UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

Quarterly Report Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

For the quarterly period ended ~~June~~December 3031, 2015

Commission file number 000-499-68

COMDISCO HOLDING COMPANY, INC.

(Exact name of registrant as specified in its charter)

Delaware		54-2066534
(State or other jurisdiction of		(I.R.S. Employer Identification No.)
incorporation or organization)

5600 North River Road

Suite 800

Rosemont, Illinois 60018

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (847) 698-3000

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (check one):

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (Do not check if a smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [ ] No[X]

The registrant had 4,028,951 shares of common stock, $0.01 par value per share outstanding on ~~July~~January 3129, ~~2015~~2016.

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COMDISCO HOLDING COMPANY, INC.

INDEX

			~~Page~~	Page
PART I.	FINANCIAL INFORMATION		2	2
	ITEM 1.	FINANCIAL STATEMENTS	2	2
		Consolidated Statement of Net Assets in Liquidation as of June 30, 2015 (Liquidation Basis) (Unaudited)	3
		Consolidated Statements of Net Assets in Liquidation (Liquidation Basis) as of December 31, 2015 (Unaudited) and September 30, 2015 (Audited)		3
		Consolidated Statement of Changes in Net Assets in Liquidation – Three and nine months ended June 30, 2015 (Liquidation Basis) (Unaudited)	4
		Consolidated Statements of Changes in Net Assets in Liquidation (Liquidation Basis) – Three months ended December 31, 2015 and 2014 (Unaudited)		4
		Consolidated Statement of Cash Flows – Nine months ended June 30, 2015 (Liquidation Basis) (Unaudited)	5
		Consolidated Statements of Cash Flows (Liquidation Basis) – Three months ended December 31, 2015 and 2014 (Unaudited)		5
		Consolidated Balance Sheet – September 30, 2014 (Going Concern Basis) (Audited)	6
		Notes to Consolidated Financial Statements (In Liquidation) (Unaudited)		6
		Consolidated Statement of Comprehensive Income – Three and nine months ended June 30, 2014 (Going Concern Basis) (Unaudited)	7
	ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS		10
		Consolidated Statement of Cash Flows – Nine months ended June 30, 2014 (Going Concern Basis) (Unaudited)	8
	ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		15
		Consolidated Statement of Cash Flows – Nine months ended June 30, 2014 (Going Concern Basis) (Unaudited) - Continued	9
	ITEM 4.	CONTROLS AND PROCEDURES		15
		Notes to Consolidated Financial Statements (In Liquidation) (Unaudited)	10
PART II.	OTHER INFORMATION			15
	ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	17
	ITEM 1.	LEGAL PROCEEDINGS		15
	ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	23
	ITEM 1A.	RISK FACTORS RELATING TO THE COMPANY		15
	ITEM 4.	CONTROLS AND PROCEDURES	23
	ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS		15
PART II.	OTHER INFORMATION		24
	ITEM 3.	DEFAULTS UPON SENIOR SECURITIES		15
	ITEM 1.	LEGAL PROCEEDINGS	24
	ITEM 4.	MINE SAFETY DISCLOSURES		15
	ITEM 1A.	RISK FACTORS RELATING TO THE COMPANY	24
	ITEM 5.	OTHER INFORMATION		15
	ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	24
	ITEM 6.	EXHIBITS		16
	ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	24
SIGNATURES				16
	ITEM 4.	MINE SAFETY DISCLOSURES	24
	ITEM 5.	OTHER INFORMATION	24
	ITEM 6.	EXHIBITS	24
SIGNATURES			25

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PART I. FINANCIAL INFORMATION

Forward-Looking Statements

This quarterly report on Form 10-Q contains, and our periodic filings with the Securities and Exchange Commission (the “SEC”) and written and oral statements made by the Company’s sole officer and director or any authorized representative, to press, potential investors, securities analysts and others, will contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), and the Company intends that such forward-looking statements be subject to the safe harbors created thereby. These forward-looking statements are not historical facts, but rather are predictions and generally can be identified by use of statements that include phrases such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “foresee,” “looking ahead,” “is confident,” “should be,” “will,” “predicted,” “likely” or other words or phrases of similar import. Similarly, statements that describe or contain information related to matters such as our intent, belief, or expectation with respect to financial performance, claims resolution under the Plan (as defined below), cash availability and cost-cutting measures are forward-looking statements. These forward-looking statements often reflect a number of assumptions and involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from those currently anticipated in these forward-looking statements. In light of these risks and uncertainties, the forward-looking events might or might not occur, which may affect the accuracy of forward-looking statements and cause the actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements.

In this quarterly report on Form 10-Q, references to “the Company,” “Comdisco Holding,” “we,” “us” and “our” mean Comdisco Holding Company, Inc., its consolidated subsidiaries, including Comdisco, Inc., Comdisco Ventures Fund A, LLC (formerly Comdisco Ventures, Inc.) and its predecessors, except in each case where the context indicates otherwise. References to “Comdisco, Inc.” mean Comdisco, Inc. and its subsidiaries, prior to the Company’s emergence from bankruptcy on August 12, 2002, except where the context indicates otherwise.

Important factors that could cause actual results to differ materially from those suggested by these written or oral forward-looking statements, and could adversely affect our future financial performance, include the risk factors discussed in the Company’s Annual Report on Form 10-K in Part I, Item 1A, Risk Factors and in the Company’s Quarterly Report on Form 10-Q in Part II, Item 1A, Risk Factors. Many of the risk factors that could affect the results of the Company’s operations are beyond our ability to control or predict.

ITEM 1. FINANCIAL STATEMENTS

The Company emerged from Chapter 11 bankruptcy proceedings on August 12, 2002. The purpose of the Company is to sell, collect or otherwise reduce to money in an orderly manner the remaining assets of the corporation. Pursuant to the Company’s First Amended Joint Plan of Reorganization (the “Plan”) and restrictions contained in the Company’s Certificate of Incorporation (the “Certificate”), the Company is specifically prohibited from engaging in any business activities inconsistent with its limited business purpose. Accordingly, it is anticipated that the Company will have reduced all of its assets to cash and made distributions of all available cash to holders of its common stock and contingent distribution rights (“CDRs”) in the manner and priorities set forth in the Plan within the next few years. At that point, the Company will cease operations and no further distributions will be made.

~~Under~~The ~~the plan, the~~ Company ~~was charged with~~filed, ~~and~~on ~~has been~~August 12, ~~liquidating its assets. While there have been no changes either to the Plan~~2004, ora ~~the~~Certificate ~~Company’s~~of ~~obligations~~Dissolution ~~under~~with ~~it,~~ the ~~Company~~Secretary ~~adopted ASU 2013-07, Liquidation Basis~~ of ~~Accounting~~State as of ~~October 1, 2014 and accordingly determined that liquidation was imminent. Therefore, effective October 1, 2014,~~ the ~~Company~~State ~~applied the liquidation basis~~ of ~~accounting~~Delaware onto aformally ~~prospective~~extinguish ~~basis. The liquidation basis of accounting requires~~ the Company’s tocorporate ~~estimate~~existence ~~net cash flows from operations and to accrue all costs associated~~ with ~~implementing and completing~~ the ~~plan~~State of ~~liquidation~~Delaware ~~and~~except ~~requires~~for ~~management to make estimates that affect~~ the ~~amounts~~purpose ~~reported~~of incompleting the ~~consolidated~~wind ~~financial~~down ~~statements~~contemplated ~~and~~by the ~~related notes~~Plan. ~~Due~~Capitalized toterms ~~the~~used ~~adoption~~but ofnot ~~the~~defined ~~liquidation~~in ~~basis~~the ofAnnual ~~accounting~~Report ason ~~of October~~Form 1,10-Q ~~2014,~~have the ~~comparability~~meanings ofas ~~results~~defined ofin ~~operations~~the ~~of current year periods to prior year periods is limited~~Plan.

