Washington Mutual Preferred fka WAMPQ

[steved_45]

NOL doesn't equal cash

I've heard the same thing by Catz saying that the NOLs can be monetized in terms of a cash (asset) value to the estate. (Yes I know the difference b/t a non-cash asset and cash).

I just don't believe it and it doesn't make sense for 2 reasons

1. A tax attribute is nothing more than a conditional promise by the IRS. Because it is conditional on achieving profits, which the examiner stated was highly unlikely going to be enough to utilize the NOLs, then it seems to be speculative. Speculation doesn't afford a remedy in the legal world.

2.My other concern is that an NOL is not cash. Yes, I know that most assets aren't cash, but those assets can be liquidated into cash. An NOL can't be liquidated (bought/sold).

Please show me why I'm wrong with some case law or a statute. Obviously if it can be monetized, then we're sitting really good.

At this point, I would just like to receive some warrants, shares, or bonds (especially with a decent dividend) of the new company just to get this crap over with.

Steve