Washington Mutual Preferred fka WAMPQ

[Desperado90]

I've read the loan terms and IMO it's not dilutive therefore, cannot be death spiral loan. The main characteristic of death spiral financing is the issuance or reservation of shares to the lender.

I'm still skeptical about the 5% for the SNH because that could be the shares reserved to cover the loan but it's still not very clear to me.

Finally, I know you know this already. There's is a major difference between liquidity and assets. WMMRC has assets but might need some liquidity to get business going and start writing new policies and maybe start employing personnel and meeting payroll and the rest of what goes into start a new company.

If I were the EC, instead of starting from the scratch, they should immediately go into acquisition and merger mode.