imho, Dilution could be the correct word now, although maybe not for 'legacy' reasons. Here's my thinking as we all are flying blind. I think that RKT's large amount of 'authorized' but not 'distributed' shares surely have a dilutive effect right now on our struggling share price. The market and us are wondering WTH these potential shares might get used for.... for now it is an anchor, imo. Of course, if its for our legacy assets, then it isn't dilutive as there is something for RKT to gain from giving out those shares.
I'm not sold at all on the theory that these authorized shares of RKT are even for legacy interests who released. There can't be that many assets left to unwind after all this time and the 3% refi craze. What's left to wind down in the Trusts is surely under the 10% buyout threshold, and maybe those scraps are where RKT could take over and give us some shares?.
But the lions share?....all that cash, is a lotta cash...and as AZ says, it's tracked by the DTC for the benefit of those who released.
I just cant shake the feeling that the legacy BK remote physical assets and cash are just gonna be on ice, until all claims and administration are released. That's just how things work. Govt just isn't gonna make the original sin of WAMU worse, by losing hold of collateral value now, until there is clear title all around. Just like nobody buys, nor title insures, a house with clouded title.
I can't help but feel that there is still a large chunk of time left before we know the truth. And why the same trolls are still trolling, since there are still things left to sweep under big rugs
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