~~The~~Under the Plan, the Company ~~filed~~was charged with, onand ~~August 12~~has been, ~~2004~~liquidating its assets. While there have been no changes either to the Plan, aor ~~Certificate~~the ofCompany’s ~~Dissolution~~obligations ~~with~~under it, the ~~Secretary~~Company ofadopted ~~State~~ASU 2013-07, Liquidation Basis of ~~the~~Accounting ~~State~~as of ~~Delaware~~October 1, to2014 ~~formally~~and ~~extinguish~~accordingly ~~Comdisco~~determined ~~Holding~~that ~~Company~~liquidation was imminent. Therefore, effective October ~~Inc.’s~~1, ~~corporate~~2014, ~~existence~~the ~~with~~Company applied the ~~State~~liquidation basis of ~~Delaware~~accounting ~~except~~on ~~for~~a ~~the~~prospective ~~purpose~~basis. The liquidation basis of ~~completing~~accounting requires the ~~wind-down~~Company ~~contemplated~~to byestimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan~~. Capitalized~~ ~~terms~~of ~~used~~liquidation ~~but~~and ~~not~~requires ~~defined~~management into ~~this~~make ~~quarterly~~estimates ~~report~~that onaffect ~~form 10-Q~~the ~~have~~amounts reported in the ~~meanings~~consolidated asfinancial ~~defined~~statements inand the ~~plan~~related notes.

The Company is currently projecting no later than December 31, 2016 as the end date for its wind down of operations. It is anticipated that by this date the Company will have, among other things: complied with all of the terms and conditions of a global settlement agreement entered into between the litigation trustee, the Company and the SIP Defendants as described further in SIP Litigation (the “GSA”), reduced all of its assets to cash, resolved its final federal and state tax obligations, determined its final CDR liability (which will include the impact of the actual distribution by the Litigation Trust to the C-4 creditors), made distributions of all available cash to holders of its common stock and CDRs in the manner and priorities set forth in the Plan, cancelled such common stock and CDRs and completed all regulatory filings. Accordingly, it has made appropriate expense accruals for such time period in its calculation of Net Assets in Liquidation. However, the projected remaining wind down period could be either shorter or longer as a result of other intervening matters not currently known to management.

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Comdisco Holding Company, Inc.

Consolidated ~~Statement~~Statements of Net Assets in Liquidation as of ~~June~~December 3031, 2015 (Liquidation Basis) and September 30, 2015 (~~Unaudited~~Liquidation Basis)

(in thousands)

		June 30, 2015 (Liquidation Basis) (Unaudited)
		December 31, 2015 (Unaudited)		September 30, 2015
ASSETS
Cash and cash equivalents	$	3029,~~671~~214	$	30,126
Cash – legally restricted		4,000		4,000
Receivable from securities sold		12,~~911~~026		1,911
Assets held in trust for deferred compensation plan		~~505~~0		500
Other assets		84123		183
TOTAL ASSETS	$	3735,~~171~~363	$	36,720
LIABILITIES
Contingent Distribution Rights Liability	$	1011,~~779~~000	$	10,813
Accrued compensation		4,326
Supplemental CDR Liability due to Anticipated Litigation Trust Distribution		370		370
Accrued professional fees		1,613
Accrued compensation		3,636		4,077
Other accrued costs		956
Accrued professional fees		1,230		1,374
Accrued liability for deferred compensation plan		505
Other accrued costs		547		956
Accrued estimated disposal costs of liquidation		588
Accrued liability for deferred compensation plan		0		500
Income taxes payable		50
Accrued estimated disposal costs of liquidation		219		588
TOTAL LIABILITIES		1817,~~817~~002		18,678
NET ASSETS IN LIQUIDATION	$	18,~~354~~361	$	18,042

See accompanying notes to consolidated financial statements.

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Comdisco Holding Company, Inc.

Consolidated ~~Statement~~Statements of Changes in Net Assets in Liquidation – Three ~~and nine~~ months ended ~~June~~December 3031, 2015 and 2014 (Liquidation Basis) (Unaudited)

(in thousands)

		Three Months Ended June 30, 2015 (Liquidation Basis) (Unaudited)	Nine Months Ended June 30, 2015 (Liquidation Basis) (Unaudited)
		Three Months Ended December 31, 2015	Three Months Ended December 31, 2014
Net assets in liquidation, beginning of period	$	18,~~320~~042	$	28,158
Changes in net assets in liquidation
Change in other assets		37121	~~(29)~~170
Change in Contingent Distribution Rights Liability		(19187)	~~209~~102
Change in accrued liabilities		2016	(~~154~~26)
Change in accrued estimated disposal costs of liquidation		0369	(420)
Change in equity investments		(4)	40
Liquidating distribution to Common Stockholders		0	0
Liquidating distribution to Common Stockholders		0	(9,450)
Net increase (decrease) in net assets in liquidation		319	(174)
Net increase (decrease) in net assets in liquidation		34	(9,804)
Net assets in liquidation, end of period	$	18,361	$	27,984
Net assets in liquidation, end of period	$	18,354	$	18,354

See accompanying notes to consolidated financial statements.

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Comdisco Holding Company, Inc.

Consolidated ~~Statement~~Statements of Cash Flows – ~~Nine~~Three months ended ~~June~~December 3031, 2015 and 2014 (Liquidation Basis) (Unaudited)

(in thousands)

		Nine Months Ended June 30, 2015 (Liquidation Basis) (Unaudited)
		Three Months Ended December 31, 2015		Three Months Ended December 31, 2014
Cash flows from operating activities:
Equity investment proceeds net of sharing	$	~~15,532~~0	$	15,144
Bad debt recoveries, interest and other revenue		~~261~~63		37
Selling, general and administrative expenses		(1,~~875~~069)		(579)
Contingent Distribution Rights payments		(5,550)
Payment of assets held in trust for deferred compensation plan		(409)		0
Income tax payments		~~(251)~~0		(82)
Net cash provided by operating activities		8,117
Net cash (used in) provided by operating activities		(1,415)		14,520
Cash flows from financing:
Cash flows from investing:
Dividends paid on Common Stock		(9,450)
Receipt of assets held in trust for deferred compensation plan		503		0
Receipt of uncashed dividends		12
Net cash provided by investing		503		0
Net cash used in financing		(9,438)
Net increase (decrease) in cash and cash equivalents		(912)		14,520
Net decrease in cash and cash equivalents		(1,321)
Cash and cash equivalents at beginning of period		30,126		31,992
Cash and cash equivalents at beginning of period		31,992
Cash and cash equivalents at end of period	$	29,214	$	46,512
Cash and cash equivalents at end of period	$	30,671

See accompanying notes to consolidated financial statements.

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Comdisco Holding Company, Inc.

Consolidated Balance Sheet – September 30, 2014 (Going Concern Basis) (Audited)

(in thousands, except share data)

		September 30, 2014 (Going Concern Basis)
ASSETS
Cash and cash equivalents	$	31,992
Cash – legally restricted		4,000
Equity investments		697
Assets held in trust for deferred compensation plan		501
Other assets		248
Total assets	$	37,438
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	103
Income taxes payable		90
Other liabilities:
Accrued compensation		1,429
Contingent Distribution Rights		10,437
Other liabilities		168
Total other liabilities		12,034
Total liabilities		12,227
Stockholders’ equity
Common Stock $.01 par value. Authorized 10,000,000 shares; originally issued 4,200,000 shares; 4,028,951 shares issued and outstanding at September 30, 2014		70
Additional paid-in capital		28,414
Accumulated other comprehensive (loss)		(3)
Accumulated deficit		(3,270)
Total stockholders’ equity		25,211
	$	37,438

See accompanying notes to consolidated financial statements.

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Comdisco Holding Company, Inc.

