Syncora Holdings Ltd. (fka SYCRF)

[Lincoln72]

From Conference call:

Fred Hnat:
"We’ve got $32 million of cash. We have some physical assets that are held by Pike Pointe Holdings and the 80% interest in Swap Financial. So we’re going to be focused on monetizing the non-cash assets at Pike Pointe. The main asset there is the Chene Street property, a waterfront property in Detroit that we got through a Detroit bankruptcy. Swap Financial, which we own this 80% interest, it’s a very stable business. It’s a source of taxable income for SHL, the benefits from the NOLs. And we really have no plans to do anything different other than to continue to hold that very stable asset."

David Grande:
"Yes, couple of points to make on that. Before I do so, I just want to also mention, Fred, you had referenced the Detroit real estate property that you called the Chene Street, which is the name of the remaining development option that we have. I think I mentioned this in the past, but that particular property is off balance sheet right now. We haven’t taken credit for any of that on our balance sheet. Just want to mentioned that, something I had mentioned before, but I just want to make that clear"