Investor FAQ's

When was CCUR Holdings founded?

The Company was founded in 1966. In May 2017 we sold our former Real-Time business and in December 2017 we sold our former Content Delivery business. Following those sale dispositions, in January 2018 we changed our name from Concurrent Computer Corporation to CCUR Holdings, Inc.

Where are CCUR Holdings' headquarters?

CCUR Holdings is headquartered in Duluth, Georgia, USA.

On what market is CCUR Holdings stock traded?

The Company’s stock trades under the “CCUR” ticker symbol on the OTCQB Venture Market (https://www.otcmarkets.com/stock/CCUR/overview).

What are the assets of CCUR Holdings?

CCUR Holdings’ assets include its real estate operations (operated through its subsidiary Recur Holdings LLC), cash, securities held, receivables from the sale of our operating businesses held in escrow, taxes receivable, and tax assets attributable to our net operating losses.  Our tax assets attributable to our net operating losses currently have a full valuation allowance assigned to them.

What is the process and time-frame the Board is following to build shareholder value?

Our Board of Directors has formed an Investment Committee, comprised of board members, to evaluate options to maximize the value of our continuing business and assets following our calendar 2017 business dispositions.  The Investment Committee’s process includes evaluating opportunities to acquire all or a controlling interest in one or more operating businesses or assets intended to provide attractive returns for our stockholders, a more liquid trading market for our stock, and enhance our ability to utilize our existing U.S. federal net operating loss carryforwards.  There has not been a specific timeline established for the acquisition process.  The Investment Committee is also tasked with expanding and developing our current operating activities. During fiscal year 2018, the Company began developing real estate operations initially through making a number of commercial loans secured by real property.  Based on the success of these activities, including the yield characteristics of these loans, and management’s experience in the real estate area, the Company created Recur Holdings LLC in the first quarter of our fiscal year 2019.  Recur Holdings is a Delaware limited liability company wholly owned by the Company through which the Company will hold and manage its existing and future real estate operations.  As a part of its real estate operations, the Company plans to continue to assess opportunities to create value through real property ownership, financing and/or development, among other strategies. The Company intends to further build on its current operations through its newly formed subsidiary while it continues to evaluate acquisition and strategic opportunities (within or outside the real estate sector). 

Is the Investment Committee considering more than one acquisition, or a specific acquisition structure?

The Investment Committee is open to a variety of acquisition structures, including multiple acquisitions of business assets and operations, so long as the transactions are appropriately valued. Acquisition structures may include combinations of cash, debt and/or equity consideration.

Are there certain industries CCUR Holdings will focus on?

No. We are targeting appropriately valued acquisition targets regardless of industry. There are no restrictions on the acquisition targets that we can pursue outside of the non-competition and non-solicitation terms agreed to as a part of the sales of our former Real-Time and Content Delivery businesses.

Has CCUR Holdings’ engaged an investment banker to help search for potential acquisition candidates?

Our senior management spends a significant portion of its time evaluating potential acquisition and strategic opportunities. We also work with several financial advisors and consultants on a non-exclusive basis and have been able to filter leads and referrals through diverse channels, enabling us to review a wide range of opportunities in a variety of industries.

Is CCUR Holdings considering liquidation?

CCUR Holdings is actively evaluating options to expand our current real estate operations and to maximize value of our overall assets through the addition of other business assets and operations. If the Board determines that this strategy is not producing adequate return on value, we may consider alternatives for returning capital to stockholders while we wind up our affairs.

Does CCUR Holdings pay a dividend?

Not at this time. In October 2017, we announced the Board of Directors’ decision to suspend the Company’s quarterly dividend following the payment of the December 28, 2017 dividend to preserve the Company’s liquidity while the Investment Committee considers potential acquisition targets and alternative uses of the Company’s 2017 sale proceeds and other assets.

Will the Board consider reinstating a quarterly dividend payment? Or will the Board consider returning the proceeds earned from its 2017 business dispositions to investors with a special one-time dividend?

The Board of Directors will continue to regularly assess our allocation of capital and evaluate whether and when to reinstate the quarterly cash dividend or declare any special dividend.

What are the “substantial” tax assets?