Consolidated Statement of Comprehensive Income – Three and nine months ended June 30, 2014

(Going Concern Basis) (Unaudited)

(in thousands, except per share data)

		Three Months Ended June 30, 2014 (Going Concern Basis) (Unaudited)		Nine Months Ended June 30, 2014 (Going Concern Basis) (Unaudited)
Revenue
Gain on sale of equity investments	$	0	$	1,590
Miscellaneous income		0		100
Interest income		11		54
Total revenue		11		1,744
Costs and expenses
Selling, general and administrative		575		1,925
Contingent Distribution Rights		(827)		(141)
Foreign exchange loss		0		312
Bad debt recoveries		(421)		(463)
Total costs and expenses		(673)		1,633
Net earnings before income taxes		684		111
Income tax expense (benefit)		51		(552)
Net earnings		633		663
Other comprehensive income, net of tax:
Unrealized gains on securities:
Unrealized holding gains arising during the period		2		1,587
Reclassification adjustment for gains included in earnings		0		(1,588)
Other comprehensive income (loss)		2		(1)
Comprehensive income	$	635	$	662
Basic and diluted net earnings per common share	$	0.16	$	0.16

See accompanying notes to consolidated financial statements.

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Comdisco Holding Company, Inc.

Consolidated Statement of Cash Flows – Nine months ended June 30, 2014 (Going Concern Basis) (Unaudited)

(in thousands)

		Nine Months Ended June 30, 2014 (Going Concern Basis) (Unaudited)
Cash flows from operating activities:
Equity investment proceeds net of sharing	$		1,590
Bad debt recoveries, interest and other revenue		613
Selling, general and administrative expenses		(1,695)
Income tax payments		(354)
Income tax receipts		733
Net cash provided by operating activities		887
Cash flows from investing activities:
Redemption of short-term investment		4,003
Net cash provided by investing activities		4,003
Effect of exchange rates on cash and cash equivalents		(35)
Net increase in cash and cash equivalents		4,855
Cash and cash equivalents at beginning of period		27,671
Cash and cash equivalents at end of period	$		32,526

See accompanying notes to consolidated financial statements.

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Comdisco Holding Company, Inc.

Consolidated Statement of Cash Flows – Nine months ended June 30, 2014 (Going Concern Basis) (Unaudited) - Continued

(in thousands)

		Nine Months Ended June 30, 2014 (Going Concern Basis) (Unaudited)
Reconciliation of net earnings to net cash provided by operating activities:
Net earnings	$	663
Adjustments to reconcile net earnings to net cash provided by operating activities:
Taxes payable and other tax balances		89
Change in Canadian income tax receivables/payables		(262)
Contingent Distribution Rights		(141)
Receivables		10
Selling, general and administrative expenses		230
Other, including foreign exchange		298
Net cash provided by operating activities	$	887

See accompanying notes to consolidated financial statements.

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COMDISCO HOLDING COMPANY, INC.

Notes to Consolidated Financial Statements (In Liquidation) (Unaudited)

~~June~~December 3031, 2015

The following discussion and analysis should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in Item 2 of Part I and in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, ~~2014~~2015, and with the Consolidated Financial Statements and related notes in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, ~~2014~~2015. Capitalized terms used but not defined in this Quarterly Report on Form 10-Q have the meanings as defined in the ~~Company’s First Amended Joint~~ Plan ~~of Reorganization (the “Plan”)~~. Under the Plan, the Company was charged with, and has been, liquidating its assets. While there have been no changes either to the Plan, or the Company’s obligations under it, the Company adopted ASU 2013-07, Liquidation Basis of Accounting as of October 1, 2014 and accordingly, determined that liquidation was imminent. Therefore, effective October 1, 2014, the Company applied the liquidation basis of accounting on a prospective basis.

1. Reorganization

On July 16, 2001, Comdisco, Inc. and 50 of its domestic subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division (the “Bankruptcy ~~court~~Court”) (consolidated case number 01-24795). ~~Comdisco~~The ~~Holding~~ Company, ~~Inc.,~~ as the successor company to Comdisco, Inc., emerged from bankruptcy under the Plan that became effective on August 12, 2002. For financial reporting purposes only, however, the effective date for implementation of fresh-start reporting was July 31, 2002. Effective October 1, 2014, the Company has applied the liquidation basis of accounting on a prospective basis. See Note 2 of these Notes to Consolidated Financial Statements (In Liquidation).

~~Comdisco~~The ~~Holding~~ Company~~, Inc.~~ ~~(the “Company”)~~ was formed on August 8, 2002 for the purpose of selling, collecting or otherwise reducing to money in an orderly manner the remaining assets of the Company and all of its direct and indirect subsidiaries, including Comdisco, Inc. The Company’s business purpose is limited to the orderly sale or collection of all its remaining assets. Pursuant to the Plan and restrictions contained in its Certificate, the Company is specifically prohibited from engaging in any business activities inconsistent with its limited business purpose.

Litigation Trust: In February 1998, pursuant to Comdisco, Inc.’s Shared Investment Plan (the “SIP”), 106 employees (the “SIP Participants”) took out full recourse, personal loans to purchase approximately six million shares of Comdisco, Inc.’s common stock. In connection therewith, Comdisco, Inc. executed a guaranty dated February 2, 1998 (the “Guaranty”) providing a guaranty of the loans in the event of default by the SIP Participants to the lenders under the SIP (the “SIP Lenders”). The Company and the SIP Lenders subsequently reached a settlement on the Guaranty that was approved by the Bankruptcy ~~court~~Court on December 9, 2004. The Plan and the litigation trust agreement provided that, under certain circumstances, subrogation rights that the Company may have against the SIP Participants and their respective promissory notes be placed in a trust for the benefit of the C-4 creditors (the “Trust Assets”). Under the Plan, the Litigation Trust is solely responsible for collection of amounts due on the promissory notes of the sixty-nine SIP Participants who did not take advantage of the SIP Relief (as defined in the Plan). The Company has a limited indemnification obligation to the litigation trustee under the litigation trust agreement.

SIP Litigation: On February 4, 2005, the Litigation Trust commenced lawsuits both in the United States District Court for the Northern District of Illinois (the “Federal SIP Lawsuits”) and in the Circuit Court of Cook County Illinois (the “State SIP Lawsuits”) to collect on the remaining SIP Participants’ promissory notes.

~~Federal~~After ~~SIP~~a ~~Lawsuits:~~series ~~The~~of ~~Litigation~~hearings, ~~Trust~~motions ~~filed~~ and acounter-motions, ~~federal~~amended ~~district~~pleadings ~~court~~and ~~judge~~individual ~~entered~~bankruptcies ~~summary judgments (~~and ~~amended~~settlements, ~~judgments) against all but one of~~ the ~~SIP~~remaining ~~Participants~~State ~~who were defendants in the federal cases (the “Federal~~ SIP Defendants”) ~~on their respective SIP promissory notes,~~ and the ~~Litigation~~litigation ~~Trust~~trustee ~~commenced~~entered ~~collection~~into ~~actions~~an ~~against~~agreed ~~them. Additionally,~~Stipulation ~~the~~And ~~federal~~Order ~~district~~which, ~~court~~among ~~judge~~other ~~entered~~things, ~~orders directing~~stayed ~~that~~the ~~certain~~trials ~~CDRs~~in ~~and~~the ~~related~~state ~~proceeds~~cases ~~held~~pending by the ~~estate~~resolution ~~of Comdisco, Inc.~~ and ~~Computershare~~any ~~(f/k/a~~appeal ~~BNY Mellon) (holder~~ of ~~CDRs)~~the ontrial ~~behalf~~in ofthe ~~those~~ Federal SIP ~~Defendants be turned over to the Litigation Trust~~Lawsuits. ~~Pursuant to such orders, the Company turned over CDRs and related proceeds and will continue to do so if additional orders are entered.~~

