IMH Financial Corporation’s Latest SEC Filing Reflects a 73% Decline in Value

Thumbnail image for cards.jpg Although there is no news to report regarding the proposed IPO from IMH Financial Corporation, the company did file a new Form 10-K with the Securities and Exchange Commission (SEC) today. According to the SEC filing, the book value for IMH Financial Corporation shares (as of December 31, 2010) was $11.98 per share, which represents a 20% decrease from the company’s previously reported book value of $15.05 per share.

Under IMH’s new valuation, a $100,00 investment in IMH is now worth approximately $26,397, which gives new meaning to the company’s motto:

Don’t lose the money

Since IMH Financial Corporation stock is not publicly traded, investors are unable to sell their stock at any price.

Customers who purchased IMH Secured Loan Fund units through a securities broker may be able to recover damages by pursuing an arbitration claim before the Financial Industry Regulatory Authority (FINRA).