As of June 30, 2018, we had U.S. federal net operating loss carryforwards (“NOLs”) of approximately $56. 1 million for income tax purposes, of which none expire in fiscal year 2018, and the remainder expire at various dates through fiscal year 2037.  

Does the new tax legislation impact the value or ability to use the tax assets?

On December 22, 2017, tax legislation commonly known as the Tax Cuts and Jobs Act (the “TCJA”) was enacted. Beginning in 2018, the TCJA generally will, among other things, permit us to offset only 80% (rather than 100%) of our taxable income with any net operating losses we generate after 2017. Net operating losses subject to these limitations may be carried forward by us for use in later years, subject to these limitations. These tax law changes could have the effect of causing us to incur income tax liability sooner than we otherwise would have incurred such liability or, in certain cases, could cause us to incur income tax liability that we might otherwise not have incurred, in the absence of these tax law changes. The TCJA also includes provisions that, beginning in 2018, reduce the maximum federal corporate income tax rate from 35% to 21% and eliminate the alternative minimum tax, which would lessen any adverse impact of the limitations described in the preceding sentences.

What are the Company’s operating costs going forward?

We are not providing guidance regarding go-forward operating costs at this time.

How many employees will CCUR Holdings have going forward?

We intend to minimize our employee count while we continue development and expansion of our real estate operations and evaluate acquisition opportunities. As of September 2018, we have 3 full-time employees and a number of contractors and vendors that provide outsourcing functions in areas such as IT, payroll, tax preparation work, and certain other accounting functions.

Will the Company conduct quarterly conference calls or issue quarterly results news releases?

At this time, we intend to issue quarterly results by means of filing Form 10Qs and 10Ks.

When does CCUR Holdings’ fiscal year end?

CCUR Holdings' fiscal year end is June 30.

Who is CCUR Holdings' Transfer Agent and Registrar? (i.e., who administers the stock certificates?)

CCUR Holdings' transfer agent is American Stock Transfer & Trust Company. The transfer agent is responsible for maintaining all records of stockholders (i.e., name, address, telephone number), canceling or issuing stock certificates and resolving problems related to lost, destroyed or stolen certificates. If you are a CCUR Holdings stockholder and need to amend the details of your stock record such as the address or title, please contact: help@astfinancial.com
(800) 937-5449 or (718) 921-8124

https://www.astfinancial.com/

Whom do I call with questions about my stock account?

If you are a registered shareholder, you may contact CCUR Holdings' transfer agent: American Stock Transfer and Trust. The transfer agent can be reached through the contact information above. If you hold your shares through a broker, bank or other nominee, you should contact that institution directly for more information. If you have questions regarding the tax consequences of the dividend, you should contact your personal tax advisor.

How can I sell my shares?

Contact a broker of your choice.

How can I purchase shares in CCUR Holdings?

You can purchase CCUR Holdings common stock through any registered broker. CCUR Holdings shares cannot be bought from the Company.

What are the tax consequences of the dividends in calendar year 2017?

Internal Revenue Service regulations require the calculation of earnings and profits to be made only at the end of the fiscal year. However, due to the earnings and profits generated by CCUR Holdings’ sales of its operating businesses, along with ending its dividend payments in December 2017, there will be sufficient earnings and profits to treat dividends paid in calendar year 2017 as dividend income.

How do I contact Investor Relations at CCUR Holdings?

Doug Sherk
Investor Relations
Phone: (415)652-4462
Email: doug@mdcgs.com

Who are CCUR Holdings' Independent auditors?

Marcum LLP
1600 Market Street, 32nd Floor
Tele 215.297.2100
http://marcumllp.com/

Who is CCUR Holdings' legal counsel?

Moore & Van Allen
100 North Tryon Street
Suite 4700
Charlotte, NC
28202-4003
Tel: (704) 331-1000
http://www.mvalaw.com/

When is the annual shareholder meeting held?

CCUR Holdings' Annual Meeting of Shareholders is usually held in the fall of each year. This meeting is held to elect members of the board of directors and transact other business properly brought before the meeting. We encourage all shareholders to have their shares represented at the meeting by voting via proxy or in person.