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Life Partners Holdings, Inc. Message Board

wormwin32flame 110 posts  |  Last Activity: Sep 6, 2013 3:38 PM Member since: Jul 23, 2012
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  • wormwin32flame wormwin32flame Sep 6, 2013 3:38 PM Flag

    The rules for 8-K are funny, since there is nothing specific about losing a court case. However, losing this case will have a material effect on the future cash flow and earnings, and this means an investor cannot rely on previously issues financials. So a case is made for an 8-K. Also, LPHI found it material to issue an 8-K when they were successful with the same issue, so a case can be made for them issuing an 8-K now that they were tea bagged on appeal.

  • Reply to

    200 shares traded in the first 45 minutes?

    by wormwin32flame Sep 3, 2013 10:48 AM
    wormwin32flame wormwin32flame Sep 3, 2013 4:51 PM Flag

    Less than $12,000 of this traded today. $12,000? Where did all the pumpers and shorts go? I don't think anyone is left out there trading this, so who owns or controls all of it? Then again, perhaps a lot of shareholders don't know about the court ruling since no 8-K was issued. Then again, maybe there is another explanation...

  • wormwin32flame wormwin32flame Sep 3, 2013 4:05 PM Flag

    What happens if a lawyer sees what is at least questionable and unethical activity, isn't sure it is criminal (OK, he knows but is looking the other way), and does nothing about it? Does the legal profession care about ethical conduct in Texas, or do judges just hang out on party boats? Whoops, that aging Reagan appointee recused. But the boys and girl at D & D know what has gone on. And they have to know some of it was at the very least unethical. These guys and gal were getting fat, literally for most of them, off the customers their friend brought them. Well, that is why there are regulators, ethical oversight committees and weight loss programs. Time for a bourbon and branch. Unlike many lawyers, the water where I am staying is pure as the driven snow.

  • wormwin32flame wormwin32flame Sep 3, 2013 3:12 PM Flag

    If you read the 10-Q and 10-K filings you will see that all their business was done with just a couple of brokers, I am not sure how to read into this. It doesn't matter if the brokers were out to help their clients or screw them. LPHI still used an LE from Cassidy before pricing it to the fractional investors.

    More concerning to me and others who have posted about them is Advance Trust. Advance Trust knows if all the escrowed money went to the insurance company or not. Advance Trust knows exactly what was taken out in fees and commissions. Advance Trust knows about any fee splitting with Life Partners, and if or when it occurred. Advance Trust knows how many reales and premium forwarding occurred. Advance Trust knows when policies were purchased, and if they were purchased to show "earnings" with no fractional buyers in site. Advance Trust knows if a break-up agreements exists with Life Partners. Advance Trust knows which of their lawyers have a personal friendship with Pardo. Advance Trust knows!

  • wormwin32flame by wormwin32flame Sep 3, 2013 3:00 PM Flag

    If a ruling that totally destroys the business model of a public company is not material, then what is material? LPHI is giving the middle finger to stock investors and the SEC for not producing an 8-K filing over the extremely material event that occurred last week. I guess when someone thinks they are running a private company little things like disclosure to shareholders (assuming shareholders independent of Life Partners still exist) is no big deal.

  • wormwin32flame wormwin32flame Sep 3, 2013 2:30 PM Flag

    Master licensee or hairdresser?

    I assume none of this income is least not yet. The last I heard you can't deduct expenses (like for a boat or plane) that relate to income received from unlawful conduct. It will be interesting to see how the state proceeds in light of the court ruling. What the state does could very well have an impact on the personal tax situation of all the licensees and in particular the master licensees. Of course, everything is "civil" right now.

  • Who is left owning this stock? Is this now a game of Musical Chairs, or is it all effectively controlled?

  • wormwin32flame wormwin32flame Aug 30, 2013 7:09 PM Flag

    Who cares? At issue is the potential liability of anyone selling a fractional investment from this point forward. As of right now, fractional investments are securities.

    I can see the disclosure:"A State Court of Appeals ruled what I am trying to sell you is a security, and I am not a registered representative. Registered securities are supposed to offer potential investors full disclosure, but we don't exactly do that with our new and improved 3-year escrow and LEs.