~~The~~Following ~~Federal~~a ~~SIP~~series ~~Defendants~~of ~~filed~~motions, ~~appeals~~hearings onand ~~those~~the ~~judgments. On~~completion ~~October 18,~~of ~~2010~~discovery, the ~~Seventh~~trial ~~Circuit~~in ~~affirmed~~ the ~~rulings~~Federal inSIP ~~favor~~Lawsuits ofstarted ~~the~~on ~~Litigation~~September 24, ~~Trust~~2013 and was substantially completed on October 10, ~~but~~2013. ~~remanded~~The ~~certain~~judge ~~fraud~~heard ~~issues~~oral toarguments on April 16, 2014 and took the ~~trial~~matter ~~court~~under advisement. On ~~November~~October 121, ~~2010~~2014, the judge orally ruled and entered judgment in favor of the Federal SIP Defendants. The ~~filed~~basis aof ~~petition~~the ~~for~~judge’s aruling ~~hearing~~and ~~before~~judgment ~~the~~was ~~full~~his ~~appellate~~finding ~~panel.~~that Onboth ~~June 28,~~the ~~2011,~~bank and the ~~Seventh~~Company ~~Circuit~~committed ~~ruled~~an ~~and~~arranging ~~vacated~~violation under the ~~summary~~applicable ~~judgments~~margin ~~and~~lending ~~remanded~~regulations. Therefore, the ~~cases~~judge ~~for~~ruled ~~further~~that ~~proceedings~~the promissory notes were void and unenforceable.

10On October 29, 2014, the litigation trustee filed an appeal of the judgment to the United States Court of Appeals for the Seventh Circuit. On November 20, 2014, the Federal SIP Defendants filed a Notice of Appeal for both the October 21, 2014 judgment and an order entered on August 12, 2013.

On October 1, 2015, the litigation trustee and the remaining SIP Defendants reached a global settlement of the State SIP Lawsuits and the Federal SIP Lawsuits. See update in “Litigation Trust Reports and Settlement Update” below.

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~~Following~~Litigation aTrust ~~series~~Reports ofand ~~motions~~Settlement Update: On October 1, ~~hearings~~2015, the litigation trustee and the ~~completion~~Company ofentered ~~discovery,~~into atthe aGSA ~~hearing~~with onthe ~~July 8,~~remaining ~~2013,~~SIP ~~Judge~~Defendants. Such ~~Robert~~settlement ~~Gettleman~~under ~~set~~the aGSA ~~trial~~does ~~date~~not ~~for~~have ~~September 23,~~a ~~2013. The~~material ~~trial’s~~impact ~~actual~~on ~~start~~the ~~date~~consolidated ~~was~~financial ~~September 24, 2013~~statements. On October 216, ~~2014~~2015, the litigation ~~judge~~trustee ~~entered~~filed ~~judgment~~with inthe ~~favor~~Bankruptcy Court a motion (the “Motion”) seeking the entry of an order to (i) approve a proposed settlement with the ~~Federal~~remaining federal and state defendants who had executed promissory notes in connection with the SIP, ~~Defendants. The~~(ii) approve ~~basis~~the filing of the ~~judge’s~~final ~~ruling~~report ~~was~~of ~~his~~the ~~finding~~litigation ~~that~~trustee ~~both~~and (iii) upon the ~~bank~~wind down of the Comdisco Litigation Trust and final disbursement of its net proceeds to the ~~Company~~beneficiaries, ~~committed~~terminate anthe ~~arranging~~Comdisco ~~violation~~Litigation ~~under~~Trust and discharge the ~~applicable~~litigation ~~margin~~trustee ~~lending~~and ~~regulations~~the Comdisco Litigation Trust Advisory Board. ~~Therefore~~ On November 23, 2015, a hearing was held in the ~~promissory~~Bankruptcy ~~notes~~Court ~~were~~and ~~void~~the judge granted an order approving the Motion and ~~unenforceable~~set a hearing for April 1, 2016.

OnThe ~~October 29,~~GSA ~~2014,~~provided for the litigation trustee ~~filed~~and anthe ~~appeal~~State ofSIP ~~the~~Defendants ~~judgment~~ to ~~the~~execute ~~United~~and ~~States~~file ~~Court~~stipulations of ~~Appeals~~dismissal ~~for~~to ~~the~~dismiss ~~Seventh~~with ~~Circuit~~prejudice ~~(“Appellate Court”). On November 7, 2014,~~ the ~~court~~State ~~issued~~SIP ~~a briefing schedule~~Lawsuits. OnThe ~~November 20,~~Circuit ~~2014,~~Court ~~the Federal SIP Defendants filed a Notice~~ of ~~Appeal~~Cook ofCounty ~~the October 21, 2014 judgment and of an order~~ entered onorders ~~August 12,~~dismissing ~~2013. On November 20, 2014,~~ the ~~Federal~~State SIP ~~Defendants~~Lawsuits ~~filed~~on ~~a Motion for Extension of Time to file Bills of Costs. On~~ December 417, 2014, the judge approved this motion and allowed the Federal SIP Defendants to file their Bills of Costs after all appeals have been completed. As part of the appeal and cross-appeal, the Company and its counsel filed motions to request that certain memos, testimony and offers of proof be kept under seal. On February 3, 2015~~, the Appellate Court granted the motions~~.

OnThe ~~November 6,~~GSA ~~2014,~~provided for the ~~court~~litigation ~~scheduled~~trustee aand ~~settlement~~the ~~conference~~Federal ~~for~~SIP ~~December 9~~defendants to execute and file stipulations of dismissal to dismiss with prejudice the appeals, ~~2014~~cross-appeals, and any other pending appeals or proceedings related to the Federal SIP Lawsuits. AsOn ofDecember 24, 2015, the ~~date~~parties filed such Stipulations of ~~this~~Voluntary ~~filing~~Dismissal in the Federal SIP Lawsuits, and the ~~settlement~~Seventh ~~conference~~Circuit isentered ~~still~~orders ~~ongoing~~dismissing the appeals and cross-appeals on December 28, 2015.

OnFor ~~December 10,~~more ~~2014,~~details regarding the ~~court~~Litigation ~~suspended~~Trust ~~the~~and ~~briefing~~related ~~schedule~~proceedings, ~~for~~please ~~all~~refer ofto the ~~appeals~~Status Reports of Comdisco Litigation Trustee filed quarterly in the Bankruptcy Court. ~~Subsequently,~~ onAny ~~July 10~~proceeds collected by the Litigation Trust, ~~2015~~net of expenses, ~~the~~will ~~court~~be ~~issued~~considered aTrust ~~briefing~~Assets ~~schedule~~and ~~starting~~distributed ~~August 17,~~in ~~2015~~accordance with the Plan and ~~ending~~the ~~October 28,~~litigation ~~2015~~trust agreement.

State SIP Lawsuits: After a series of hearings, motions and counter-motions, amended pleadings and individual bankruptcies and settlements, the remaining State SIP Defendants and the litigation trustee entered into an agreed Stipulation And Order (the “Stipulation”) which, among other things, stays the trials in the state cases pending the resolution and any appeal of the trial in the federal cases. On August 12, 2013, the Stipulation was approved by Judge Tailor. On December 30, 2014, Judge Tailor placed all state cases on the Law Division Stay Calendar. The pending fraudulent conveyance actions filed by the litigation trustee against certain State SIP Defendants were continued to November 3, 2015 for a status hearing.

On July 26, 2013, Nisen and Elliott, LLC, an outside legal firm for the Company, filed a Petition to Intervene and a Motion for Protective Order in the state cases in order to preserve the Company’s attorney-client work product privilege in that litigation. Due to the state cases being placed on the Law Division Stay Calendar, this motion will not be heard until the state cases are removed from the Law Division Stay Calendar and returned back to Judge Tailor.

