Washington Mutual Preferred fka WAMPQ

[WithCatz]

Thanks. I know in the failed POR that we effectively were buying the company back with a loan up front -- which gravely had many concerned. Now things are established so that there is a 'draw' from a loan as required for merger, etc.

Yes, liquidity out-of-the-gate is an issue. Which is why I feel that the first merger is quite important -- to gain that liquidity through the profits of the "MergeCo" to create "NewCo" and the secondary reason, of course, is beginning to exploit the NOLs. Immediately upon merger, the taxes on the profits of "MergeCo" are effectively zero -- causing effectively a 30%+/- improvement in their profits.

...Catz