  • Now that the court ruled fractional investments are securities, what does this mean for the licensees who sold fractional investments in the past? Are they liable for selling unregistered securities, or will they be liable from this point forward,? Where will LPHI find registered reps to sell fractional investments in the future? I don't know any broker/dealer who would touch this stuff.

    This is the end
    Beautiful friend
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    My only friend, the end

    Of our elaborate plans, the end
    Of everything that stands, the end
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    I'll never look into your eyes...again

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    The snake is long, seven miles
    Ride the snake...he's old, and his skin is cold

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    Get here, and we'll do the rest

    The blue bus is callin' us
    The blue bus is callin' us
    Driver, where you taken' us

    The killer awoke before dawn, he put his boots on
    He took a face from the ancient gallery
    And he walked on down the hall
    He went into the room where his sister lived, and...then he
    Paid a visit to his brother, and then he
    He walked on down the hall, and
    And he came to a door...and he looked inside
    Father, yes son, I want to kill you
    Mother...I want to..#$%$ you

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    And meet me at the back of the blue bus
    Doin' a blue rock
    On a blue bus
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    C'mon, yeah

    Kill, kill, kill, kill, kill, kill

    This is the end
    Beautiful friend
    This is the end
    My only friend, the end

    It hurts to set you free
    But you'll never follow me
    The end of laughter and soft lies
    The end of nights we tried to die

    This is the end

  • wormwin32flame wormwin32flame Aug 30, 2013 3:04 PM Flag

    8K? We don't need no stink'in 8K. We only produce an 8K when the news is good.

    Can you guys say, "Going Concern?" The two-shop CPAs they hired can't.

  • Reply to

    How to sell fractional investments

    by rasputinsrevenge1 Aug 10, 2013 10:32 AM
    wormwin32flame wormwin32flame Aug 12, 2013 10:59 AM Flag

    If a thee-year escrow reserve is "better" on a policy that has a LE of double the reserve (for the sake of argument), wouldn't a one-year escrow be better still? Using the same logic, wouldn't no escrow be best?

  • Reply to

    what happened today

    by trgsam Jul 24, 2013 4:24 PM
    wormwin32flame wormwin32flame Jul 25, 2013 1:32 PM Flag

    Abbott must know why his predecessor was unceremoniously @#$%canned. I don't think he is particularly fond of anyone impeding the success of the dept. he runs. It is unlikely Abbott will act like Perry asking anyone for rides in their aging corporate-funded aircraft, or entertain anyone presiding over court proceedings on a floating party vessel. Abbott knows there are plaintiffs out there who believe a lot of planes, boats, etc. were all paid for by investors who depended upon a Cassidy LE. He likely cares about them, and is embarrassed about the way the case was handled.

    After the dust settles I'll bet the stock investors will lose big, the licensees will move on to yet another scheme that offers 12%+ in a 5% world, and the plane and boat will remain along with all the dividends that went offshore.

  • Reply to

    what happened today

    by trgsam Jul 24, 2013 4:24 PM
    wormwin32flame wormwin32flame Jul 24, 2013 7:02 PM Flag

    Nothing happened today, except that the stock became a little bit more efficient. This nobel stock is more than a tad overpriced given the shrinking life settlement marketplace, the horrible margins, the shrinking cash position (being sent offshore in the form of dividends), the lack of a pardo(n) from the state that is appealing vigorously, and the SEC and other civil suits on the horizon. Wouldn't it be better to ask why this stock still above $1.00 per share and not a going concern?

    Can you say, RICO Mambo? Look up the RICO Mambo on YouTube, and pay particular attention to where it is performed and the uniforms of the people performing it.

  • Reply to

    Queston on Premium Calls

    by Apr 11, 2013 9:33 AM
    wormwin32flame wormwin32flame May 20, 2013 1:10 PM Flag

    If what you say is true, and I guess it is, this brings up yet another question for the litigators and SEC: If the premium call money isn't necessary to keep all the policies in force, why ask for it? Put another way, did all the reserves that the fractionals paid end up where it should have (eventually going to the insurance company), or was some of the reserves diverted elsewhere? I don't think the auditors track anything that far.

