Note 9: Investment in Subsidiaries
Since the Effective Date, the Trust had five (5) dormant subsidiaries without any active business operations. The
subsidiaries adopted a plan of liquidation in October 2012. The assets held by these subsidiaries were comprised
solely of cash and cash equivalents. On June 23, 2017, four of the subsidiaries were merged with and into the last
remaining subsidiary, WaMu 1031 Exchange. Prior to such mergers, such subsidiaries distributed their remaining
cash to the Trust. The Trust received $444,333 on June 27, 2017. The last subsidiary, which no longer has any
assets, is expected to be dissolved by December 31, 2017.