Offering, that number is not on a beneficial control basis; rather WHAT THEY ACTUALLY OWN.

...which really is what should be in the first column noted above because it is also the actual common shares owned PRE.

...so, combine them all.

...16,902,465.

...messy, but if they would have required two columns at the beginning of beneficial control and actual holdings, we wouldn't have such problems with the stock trail.

...look at the right for the Tepper entities; ADD them all up.