United Development Funding IV fka UDFI

[Phaedrus77]

It’s obvious there’s been a pretty big seller (relatively speaking) lately. Most of the volume the last few weeks has been at the bid. Could be someone that bought in after the VIC writeup and is tired of waiting on the financials.

I called IR last week and they had no update on the financials. The lady I spoke to was completely clueless. I’d called before and spoken to someone else that was actually helpful...luck of the draw, I guess.

Based on the recent addition to the board (an accounting guy), my complete guess is that they are having some kind of disagreement with the auditors, and that’s why it’s taking so long.

The recent dividend, debt paydown and SEC settlement all argue against a ponzi scheme. Not to mention that a ponzi scheme typically isn’t still in business 4 yrs after it’s uncovered.

Hollis and company can’t be booted fast enough. At this point I’d vote for liquidation over the status quo.