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Altisource Asset Management Corporation (AAMC)

NYSE American - Nasdaq Real Time Price. Currency in USD
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17.33-0.47 (-2.66%)
At close: 2:12PM EDT
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  • w
    wbart21
    Last week AAMC put up a new presentation(see website's presentations tab ) describing their $97mm investment in 5 publicly traded mREITs in early February. The purchases were funded with $68mm of AAMC's cash & an additional $29mm from margin loan. NLY,AGNC,CIM,PMT,NRZ have all appreciated while paying dividends during the past 2-4 months of AAAMC's holding. Their investment philosophy in acquiring mREITs is contained in the presentation as is their intent to pursue a FixnFlip origination aggregation loan business. The presentation also describes their India operations & operational experience. Looking at charts of their mREIT investments since February & it becomes apparent they've already generated several million over & above margin interest. No 8-k that I saw announcing the posting of this strategic presentation. The investments are obviously liquid & could be used to either : pay Luxor & or acquire FnF loans/assets. I will be watching closely who they hire as CEO as it could offer a clue as to resolution potential with Luxor. Of course, if we don't see a replacement in a reasonable time then a conclusion could be that Luxor is continuing to push for immediate & full acceleration of all sums due & that AAMC won't be able to find anyone to step into the CEO role with that type of black swan potential over head. risk/reward : $0 or $100 ;)
  • w
    wbart21
    10KA filed Friday AH. Share structure as follows: Erby 39.3%,Putnam 16.5%, Execs 10.6% totaling 66.4% of O/S owned by these 3. Deducting those shares from 2.048mm O/S = only 687,512 shares available for risk averse private & institutional SHs . Interestingly, it was also reported that AAMC retains an additional 1.3mm issued shares(not yet part of O/S) in it's treasury account. Presumably those shares would be available to Luxor should they ever decide to settle. Only 687k shares in the publicly traded float( assuming Putnam/Erby continue to hold as they have) allows for extreme pps movement dependent upon news flow.
  • w
    wbart21
    CFO gone as well per filing AH. Complete overhaul of C-Suite in process. Might Luxor's willingness to settle be contingent upon the purging of the CEO/CFO? Getting very interesting.
  • s
    starting capital
    Hey wbart21, looking into investing here. Looks significantly undervalued to me... can you explain this Luxor issue? I haven’t seen it in the 10-k, maybe I missed it though guessing it would be in the Risk Factors section if it’s litigation
  • w
    wbart21
    Still no resolution with Luxor. If they were willing to accept the Putnam settlement structure I'd have expected a deal by now. It's a big IF, as several have pointed out , but if a Luxor settlement is ever reached it will now likely trigger claw back consideration from AAMC to Putnam under the Most Favored Nation Clause. $18.5mm PV settlement package looking less and less likely.
  • w
    wbart21
    Inappropriate conduct under EEO/anti-harassment policy, gheez. Glad BOD acted & feel sorry for employees affected by his conduct. They can now get someone appealing to Putnam & Luxor. New CEO should be devoid of any ties to prior AltiSource regimes/businesses ,etc... Company needs a fresh start to have any hope of resolving Luxor Preferred dispute & successfully deploying cash to launch new businesses. Anoymous you're getting some of the house cleaning you wanted , but obviously not for desired reasons
  • w
    wbart21
    Putnam just reported 17.4% ownership. That is almost 50,000 more shares than the 288k they received in the preferred stock settlement. Putnam clearly has faith in the unfolding,forward growth strategy of AAMC given their willingness to exchange their preferreds for common and then adding another 50,000 shares as reflected in today's amended Form 13. Encouraging sign. Need AAMC to announce details of that forward business strategy.
  • w
    wbart21
    Reading the Putnam settlement I note that their 288,283 shares were registered as of the agreement's effective date of 2/17/21. Putnam's 13GA on 3/10 confirmed no sale of those shares through March 10. The past two days price has been hammered by the sale of 150,000 shares(so far). Logically, you'd expect these to be sales by Putnam. Where else would the volume come from? If Putnam is the seller why didn't they begin selling in the high $20s on/about the effective date of the agreement? Also interesting , who is buying? Why bid @ any level if Luxor is likely to push AAMC into insolvency? So much about this company makes logical sense. Intrigued to see how this all shakes out $0 or $100 . Any thoughts from those more familiar with Company?
  • w
    wbart21
    Dan/Anonymous, Putnam & Luxor were both plaintiffs in the convert redemption suit . Resolution by the Court would have come @ the same time for both parties. Yet, Putnam after due diligence , decided to settle for token cash & a large AAMC common share stake. I'm not a rocket scientist, but see that fact as a bullish indicator that Luxor will do likewise. Putnam wouldn't leave the litigation & take AAMC stock if they felt that Luxor would ultimately forcibly liquidate AAMC rendering those shares worthless.
    If Luxor & AAMC can resolve their differences upon terms even close to Putnam's , this stock will explode upwards.
  • A
    Anonymous
    I can't believe this is a traded company, they have no business anymore, and all that's happening is they are paying execs millions from what they have left, while producing nothing! While this robbery is going on, their preferred shareholders are suing them to redeem their shares, but they are in a >100MM defecit.
    What am I missing?
  • w
    wbart21
    Huge news that I've been hoping for wrt settlement of Putnam's preferred share over hang. Very very good terms for AAMC. As surmised, it was/is in both parties best interests to have a strong, financially viable AAMC post settlement. I'm stoked that Putnam agreed to take the majority of the settlement in AAMC stock. The remaining preferred holders will settle in short order using this template & AAMC will unveil details of it's business strategy... this stock is on the launching pad for tremendous appreciation now.
    Congrats AAMC
  • w
    wbart21
    RESI just acquired in all cash deal @ $13.50/share. Besting the offer they received in February.
    Value of AAMC's 1.624+mm shares of RESI increases from $14mm to $22mmish.
  • M
    Manoj
    They have a $250mm convertible preferred stock redemption coming next month. Only $41mm of cash and securities on the balance sheet, and no access to the capital markets to fund the redemption. They are going bankrupt next month.
    Bearish
  • E
    Earl
    Is there anyone out there that has any idea if this company will survive?????
  • R
    Rhonda
    how can there be no news on this jump?
  • A
    Anonymous
    Just got a dope alert from (https:// www.tradenow.xyz)
  • c
    chee
    VLTC will run like AAMC. someone is accumulate alots of shares
  • R
    Rhonda
    What happened at 2 oclock?
  • Y
    Yosef
    sell AAMC buy VAL & SOI

    my opinion, take a look
  • E
    Earl
    Hello

    any thoughts on this lousy company???