  • Reply to

    Queston on Premium Calls

    by Apr 11, 2013 9:33 AM
    wormwin32flame wormwin32flame May 20, 2013 9:53 AM Flag

    What rational does LPHI use for not updating the LE? If the policy is past the expected LE, an accurate LE still can't be zero. The issue isn't just paying premium calls, but LPHI providing accurate expectations to fractional investors. If the LEs are never changed, and if Cassidy never takes this data to fix his obviously too short LEs, and if LPHI never takes down the videos and audios of the CEO promising double digit returns, and if the recorded track record never includes policies that didn't mature, then at least some observers may cry foul...or fraud.

  • wormwin32flame by wormwin32flame Apr 29, 2013 4:55 PM Flag

    Our ability to return to fiscal 2009 or 2010 levels will not occur until and unless we can resolve the SEC suit satisfactorily. Until the SEC suit is resolved, we anticipate that our operating results in fiscal 2013 will be no better than fiscal 2012 and could decline further.
    Net cash flows used by operating activities in fiscal 2012 were $5,730,997, primarily as a result of a net loss of $3,123,478, a decrease in income taxes payable, a decrease in accounts payable and a gain on sales of investments in policies, while impairment of policies and deferred income taxes had a positive impact. Net cash flows provided by operating activities decreased by 118.7%, decreasing $36,464,220 from $30,733,223 in fiscal 2011 to $(5,730,997) in fiscal 2012. Net cash flows provided by operating activities decreased $468,653 from $31,201,876 in fiscal 2010 to $30,733,223 in fiscal 2011. Fiscal 2011's cash flow was primarily from net income of $23,425,749 and increased by impairment of owned policies and an increase in accounts payable...

  • Reply to

    Earnings report

    by thomasdave55 Apr 18, 2013 7:49 PM
    wormwin32flame wormwin32flame Apr 22, 2013 1:37 PM Flag

    You know earnings are bad. Look at the drop in price today. The pump is over until the next one gets started.

  • Reply to

    Only 20 days or so to go...

    by stanmarsh69u Mar 19, 2013 10:13 AM
    wormwin32flame wormwin32flame Apr 1, 2013 1:21 PM Flag

    Alternative view? No. I do believe the countdown for the earnings--or lack thereof--is now under "10." I haven't heard anything about a delay, have you? The new CFO will sign off on her first set of financials. I'll bet she now realizes what she got herself into! I wonder if that trust investment is going to ever pay off. If not, she ought to impair it ASAP. If the SEC considers the alleged improper revenue recognition "stock fraud," what is from keeping them from assuming the same with the continued non-impairment of the trust?

  • Reply to

    PJ...thanks for coming to play...

    by suva.crew Mar 5, 2013 1:13 PM
    wormwin32flame wormwin32flame Mar 14, 2013 9:53 AM Flag

    Ask your buddy Scott Peden if "stepping in" will have anything to do with Howey? Wouldn't that effectively give the regulators an excuse to call these transactions securities? Peden knows all about post transaction entrepreneurial effort and the Third Prong of Howey. If the investments become "securities", full disclosure is necessary. That means every fractional investor (like you) must know about the fees and commissions and real track record of the fractional investment. Therefore, an investor (like you) would find out what is taken out of each deal (also, by people like you). It must be fun keeping the troops together when your own home state wants to close down Life Partners, and the SEC will finally have the ammo to invoke Howey (assuming, as you say, Life Partners steps in).

  • Reply to

    PJ...thanks for coming to play...

    by suva.crew Mar 5, 2013 1:13 PM
    wormwin32flame wormwin32flame Mar 13, 2013 5:44 PM Flag

    I am not a lawyer and I cannot predict the future.The policies are held in trust, aren't they? All LPI did was purchase the policy and flip fractional interests of it to you minus a whole bunch of fees and commissions (the licensees need their private aircraft). LPI and LPHI don't hold the policies. The success or the lack of success you have as an investor who supposedly bought over 100 fractional interests depends upon the accuracy of the LEs assuming all the money you put out went to where it was supposed to go, namely the isurance company and not somewhere else. All the plaintiff suits seem to indicate the LEs are not accurate. No lawsuit is accusing the company of not selling factional interests in real life insurance policies. The policies are real, but some think the LEs are unreal.

1.4199+0.0699(+5.18%)Nov 28 12:56 PMEST

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