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Jh5142

09/25/18 10:24 AM

#371 RE: Jh5142 #370

It looks like the class action lawsuit is in the final stages of being settled. If it is approved by the judge, UDF will have accomplished what seemed unlikely a few years ago.

That is:

1. paying off substantially all of their debt
2. settling with the SEC for a relatively small sum, without admitting wrongdoing
3. settling the class action lawsuit for a relatively small sum, without admitting wrongdoing
4. remaining in business as a going-concern
5. all officers of the company remaining in place

The class action lawsuit appears to be a $10 million payment plus another $3 million if UDFI generates cash flow from operations of $75 million over the three year period beginning 2017.

That amount is not paid 100% by IV. UDF V is paying about $3 million and the other defendants are also paying smaller amounts: Centurian, ARC, Whitley, etc.

UDF had over $1.3 BILLION in assets when Bass attacked. Total fines appear to be only in the range of $15 million to $20 million in spite of UDF not providing financials for 3 years, a stock price decline from 20 to 2, and with the stock having been halted for 6 months.

That's remarkable.

Now we just need to see the financials to see what remains in the portfolio.

heyyou2

10/02/18 8:30 PM

#377 RE: Jh5142 #370

Should be a reply from the company 30 days after, so in about 3 weeks look at the court paperwork for a reply.