thank you for posting such an informative article which clearly demonstrates why shldq shareholders will not be saved by transform holdco. what's your agenda? on the one hand you seem to be cheer leading the stock while on the other hand you re-post an article which clearly has nothing to do with the shc/transform holdco transaction while pretending it does. are you really short this stock?
this doesn't have any relationship to what has happened among shc and its subsidiaries and transform holdco.
first of all, transform holdco purchased substantially all of the "go-forward" assets of the selling company. your example states the only real asset purchased was receivables.
second, there is no continuing business relationship between transform holdco and shc and its subsidiaries.
this is NOT a situation in which transform holdco is the "holding company" and shc and its subsidiaries are the "operating companies". the benefits of the nols and tax credits will be realized over a number of years while the asset purchase agreement establishes that shc and its subsidiaries will be wound down and liquidated within three taxable years after the closing date of february 11, 2019.
shc and its subsidiaries which are still trading on the otc under the symbol "shldq" are divorced from transform holdco.
third, the nature of the 363(f) sale to transform holdco is the transaction which insulated transform holdco from any of liabilities of shc and its subsidiaries. look at the caption on the order from judge drain approving the sale.
transform holdco has already stated that while it is a private company owned 100% by lampert, it might in the future go public. in the event transform holdco issues stock in transform holdco entity, this securitization would have nothing to do with shc, its subsidiaries, or shldq stock.
think it is important to remember that lampert has stated he intends to do things with the assets he purchased which shareholders would find distasteful. that would indicate he has no immediate intentions of securitizing the assets he purchased from shc and its subsidiaries.
so once again, thank you. i hope the board will read and understand the implications of the article you posted twice!
