Meritage takes steps to preserve the value of its deferred tax assets (MTH) 11.31 : The co announces that it has taken a number of steps designed to preserve the long term value to the co of certain tax assets primarily associated with net operating loss carryforwards and built in losses under Section 382 of the Internal Revenue Code. At September 30, 2008, the Company estimated that it had $137 million in deferred tax assets (before reserves) generated by approximately $360 million in net operating losses through September 30, 2008... 1) Adopted a Bylaw provision restricting transfers or issuances of stock that would create more than 4.9% stockholders, or that would change the ownership of such holders. 2) Approved, subject to stockholder approval, a provision in its Articles of Incorporation that creates the same transfer restrictions, and exception and termination provisions 3) Determined to hold a Special Meeting of Stockholders on February 16, 2009, or as soon thereafter as practicable, to vote on the amendment of the Articles of Incorporation.
I think what it means is that there are only 2 individual shareholders that own more than 4.9 percent. Steve Hilton and Robert Sarver. I heard that Sarver controls just at or over 1,500,000 or 5 percent. Look t the aggressive purchases over the last year. There are a couple major holders that control just under 4.9 percent, if that has any impact. You have it figured out now. -C