United Development Funding IV fka UDFI

[Jh5142]

I don’t fault the SEC for moving to deregister for the lack of filings.

The SEC and FBI have had full access to all of the files for years now. They chose to agree upon a relatively minor financial settlement and left existing management in place.

When they made the financial settlement last year they should’ve put a deadline for management getting current on Filings if they wanted to remain in place.

Or, if there are substantial portfolio losses, then they should have not settled and pressed further charges.

The SEC could have found a better way to manage this ordeal. Instead we have the current management team keeping everyone in a state of limbo for what appears to be indefinitely.

In my opinion, the only way the SEC comes out of this looking OK, is if there is substantial portfolio value with minor impairments overtime. Otherwise they were far too weak.