Hmm. A quick few questions, and a small concern.
You have mentioned the $27 ish as being the "Tell". This triggered something that I seem to remember reading in a document associated with the "P's".
I believe there was a conversion option for converting the P's to Q's if the stock price sustained 120% of a nominative value over 30 or so days (this is from memory, I would have to go back and find the doc to post accurate numbers). Anyway, at some point, I tried to calculate what the 120% of the stock price would be, and came up with a number almost exactly equal to $27 and some change. So with that in mind, is that what this "tell" is? If the stock does hit the "tell" price are you figuring on WMI initiating the conversion of our P's into Q's? If so, I have a few further questions and would like your opinion. Of course, my supposition may be flawed, in which case these questions are moot.
1) If this conversion to Q's takes place, does it add to our existing WAMUQ total, or would these exchanged into COOP shares?
2) If this conversion takes place before the end of the year, does it affect us getting any potential returns / dividends that we would have gotten for the P's?.
I ask because if we no longer have P's before an annual REIT payout, then where would this dividend money go? To WMIH? Or would it still go to people who held the P escrow cusips for all these years? I am assuming of course that there is some separate REIT Cap Trust linked to the P's that has been accumulating for us during the interim bankruptcy (as opposed to the one for the Q's).
Thanks for any insight you can provide.
