Washington Mutual Preferred fka WAMPQ

[NASCOW]

Did you read this opinion?

There is only going to be 49.99% of newly issues commons available. The P preferred will be extended and all divies and back interest satisfied to continue them into the new company with a provision for conversion at the RE-WMI's discretion. The K's may also be agreed to be extended for a smaller term say 3 years. With all back interest paid off.

That leaves the commons owning the company and issuing new shares for capital raise for M&A..

It really is as simple as that and the preferreds do not have to be paid off. Some of the reissued shares will be used to either give to holders of PIERS cash or shares in new Co. the money raised will go to PIERS until they are satisfied in whole. The exisiting funds will be used to satisfy the Preferereds back interest and then the reamining will go for M&A..

That is the only way this deal can work..

However in 1-2 years, you will be owning a NASDAQ stock with very little debt and ability to use a vast amount of Tax Advantages for M&A..Big times are coming for RE-WMI!

I hope not in regards to value vs amt time, not the deal I want