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Accredited Mortgage Loan REIT Trust Message Board

  • stock_gill stock_gill Aug 7, 2008 12:07 AM Flag

    AHHAP - long term strategy to address lack of disclosure

    Okay guys visibly Accredited's management doesn't disclose too much info to us. They even removed the link to the "investor relations" website, replacing it by "Real Estate for sale". So, the question is, what do we do:


    We do nothing, unless on the first day of September the divvy is not paid. As long as divvies are paid, we sit back and enjoy the divvies. But that also means we're not seing the 25$ liquidation value any time soon....


    To avoid being subject to Sarbox, a company must have lower than 300 (or was it 250?) shareholders of record if I remember correctly. We contact IR and/or LS spokesperson (I think it's Ed Trissel?) and tell them listen, unless you start updating us on what exactly you're doing, we're going to massively register our shares, become shareholders of record and make you subject to Sarbox.

    In the most extreme case, someone who's zealous may create 300 trusts that hold a small number of shares each. That strategy would probably need a bigger holder.

    So, vote and discuss : (A) or (B) - and why?

    P.S. Sorry I've extremely busy lately....couldn't post. Very, very, tired.

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    • Maybe someone should take a census. My wife and I each hold shares in separate accounts, so there are two shareholders. Plus several others on this board. Then there is some reasonable volume on this every day, so I find it hard to believe there are not many many more than 300 people who hold the more than 4 million shares of this stock.

      • 1 Reply to jimw1960
      • What you have to realize is that a broker such as schwab is counted as just 1 holder even if 500 people at that broker have accounts holding a security.

        I do not think the way to go is by forcing them to reregister.
        That might turn out to be like stirring up a hornets nest.

        I would love to see what Foothills thinks, and intend to give them a call, otherwise the divs and the fact that they are adding to the subprime bet gives alot of comfort.

    • Good to have you back!

      How about (C): try to reach someone at DuPont's pension fund to get their take on the situation.

      Everything they are doing indicates their desire to by a private company. Consistent with that would be redeeming the issue next year to tie off this loose end altogether.

      Even if they are not reporting and are avoiding SOX, there are specific requirements imposed by this preferred that they might like to eliminate.

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