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(b) a loss for the year 2000 to date of $26,376,289.00, <br />against a "surplus as regards policyholders" for the year 2000 <br />to date of only $65,228,323.00. <br />In its Quarterly Statement as of June 30, 2000 submitted <br />to the New York Insurance Department (copy attached as Exhibit <br />E) Frontier reported the following financial facts: <br />(a) a loss for the year 2000 to date of $31,998,997.00, <br />against a "surplus as regards policyholders" for the year 2000 <br />to date of only $157,198,981.00. <br />As reported in the October 9, 2000 issue of <br />Property/Casualty Best Week, at page 5 (copy attached as <br />Exhibit F), the stock of Frontier's parent, .Frontier Insurance <br />Group, was trading at 75 cents per share on October 6, 2000, <br />and "Frontier [Insurance Group) stock has been on a downward <br />slide since November 1999, dropping from a 52-week high of <br />$9.125 a share to a low of $0.281 a share." <br />Based upon the foregoing, upon information which Frontier <br />may provide, and upon other information which the Division of <br />Minerals and Geology may gather, the Division of Minerals and <br />Geology may issue a Notice of Violation to the Debtor <br />Powderhorn, declaring the Debtor Powderhorn and Frontier to be <br />out of compliance with the Colorado Coal P.ct and the Permit <br />13 <br />