I spoke with IR today. I was told to expect a letter to investors in the next 45 days that will outline the future, or future options. Possible options: 1) Partner with another fund; 2) As loans mature, wind down UDFIV (other funds may be sold off and liquidated sooner); 3) sell all loans as a bundle to a firm or other investing group; 4) It is also still possible to get financials in order and have the fund relisted. NLT the end of the year, one of the above options will be chosen, but not necessarily executed. Part of the upcoming correspondence should include book value of the shares. They hyp the new leadership as turn around artists (New CEO is a West Pointer and has been employed as a strategist for the last 6 years at UDF). I have doubts about all of the above due to our prior experience, but thought I'd pass on what I heard today.