Litigation Trust Reports: By early 2005, sixty-nine SIP Participant’s promissory notes were transferred to the Litigation Trust. As reported in various Status Reports of Comdisco Litigation Trustee, of the sixty-nine SIP Participants: forty-one have settled or otherwise resolved their obligation; twelve have filed personal bankruptcy; and, sixteen notes remain outstanding (five in the federal court and eleven in the state court). During the quarter ended June 30, 2015, the Litigation Trust did not reach any settlements, which leaves the total number of promissory notes settled or otherwise resolved by the Litigation Trust at forty-one.

For more details regarding the Litigation Trust and related proceedings, please refer to the Status Reports of Comdisco Litigation Trustee filed quarterly in the Bankruptcy court. Any proceeds collected by the Litigation Trust, net of expenses, will be considered Trust Assets and distributed in accordance with the Plan and the litigation trust agreement.

2. Basis of Presentation and Recently Issued Accounting Pronouncements

The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules of the SEC for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America. The information furnished herein includes all adjustments, consisting of normal recurring adjustments except where indicated, which are, in the opinion of management, necessary for a fair presentation of the results of operations for these interim periods.

~~Going~~The ~~Concern~~consolidated financial statements are prepared in accordance with ASU 2013-07, Liquidation Basis of Accounting. The –liquidation ~~periods~~basis ~~prior~~of accounting requires the Company to ~~October 1~~estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation and requires management to make estimates that affect the amounts reported in the consolidated financial statements and the related notes. To the extent there are any changes in the Company’s estimates each quarter, ~~2014~~there will be changes reflected in the Statement of Changes in Net Assets in Liquidation. As cash is received or paid, consistent with the Company’s initial estimates, there will be no change to the Net Assets in Liquidation which is the amount expected to be available for eventual distribution to the common stockholders. However, any cash distribution to the common stockholders during a fiscal quarter would be shown as a change in Net Assets in Liquidation during such fiscal quarter.

The ~~consolidated~~Company ~~financial~~has ~~statements~~material ~~for~~restrictions ~~the~~on ~~periods~~its ~~ended September 30~~ability, ~~2014~~ and ~~June 30,~~ ~~2014,~~does ~~were~~not ~~prepared~~expect, onto ~~the~~make ~~going~~significant ~~concern~~investments ~~basis~~in ofnew ~~accounting,~~or ~~which~~additional ~~contemplates~~assets. ~~the~~The ~~realization~~Company ofcontinually ~~assets~~evaluates ~~and~~opportunities ~~satisfaction~~for ofthe ~~liabilities~~orderly insale ~~the~~and ~~normal~~collection ~~course~~ of ~~business~~its remaining assets.

~~Prior~~The ~~period~~Company ~~financial~~is ~~results~~currently projecting no later than December 31, 2016 as the end date for its wind down of operations. It is anticipated that by this date the Company will have, ~~not~~among ~~been~~other ~~restated~~things: ~~under~~complied with all of the terms and conditions of the GSA, reduced all of its assets to cash, resolved its final federal and state tax obligations, determined its final CDR liability (which will include the impact of the actual distribution by the Litigation Trust to the C-4 creditors), made distributions of all available cash to holders of its common stock and CDRs in the manner and priorities set forth in the Plan, cancelled such common stock and CDRs and completed all regulatory filings. Accordingly, it has made appropriate expense accruals for such time period in its calculation of Net Assets in Liquidation. However, the projected remaining wind down period could be either shorter or longer as a result of other intervening matters not currently known to management. The costs in liquidation ~~basis~~will generally be incurred ratably over the remaining anticipated time frame. If the timing of ~~accounting~~any of these steps changes, the future accrued costs may change. Results could differ from these estimates and may affect the net assets in liquidation and actual cash flows.

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Liquidation Basis of Accounting – periods beginning and subsequent to October 1, 2014

Under the Plan, the Company was charged with, and has been, liquidating its assets. While there have been no changes either to the Plan, or the Company’s obligations under it, the Company adopted ASU 2013-07, Liquidation Basis of Accounting as of October 1, 2014 and accordingly, determined that liquidation was imminent. Therefore, effective October 1, 2014, the Company applied the liquidation basis of accounting on a prospective basis in conformity with accounting principles generally accepted in the United States of America. The liquidation basis of accounting requires the Company to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation and requires management to make estimates that affect the amounts reported in the consolidated financial statements and the related notes. To the extent there are any changes in the Company’s October 1, 2014 initial estimates, there will be changes reflected in the Statement of Changes in Net Assets in Liquidation. As cash is received or paid, consistent with the Company’s initial estimates, there will be no change to the Net Assets in Liquidation which is the amount expected to be available for eventual distribution to the common stockholders. However, any cash distribution to the common stockholders during a fiscal quarter would be shown as a change in Net Assets in Liquidation during such fiscal quarter.

The Company continually evaluates opportunities for the orderly sale and collection of its remaining assets. It is anticipated that the Company will have reduced all of its assets to cash, determined its final CDR liability after the resolution of the pending SIP litigation, resolved its final federal and state tax obligations and made distributions of all available cash to holders of its common stock and CDRs in the manner and priorities set forth in the Plan and completed all regulatory filings within the next few years. At that point, the Company will cease operations. The costs in liquidation will generally be incurred ratably over the remaining anticipated time frame. If the timing of any of these steps changes, the future accrued costs may change. Results could differ from these estimates and may affect the net assets in liquidation and actual cash flows.

These consolidated financial statements of net assets in liquidation should be read in conjunction with our audited consolidated financial statements and notes thereto as of and for the year ended September 30, 2014 included in the Annual Report on Form 10-K, as filed with the SEC on December 11, 2014.

The Company has evaluated subsequent events through the date of this filing and does not believe there are any material subsequent events which would require further disclosure.

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s consolidated financial statements upon adoption.

3. ~~Cumulative~~ Equity ~~Effect of Accounting Change/Net Assets in Liquidation~~Investments

The ~~following~~Company’s isestimate aof ~~reconciliation~~the fair value of ~~Stockholder’s~~its ~~Equity~~private ~~under~~company ~~the~~investments ~~going~~was ~~concern~~made ~~basis~~in ofconsultation ~~accounting~~with toWindspeed, ~~net~~a ~~assets~~professional inmanagement ~~liquidation~~group, ~~under~~who manages the ~~liquidation~~Company’s ~~basis~~equity ofinvestments ~~accounting~~on asan ofongoing ~~October 1,~~basis. Windspeed ~~2014~~shares (in ~~thousands):~~the net

Stockholder’s Equity as of September 30, 2014	$	25,211
Increase due to estimated net realizable value of equity investments		19,349
Increase due to estimated net realizable value of other assets		157
Increase for CDR liability		(6,101)
Liability for accrued compensation		(4,086)
Liability for accrued professional fees		(4,623)
Liability for accrued other costs		(1,349)
Income taxes payable		(232)
Liability for estimated disposal costs of liquidation		(168)
Adjustment to reflect the change to the liquidation basis of accounting		2,947
Estimated value of net assets in liquidation as of October 1, 2014	$	28,158

In applying liquidation basis of accounting, the Company recognized a net increase of $2,947,000 in its estimated value of net assets in liquidation.

