~ UPDATED, "Embedded Derivative Function" Numbers ~
On 09/30/2016’ ... WMIH-Corp reported an ... embedded derivative liability of $58,261,000.00 (the pps was perfidiously enhanced) ...
(added:) On 12/31/2016' ... WMIH-Corp reported an ... embedded derivative asset of $80,651,000.00 ...
While on 03/31/2017 ... WMIH-Corp reported an ... embedded derivative asset, ... of $98,680,000.00 (again, the pps being purposely depressed)
And' Yes, ... regarding the now 9 Years of “Trust” Generated Accumulated Cash”, ...
And Yes, ... to a Delaware Registered WMI-LT Pass-Through mechanism, able to be utilized while the LT is able to remain active, ...
And Yes, ... to a large portion of the original “Trusts” having a 10 year life span’, the timing of the last ones which were actually produced, now ending in Nov 2017’ ...
And Yes, ... I believe WMIH-Corp needs to couple its own “Equity Interest” ... with our (the releasing (41.6) members), owned percentage of the original estate’ ... (WMIIC / WMI) ...
And, ... NO, I DO NOT believe that WMIH-Corp, is LEGALLY able to couple what ... WE’ OWN, ... to what ... THEY’ OWN, ... with any semblance of either a, ... ”Falsely Enhanced, or a Falsely Depressed”, ... PPS (price per share) ...
merely an accounting convenience provided to the newco’ by way of the ... "embedded derivative function" ... of the rights offering replacement credit facility ...
As I have posted, ... The ... "embedded derivative function"’ ... provided by the KKR replacement credit facility allowed for this accounting and balance sheet manipulation ... However, IMO, ... it no longer matters’ nor’ is this needed any longer ...
To the best of my calculations, ... the pps transition, must occur using a WMIH-Corp closing PPS’ somewhere in between the adjusted close on ... 09/30/2016’ (updated:) ... and' the adjusted close on, ... 12/31/2016
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