jmac, where do you see, in any document, a $32B stock loss? The 10Q fully discloses the actual abandonment NOL and post adjustment, netting to $5.96B NOL loss on abandonment.
If you are using the $32B WMI had invested in WMB as support, consider that the NOLs used by the debtor in the 5-year NOL carryback that generated the $6B in tax refunds and the WMB junior debt forgiveness offset and you will arrive at the amount the 10Q disclosed as the loss on WMB abandonment. You can't climb back to $32b and rerun the NOLs forward after you have used them backwards.
The NOL is $5.96B. There is no $32B....unless you can show me what documents to look at that were in the dockets and filings.
I see you ask for full disclosure, they have...you just don't accept what they are disclosing. The 10Q is the disclosure, signed by Management in accordance with Governance (BOD). It is full disclosure and you appear to be looking for them to disclose something that is not correct.
Can you imagine the liability to all professionals, LT, WMIH, etc. if "all of a sudden" all of the numbers disclosed are wrong? That the assets are really billions and billions "higher?" All those who sold based on the disclosures would be able to sue these parties, including WMIH, for their lost gains. Seriously. WMIH would somehow have more assets, and now more litigation liablilities to pay off; net zero.
Regarding the 30%, it is actually recorded at 35%. After that recording of the deferred tax asset, they record the valuation allowance; i.e., the likelihood based on current information, that it is more likely than not that the NOLs will be used. They recorded a 100% valuation allowance, reducing the 35% of the NOLs to zero for the balance sheet.
They have disclosed everything.
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