We just heard from the AJW Liquidators
They're saying that it's looking dismal. Of all the 100+ companies in the NIR portfolio, only 9 show signs of life. There are 16 more which at least are still making SEC filings and are maintaining websites. (although, it doesn't take much to maintain a website; just about anybody can do it) But the rest of the companies all have no activity, no filings, no trading, no ongoing business, no websites, no nothing.
My question is: how is it that Corey is not behind bars?
What kind of money manager makes it a practice to hand over millions of dollars to fly-by-night, fraudulent companies run by criminals?
The liquidators have been seeking help from experts to realize value from the portfolio, but some of these experts have informed them that the realizable value is too small to make it worthwhile.
But, the topper is that we've been advised not to expect reportable tax losses because losses, like gains, have to be realized in order to be taken. Well, surely at some point we should be allowed to take them. Right?
I think it's time to contact the SEC again about Corey, and I am going to do just that. I'll send them a copy of this latest report from the liquidators.