The net assets in liquidation as of June 30, 2015 have been reduced to $18,354,000 primarily due to a liquidating distribution during the nine months ended June 30, 2015. Therefore, the future liquidating distribution would be approximately $4.56 per common share. This estimate of the liquidating distribution includes projections of costs and expenses to be incurred during the time period

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~~estimated~~receipts tofrom ~~complete~~the sale of the ~~plan~~Company’s equity investments at a set percentage in certain designated portions of ~~liquidation~~the portfolio of companies. ~~There~~The isWindspeed ~~inherent~~February 2004 ~~uncertainty~~management agreement was extended on April 5, 2011 (with ~~these~~an ~~projections~~effective date of February 21, 2011) until February 20, 2013 (the “Initial Extension”). The Windspeed management agreement was subsequently extended effective February 21, 2013 through February 20, 2015 and ~~they~~extended ~~could~~again ~~change~~effective ~~materially~~February 12, ~~based~~2015 onthrough February 12, 2017 (the ~~timing~~“Subsequent Extensions”). Prior to the Initial Extension, Windspeed received fixed and declining management fees. Under the terms of the ~~completion~~Initial and Subsequent Extensions, Windspeed is not, and will not, be paid any ongoing management fees. In lieu of ~~all~~such management fee payment, 100% of any proceeds from certain designated companies in the ~~steps~~portfolio ~~necessary~~will ~~for~~go to Windspeed. Realized gains on the ~~liquidation~~sale of equity investments are presented on a gross basis. Any management sharing amounts with Windspeed are included in accrued professional fees. The Company has received approximately $89,239,000 in proceeds (prior to management fees and sharing) since the inception of the management agreement with Windspeed. Windspeed has received a combined $15,444,000 in management fees and sharing through December 31, 2015. The Company is currently in discussion with Windspeed to terminate the management agreement.

4. Equity Investments

The Company’s estimate of the fair value of its private company investments was made in consultation with Windspeed Acquisition Fund GP, LLC (“Windspeed”), a professional management group, who manages the Company’s equity investments on an ongoing basis. Windspeed shares in the net receipts from the sale of the Company’s equity investments at a set percentage in certain designated portions of the portfolio of companies. The Windspeed February 2004 management agreement was extended on April 5, 2011 (with an effective date of February 21, 2011) until February 20, 2013 (the “Initial Extension”). The Windspeed management agreement was subsequently extended effective February 21, 2013 through February 20, 2015 and extended again effective February 12, 2015 through February 12, 2017 (the “Subsequent Extensions”). Prior to the Initial Extension, Windspeed received fixed and declining management fees. Under the terms of the Initial and Subsequent Extensions, Windspeed is not, and will not, be paid any ongoing management fees. In lieu of such management fee payment, 100% of any proceeds from certain designated companies in the portfolio will go to Windspeed. Realized gains on the sale of equity investments are presented on a gross basis. Any management sharing amounts with Windspeed are included in accrued professional fees. The Company has received approximately $89,239,000 in proceeds (prior to management fees and sharing) since the inception of the management agreement with Windspeed. Windspeed has received a combined $15,444,000 in management fees and sharing through June 30, 2015.

Marketable equity investments:

~~During~~The ~~April 2015, the~~ Company ~~discovered~~held ~~that~~a ~~it had~~limited ~~received~~number ~~1,499~~of ~~shares~~securities in ~~NxStage~~trust ~~Medical, Inc.,~~for a ~~publicly~~deferred ~~traded~~compensation ~~company. The~~plan ~~shares~~which were ~~received~~not inavailable ~~1999~~for asdistribution ~~part~~under ofthe aPlan. ~~product~~The ~~spinoff~~trust ~~from~~for a ~~former~~deferred ~~customer~~compensation ~~who~~plan ~~subsequently~~was ~~went~~paid out ofduring ~~business. During~~ the quarter ended ~~June~~December 3031, 2015~~, these shares were sold for approximately $22,600 before Windspeed management sharing of approximately $3,400~~. ~~As of June 30, 2015, the Company does not own any shares in publicly traded companies.~~

In addition, the Company holds a limited number of securities in trust for a deferred compensation plan which are not available for distribution under the Plan.

The Company’s practice is to work in conjunction with Windspeed to sell its marketable equity securities within a reasonable period of time after the expiration of the lockup period, utilizing various timing strategies which seek to maximize the return to the Company. However, in the future, there is no assurance as to whether or not the Company either will be able to liquidate such positions held for any lockup period or realize any amount on such positions.

Equity investments in private companies:

~~Under~~As ~~the going concern basis~~ of ~~accounting~~December 31, 2015, the Company’s ~~policy~~had ~~for~~no ~~assessing the carrying value of private company~~ investments ~~was,~~ in ~~consultation~~private ~~with Windspeed, to regularly review and estimate the fair value of such investments~~companies. ~~The~~See ~~Company~~Note ~~also~~8 ~~identified~~of ~~and~~these ~~recorded~~Notes ~~impairment~~to ~~losses~~Consolidated onFinancial ~~equity~~Statement ~~investments~~(In ~~when~~Liquidation) ~~market~~for ~~and customer specific events and circumstances indicated~~ the ~~carrying~~fair value ~~might be impaired~~disclosure. ~~All write-downs were considered permanent impairments for financial reporting purposes.~~

~~As of June 30, 2015, the Company had no investments in private companies~~4. Income The Company sold its last two preferred stock holdings in private companies during the nine months ended June 30, 2015 for $433,000 and received net proceeds of $368,000 after Windspeed management sharing of $65,000. See Note 9 of these Notes to Consolidated Financial Statement (In Liquidation) for the fair value disclosure.Taxes

5The Company files income tax returns in the U. ~~Income~~S. ~~Taxes~~federal jurisdiction and the State of Illinois.

As of ~~June 30,~~the ~~2015~~date of this filing, the ~~Company~~federal ~~files~~tax ayears open to examination in the U.S. ~~Federal~~are fiscal years ended September 30, 2012 through September 30, 2014. The Company plans to file the income tax ~~return~~returns ~~and~~for athe ~~State~~fiscal year ended September 30, 2015 by March 31, 2016. As of ~~Illinois~~December 31, 2015, the Company has no estimated income tax ~~return~~payable recorded based on the estimated full year taxable loss.

As of the date of this filing, the federal tax years open to examination in the U.S. are fiscal years ended September 30, 2012 through September 30, 2014.

Uncertain Tax Positions:

The Company has no uncertain tax positions included in the Company’s consolidated statement of net assets in liquidation.

135. Other Assets

On October 9, 2014, Rakuten, a Japanese company, completed its acquisition of Ebates, Inc. (“Ebates”) and on October 29, 2014, the Company received the initial distribution. The gross proceeds distributed were approximately $17,720,000 of which the Company received approximately $15,144,000 in net proceeds and Windspeed received approximately $2,576,000 in management sharing. As of December 31, 2015, the Company holds a $2,026,000 receivable from securities sold before Windspeed management sharing related to the Ebates transaction. Such proceeds were held in escrow under the terms of the merger documents and the proceeds were received on January 19, 2016. The actual amount received was $115,000 higher than the September 30, 2015 estimate primarily due to no claims asserted against the escrow.

As of December 31, 2015 and September 30, 2015, the Company holds legally restricted cash in the amount of $4,000,000 which is an indemnification reserve set aside by the Company for any potential indemnified losses in lieu of the litigation trustee purchasing insurance coverage. As of the date of this filing, there have been no claims against this indemnification reserve.

Assets held in trust for deferred compensation plan were assets that were held in a Rabbi Trust for the benefit of deferred employee compensation that was paid out during the quarter ended December 31, 2015.

Other assets on the Consolidated Statement of Net Assets in Liquidation include such assets as accounts receivable, tax receivable, estimated recoveries and estimated accrued interest income expected to be received before liquidation.

6. Other Financial Information

The liability for accrued compensation includes payroll and estimated amounts payable under the Company’s approved compensation plans. On October 13, 2015, the Company approved payments from the Assets Held in Trust for the Deferred Compensation Plan and Accrued Compensation. Substantially all of the payments were made on November 20, 2015. There is no change in Net Assets in Liquidation as these payments were previously accrued.

