Hudson Global Inc (HSON)

[Event Driven Investor]

The merger between $HSON Hudson Global est. $200M Gross Revenue and Novation Companies Inc. $NOVC only operating unit www.healthcare-staffing.com HCS est. $55M Gross Revenue would produce a quarter of billion tax free public company thanks to $NOVC $730M NOLs.
This would be like Fortress' restructuring $RITM Rithm Capital formerly New Residential Inv Corp $NRZ out of Newcastle Inv Corp $NCT (along with 2 other tax-exempt MREITs New Media now $GCI formerly and $SNR New Senior sold last year for Billions). Fortress after spinning out 3 MREITs from Newcastle $NCT changed name/symbol to $DS Drive Shack which retained 100% of $NCT $160M NOLs (see Dec 2016 Wesley Edens Presentation to $DX shareholders pg 11). MREITs are tax-exempt under internal revenue code IRC. Mr. Wesley Edens was also pleased with the restructuring of Nationstar which he and Peter Briger merged $3.8B with Mr. Cooper $COOP (17% owned KKR) formerly Washington Mutual $WAMU aka $WMIH inside Ch 11 retaining $7 Billion NOLs from $COOP. Fortress restructured AIG Subprime calling it $LEAF which adopted name $OMF One Main after buying Citi Bank Subprime lending unit. Fortress sold their entire stake to Apollo Global $APO for $1.4B. Wall Street Journal called Wesley Edens the new MREIT KING after merging Nationstar with Mr. Cooper aka Washington Mutual $WAMU saving $7B NOLs.
Why would these same investors controlling $NOVC Board of Directors waste $NOVC $730M NOLs and www.healthcare-staffing.com HCS and Rights that control billions of rich, seasoned collateral assets ideal to be leveraged/securitized into a new dividend and management fee for Fortress. Why would these investors waste Novation Co OTCBB $NOVC former MREIT traded on NYSE as $NFI, which paid out 100% of their tax income every year in dividends. IRC requires only 90% for MREIT to remain tax-exempt? $NOVC went to tremendous expense inside Ch 11 to save this former MREIT $NFI and the cleanup call rights CCR.