Its just an accounting relic. No actual cash loss or profit was incurred as a result of the "derivative" (convertible prefereds that have not been converted yet). Of course, if you want to buy cheap shares, then shout: "Oh no, big losses, we're going bankrupt!". But who is stupid enough to listen to such lies ?
IRlier conveniently forgot to include Listing Standard No. 4, market cap based, which doesn't need any of those requirements, and "amazingly" doesn't need "employees, business plan" just assets, of which we have 10 time more than the requirement. See my posting from a few minutes ago for the full details.
What a typical "half truth" deception by ir. He "forgot" to include Listing Standard No. 4, which is the one WMIH will file under. No sales, employees, or business plan, are required :)
What is required is:
(1) Marmet cap of $160 million (we are clearly WAY bigger)
(2) Assets of $80 million (we have $600 million just in cash !)
(3) Stockholders’ Equity $55M (we have 10 times that!)
(4) Share price $4 (The day before we file, they will
make sure there is a large bid at $4)
That's why ir want to lie to everyone. We're all competing to grab as many shares as we can before this day. And we need someone to sell. So, if you believe his lies, by all means sell.