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6. Other Assets

During the quarter ended September 30, 2014, it was announced that Ebates, Inc. (“Ebates”) would be acquired by Rakuten, Inc., a Japanese company (“Rakuten”). The Plan of Merger was signed on September 24, 2014, pending various conditions, including regulatory approval. On October 9, 2014, Rakuten completed the acquisition and on October 29, 2014, the Company received the initial distribution. The gross proceeds distributed were approximately $17,720,000 of which the Company received approximately $15,144,000 in net proceeds and Windspeed received approximately $2,576,000 in management sharing. The Company holds a $1,911,000 receivable from securities sold before Windspeed management sharing as of June 30, 2015 related to the Ebates transaction. Such proceeds are held in escrow under the terms of the merger documents until January 2016. The actual amount to be distributed from the escrow may be impacted by provisions of, and claims asserted against, the escrow.

The Company holds legally restricted cash in the amount of $4,000,000 as of June 30, 2015 and September 30, 2014 which is an indemnification reserve set aside by the Company for any potential indemnified losses in lieu of the litigation trustee purchasing insurance coverage.

Assets held in trust for deferred compensation plan are assets that are held in a Rabbi Trust for the benefit of deferred employee compensation and are not available for distribution under the Plan.

Other assets on the Consolidated Statement of Net Assets in Liquidation include such assets as estimated recoveries and estimated accrued interest income expected to be received before liquidation.

7. Other Financial Information

The liability for accrued compensation includes payroll and estimated amounts payable under the Company’s Bankruptcy court approved compensation plans. There is a separate liability representing the accrued liability for assets held in trust for the deferred compensation plan that was previously included in the accrued compensation liability as of September 30, 2014.

The liability for accrued professional fees includes projected future costs for outside counsel for the corporate, bankruptcy, liquidation and SEC requirements, outside accounting and audit services, consulting fees, Windspeed management sharing and corporate bankruptcy required work.

The liability for other accrued costs includes projected future costs for rent, insurance, travel, miscellaneous other corporate expenses and an accrued VAT liability for a foreign jurisdiction. The $200,000 liability pursuant to the GSA was paid during the quarter ended December 31, 2015.

The liability for accrued estimated disposal costs of liquidation includes projected future costs to ~~continue to store and~~ dispose of the Company’s paper and electronic records.

Contingent Distribution Rights

Although the CDRs trade over-the-counter, for financial reporting purposes, the Company records CDRs as a liability under ~~both~~ the ~~going concern and~~ liquidation ~~bases of accounting and as an operating expense under the going concern~~ basis of accounting.

The Plan entitled holders of CDRs to previously share at increasing percentages in the proceeds realized from the Company’s assets based upon the present value of distributions to certain C-4 creditors in the bankruptcy estate of Comdisco, Inc. However, as of ~~June~~December 3031, 2015, the sharing percentage is 37%, which is the maximum sharing percent. As of the date of this filing, there were 1,~~840~~837 holders of record of the Company’s CDRs and there were 148,448,188 outstanding CDRs. In furtherance of the GSA, the Company will repurchase approximately 3,000,000 CDRs from the litigation trustee at a discounted purchase price of approximately $0.06898 per CDR. The CDRs were acquired by the litigation trustee in the SIP Litigation. Shortly after the repurchase, the Company will cancel those CDRs. The number of holders of CDRs may, or may not, be affected by such repurchase and cancellation.

~~The~~As of October 1, 2014, the Company ~~maintains~~has ~~sufficient~~adopted ~~cash~~the ~~reserves~~liquidation ~~for~~basis ~~operations~~of ~~and~~accounting. The ~~any~~CDR ~~increase~~liability inis ~~the~~an ~~potential~~amount that is calculated as Total Assets less Total Liabilities (excluding the CDR liability) ~~relating~~times 37%. The Company continues to ~~increases~~estimate an additional CDR liability in the ~~Company’s~~amount ~~net~~of ~~assets~~$370,000 in(based ~~liquidation~~on ~~and~~the ~~any~~likely ~~potential~~anticipated ~~net~~distribution ~~distributions~~reported ~~from~~by the ~~Litigation~~litigation trustee of Trust Assets in its supplement to the ~~C-4~~final ~~creditors. The~~report ~~outcome~~filed ~~and~~with the ~~timing~~Bankruptcy ofCourt ~~the~~on ~~actual~~October 6, ~~net~~2015) ~~distributions~~and ~~from~~that ~~the~~amount ~~Litigation~~is ~~Trust~~reflected ~~will~~on ~~impact~~the ~~both~~Consolidated ~~the~~Statement ~~timing~~of ~~and~~Net ~~the~~Assets ~~amount~~in Liquidation as of ~~future~~December 31, ~~liquidating~~2015 ~~dividends~~(Liquidation ~~and~~Basis) under Liabilities at Supplemental CDR ~~payments~~Liability Due To Anticipated Litigation Trust Distribution.

~~As of October 1, 2014, the Company has adopted the liquidation basis of accounting~~7. ~~The~~ Financial ~~CDR~~Information ~~liability~~by isGeographic an amount that is calculated as Total Assets less Total Liabilities (excluding the CDR liability) times 37%. However, any impact of potential net distributions from the Litigation Trust on the CDR liability is not included because estimates are currently not determinable.Area

The Company made a CDR payment of approximately $5,550,000 during the nine months ended June 30, 2015.

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8. Financial Information by Geographic Area

Since the year ended September 30, 2013, all revenues generated and assets held are in North America.

98. Fair Value Measurements

The three levels of inputs used to measure fair value are as follows:

· Level 1 - Quoted prices in active markets for identical assets and liabilities

· Level 2 - Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

· Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

~~The~~As ~~Company~~of ~~has~~December 31, ~~included~~2015, athe ~~tabular~~only ~~disclosure for~~ financial assets that are measured at fair value on a recurring basis in the ~~consolidated~~Consolidated ~~statements~~Statements of ~~net~~Net ~~assets~~Assets in ~~liquidation~~Liquidation asare ~~of the period ending June 30~~$29,069,000 ~~2015~~held ~~and~~ in ~~the~~money ~~consolidated~~market ~~balance sheet as of the year ending September 30, 2014~~accounts. The Company currently holds no financial liabilities that are measured at fair value on a recurring basis.

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	June 30, 2015
	Level 1		Level 2		Level 3		Total Fair Value
Assets
Money market accounts	$	30,546,000	$	0	$	0	$	30,546,000
Equity Investments (A)	0		0		0		0
Assets held in trust for deferred compensation plan (C)	505,000		0		0		505,000
Total	$	31,051,000	$	0	$	0	$	31,051,000
	September 30, 2014
	Level 1		Level 2		Level 3		Total Fair Value
Assets
Money market accounts	$	31,791,000	$	0	$	0	$	31,791,000
Equity Investments (B)	0		19,631,000		748,000		20,379,000
Assets held in trust for deferred compensation plan (C)	501,000		0		0		501,000
Total	$	32,292,000	$	19,631,000	$	748,000	$	52,671,000

9. Subsequent Events

~~(A) As~~The Company held a $2,026,000 receivable from securities sold before Windspeed management sharing as of ~~June~~December 3031, 2015 related to the Ebates transaction. Such proceeds were held in escrow under the terms of the merger documents and were received on January 19, ~~all~~2016. The ~~equity~~actual ~~investments~~amount ~~have~~received ~~been~~was ~~sold~~$115,000 higher than the September 30, 2015 estimate primarily due to no claims asserted against the escrow.

