Elah Holdings Inc fka RELYQ (ELLH)

[value1008]

I bought 16.5k shares of RELYQ yesterday at avg. cost basis of $0.304.

Right now i'm keeping my position small, because there's a lot that still needs to happen before this play is "in the clear" and moving forward on what will be the main future project: acquiring one or more profitable cos. that can make use of the colossal NOLs here.

But before that can happen, just read the list of possible risks and glitches in the Forward Statements from RELYQ (Real Industry).

Yes, yesterday Judge Kevin / the Court approved the disposition of subsidiary Real Alloy, but there are still A LOT of things that have to go smoothly before we are in the clear with new shares trading and all of the old liabilities and possible objections from 3rd parties cleared away.

From section M. of document #647 on the docket at PrimeClerk.com website
https://cases.primeclerk.com/realindustry/Home-DocketInfo
comes info. indirectly indicating there will be a big REVERSE-SPLIT (notice the smaller # of authorized shares and projected outstanding shares; and notice that there will also be issued preferred shares that have seniority over common shares)....

[From p. 19 of doc #647:]
M. - Cancellation of Interests in the Debtor and Issuance of New Common Stock in the Reorganized Debtor.

At 4:00 p.m., prevailing Eastern Time, on the Effective Date, all issued and outstanding (a) capital stock (including Common Interests and Series B Preferred Stock), limited liability company interest, partnership interest, equity security (as defined in section 101(16) of the Bankruptcy Code) or other ownership, beneficial or profits interest of the Debtor, and (b) option, warrant, security, stock appreciation right, phantom unit, incentive, commitment, call, redemption right, repurchase right or other agreement, arrangement or right of any kind that is convertible into, exercisable or exchangeable for, or otherwise permits any Person to acquire, any capital stock (including common stock and preferred stock), limited liability company interest, partnership interest or other equity security or other ownership, beneficial or profits interest of the Debtor (whether or not arising under or in connection with any employment agreement), including any Warrant/Option Contract, shall be deemed cancelled pursuant to the terms of the Plan and Confirmation Order without the need for any further action on the part of the Debtor, the Reorganized Debtor, the Holders of Series B Preferred Interests, the Holders of Common Interests, or their respective agents. Immediately thereafter, shares of New Common Stock issued by the Reorganized Debtor shall be deemed issued to the applicable Holders of Allowed Series B Preferred Interests and Allowed Common Interests in Class 5 [common shareholders] as provided for in Article IV of the Plan as of 4:00 p.m., prevailing Eastern Time, on the Effective Date. For the avoidance of doubt, as of the Effective Date, the total number of (x) authorized shares of New Common Stock in the Reorganized Debtor shall be 5,000,000, (y) issued and outstanding shares of New Common Stock in the Reorganized Debtor shall be approximately 1,481,250 if Class 5 [common shareholder group] votes to accept the Plan or approximately 1,851,563 if Class 5 votes to reject the Plan, and (z) authorized shares of Series A Preferred Stock shall be 5,000.
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--Some shareholders get all creeped out by Reverse Splits and any mention of "shares cancelled.... new shares issued" and so RELYQ may experience some further selling pressure.

Speaking of selling pressure, despite yesterday's great news from the court approving the divestiture of the Real Alloy assets and liabilities (remember though that this divestiture and sale of Real Alloy to the buyer is NOT YET A DONE DEAL!), and all the interesting documents filed with the court (several hundred pages combined!! --documents #647 and #648 are especially relevant for us), notice that the stock only barely moved up by end of day.

It's obvious that there are still LOTS of shareholders who want out, and so the stock may experience weakness over coming days.... Anything that goes very wrong with the BK process may plummet shares to terrible lows.

I say all of this just to temper any "irrational exuberance."

I'm benefiting tremendously from the PIOI/PIOE play and white-knight investors Robert Alpert and C.Clark Webb of 210 Capital.

And I'm interested in RELYQ and bought shares yesterday because of these guys' track record with PIOE.

But even there i waited until PIOE's acquisition of RCP Advisors and several days of further DD (thank you, Doncamel, for a lot of that!) before buying my majority of shares of PIOE.

Thus, my own opinion, for what little it's worth, is to advise caution here until the picture is much clearer....

Yes, take an early position here if you like, but have it be with money you can afford to lose.