Mr Cooper Group Inc (COOP)

[much faster]

IRS section 382 and how it fits into wmih

" ...Section 382 can create a significant problem when a business has large unused NOLs on its books. In these situations, a business that is attempting to gain additional investor funding should avoid any equity offering that could give the appearance of a change in ownership. For example, it could avoid triggering section 382 by issuing non-voting preferred stock that cannot be converted into common stock...."

interesting read:

http://www.accountingtools.com/nol-carryforward

and some questions for willingham, for example, why he and his croonies didt make the deal with kkr earlier?

from the reading, if wmih issues convertible preferreds, there is no limit on the nols at the moment.

so, really, why did it take so long? only to get some small investors to sell cheap?