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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Majestic Capital, Ltd. - Common Shares (MM) | NASDAQ:MAJC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1693 | 0 | 01:00:00 |
(Check one):
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Form 10-K
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Form 20-F
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Form 11-K
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Form 10-Q
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Form 10-D
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Form N-SAR
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Form N-CSR
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For Period Ended:
December 31, 2010
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Transition Report on Form 10-K
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Transition Report on Form 20-F
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Transition Report on Form 11-K
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Transition Report on Form 10-Q
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Transition Report on Form N-SAR
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For the Transition Period Ended: ___________________
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Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
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(a)
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The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
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(b)
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The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
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(c)
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The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
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(1)
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Name and telephone number of person to contact in regard to this notification
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James J. Scardino
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(441)
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295-6689
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(Name)
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(Area Code)
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(Telephone Number)
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(2)
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Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
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Yes
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No
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(3)
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Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
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Yes
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No
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If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
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Date
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March 31, 2011
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By
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/s/ James J. Scardino
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James J. Scardino
Chief Executive Officer
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The December 2009 downgrade of Majestic Insurance Company’s financial strength rating to B++ from A-, which impeded the Company’s ability to renew existing insureds and to attract new business in a highly competitive market;
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Expenses related to the September 2010 proposed settlement of litigation involving the New York self-insured groups and other ongoing litigation; and
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Charges related to the early termination and subsequent license agreement related to Poughkeepsie office space.
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our inability to function as a going concern;
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actions by insurance regulators seizing or otherwise taking control of our insurance company subsidiaries or their assets;
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actions by our creditors or securities holders commencing liquidation or similar proceedings against us, our subsidiaries or their assets;
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the effects of mergers, acquisitions and divestitures;
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the cyclical nature of the insurance industry;
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premium rates;
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investment results;
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legislative and regulatory changes;
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the estimation of loss reserves and loss reserve development;
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reinsurance may be unavailable on acceptable terms, or even if available, we may be unable to collect reinsurance;
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the status or outcome of legal and/or regulatory proceedings;
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the occurrence and effects of wars and acts of terrorism;
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the effects of competition;
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failure to retain key personnel;
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economic downturns; and
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natural disasters.
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1 Year Majestic Capital, Ltd. - Common Shares (MM) Chart |
1 Month Majestic Capital, Ltd. - Common Shares (MM) Chart |
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