~~(B) As~~ITEM ~~of September 30, 2014, equity investments for Level~~ 2. ~~and~~MANAGEMENT’S 3DISCUSSION ~~were~~AND ~~made~~ANALYSIS upOF ofFINANCIAL ~~stock~~CONDITION inAND ~~three~~RESULTS ~~privately~~OF ~~held companies; FMV on a gross basis was $20,379,000 with Windspeed management sharing of $2,965,000 and a net fair value balance of $17,414,000.~~OPERATIONS

The following discussion and analysis should be read in conjunction with the Consolidated Financial Statements (Cin liquidation) ~~Assets~~ ~~held~~and related notes included elsewhere in ~~trust~~this Quarterly Report on Form 10-Q and in the Company’s Annual Report on Form 10-K for ~~deferred~~the ~~compensation~~fiscal ~~plan~~year ~~are~~ended ~~made~~September 30, up2015, and with the information under the heading “Management’s Discussion and Analysis of ~~bonds~~Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended September 30, ~~equity~~2015. This discussion contains forward-looking information. Please see “Forward-Looking Statements” and ~~money~~Part II, Item ~~market~~1A, ~~funds~~“Risk ~~that~~Factors” ~~are~~for ~~actively~~a ~~traded~~discussion of the uncertainties, risks and assumptions associated with these statements.

~~These~~The ~~assets~~Company ~~are~~emerged ~~held~~from Chapter 11 bankruptcy proceedings on August 12, 2002. The purpose of the Company is to sell, collect or otherwise reduce to money in aan ~~Rabbi~~orderly ~~Trust~~manner ~~for~~the remaining assets of the ~~benefit~~corporation. Pursuant to the Company’s First Amended Joint Plan of ~~deferred~~Reorganization ~~employee~~(the ~~compensation~~“Plan”) and ~~are~~restrictions ~~not~~contained ~~available~~in ~~for~~the ~~distribution~~Company’s ~~under~~Certificate of Incorporation (the ~~Plan~~“Certificate”), the Company is specifically prohibited from engaging in any business activities inconsistent with its limited business purpose.

~~Reconciliation~~ The Company filed, on August 12, 2004, a Certificate of ~~financial~~Dissolution ~~assets~~with ~~measured~~the atSecretary ~~fair~~of ~~value~~State onof athe ~~recurring~~State ~~basis~~of ~~using~~Delaware ~~Level~~to 3formally ~~inputs~~extinguish the Company’s corporate existence with the State of Delaware except for the ~~period~~purpose ~~ended~~of ~~June 30,~~completing ~~2015~~the ~~and~~wind down contemplated by the ~~year~~Plan. Capitalized ~~ended~~terms ~~September~~used but not defined in the Annual Report on Form ~~30,~~10-K ~~2014~~have isthe meanings as ~~follows:~~defined in the Plan.

Change in

Decrease due

Decrease in

Decrease due

Fair Value

Unrealized

Increase due to

cost

Fair Value

September 30,

Realized

Estimated

impairment

purchase

basis

transfer from

June

2014

Value

of assets

of shares

due to sale

Level 3 to

30, 2015

Level 1

Level 3 only Equity Investments

$748,000

$ (433,000

)

$ (315,000

)

$ 0

The consolidated financial statements are prepared in accordance with ASU 2013-07, Liquidation Basis of Accounting. The liquidation basis of accounting requires the Company to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation and requires management to make estimates that affect the amounts reported in the consolidated financial statements and the related notes.

Change in

Decrease due

Decrease in

Decrease due

Fair Value

Unrealized

Increase due to

cost

Fair Value

September 30,

Realized

Estimated

impairment

purchase of

basis

transfer from

September

2013

Value

of assets

due to sale

Level 3 to

30, 2014

Level 2

Level 3 only Equity Investments

$8,875,000

$ 0

$ 11,504,000

$ (19,631,000

)

$ 748,000

The Company is currently projecting no later than December 31, 2016 as the end date for its wind down of operations. It is anticipated that by this date the Company will have, among other things: complied with all of the terms and conditions of a global settlement agreement entered into between the litigation trustee, the Company and the SIP Defendants on October 1, 2015 resolving the SIP litigation (the “GSA”), reduced all of its assets to cash, resolved its final federal and state tax obligations, determined its final CDR liability (which will include the impact of the actual distribution by the Litigation Trust to the C-4 creditors), made distributions of all available cash to holders of its common stock and CDRs in the manner and priorities set forth in the Plan, cancelled such common stock and CDRs and completed all regulatory filings. Accordingly, it has made appropriate expense accruals for such time period in its calculation of Net Assets in Liquidation. However, the projected remaining wind down period could be either shorter or longer as a result of other intervening matters not currently known to management.

16General

~~Table~~Wind-Down of ~~Contents~~Operations

InSince ~~accordance~~emerging ~~with~~from Chapter 11 bankruptcy proceedings on August 12, 2002, the ~~provisions~~Company ofhas, ~~ASC~~pursuant ~~Topic~~to ~~320~~the Plan, ~~“Accounting~~focused ~~for~~on ~~Certain~~the ~~Investments~~monetization inof ~~Debt~~its ~~and~~remaining ~~Equity~~assets. ~~Securities~~Therefore,” ~~marketable~~comparisons ~~equity~~of ~~investments~~quarter-to-quarter ~~(equity~~or ~~investments~~year-to-year ~~having~~results aof ~~readily~~operations ~~determinable~~should ~~fair~~not ~~value)~~be ~~would~~relied ~~have~~upon aas ~~carrying~~an ~~value~~indication ~~and~~of athe ~~fair~~Company’s ~~value~~future ~~based~~performance. Capitalized onterms ~~quoted~~used ~~market~~but ~~prices~~not defined in this section shall have the meanings as defined in the Plan. ~~The~~Under the Plan, the Company’s ~~practice~~was ischarged towith, ~~sell~~and has been, liquidating its ~~marketable~~assets. ~~equity~~While ~~investments~~there ~~upon~~have been no changes either to the ~~expiration~~Plan, ofor the ~~lock~~Company’s obligations under it, the Company adopted ASU 2013-up07, ~~period~~Liquidation Basis of Accounting as of October 1, 2014 and accordingly, determined that liquidation was imminent. Therefore, effective October 1, 2014, the Company applied the liquidation basis of accounting on a prospective basis.

The Company ~~does~~has ~~not~~reduced ~~own any preferred stock holdings in private companies. Previously,~~ the ~~fair~~size ~~value~~and complexity of ~~the~~its ~~Company’s~~organizational ~~private~~and ~~company~~systems ~~investments~~infrastructure ~~was~~concurrently ~~determined in consultation~~ with ~~Windspeed~~the ~~based~~monetization onof ~~the~~its ~~market~~assets. ~~approach,~~During ~~including~~2008, ~~but~~the ~~not~~Company ~~limited~~received ~~to,~~permission ~~pending offers~~ to ~~purchase~~begin the ~~preferred~~process ~~stock~~of ~~holdings,~~abandoning ~~quoted~~and ~~trading~~destroying ~~levels~~certain ~~for~~of ~~publicly-traded~~its ~~securities~~stored inpaper ~~similar industries~~ and~~/or~~ ~~markets,~~electronic ~~industry~~records ~~and~~for ~~company~~periods ~~multiples,~~prior ~~industry acceptance in the market place, liquidity discounts due~~ to ~~lock ups~~January 1, ~~estimated~~1997. As ~~revenue,~~of ~~and customer, product and market share growth by~~ the ~~respective~~date ~~companies in the portfolio. Substantially all~~ of ~~these~~this ~~factors~~filing, ~~were outside~~ the ~~control of the~~ Company ~~and were subject to significant volatility.~~destroyed

~~ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~10

~~The~~Table following discussion and analysis should be read in conjunction with the Consolidated Financial Statements (in liquidation) and related notes included elsewhere in this Quarterly Report on Form 10-Q and in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2014, and with the information under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2014. This discussion contains forward-looking information. Please see “Forward-Looking Statements” and Part II, Item 1A, “Risk Factors” for a discussion of the uncertainties, risks and assumptions associated with these statements.Contents

~~The~~substantially ~~Company~~all ~~emerged~~of ~~from~~those ~~Chapter 11 bankruptcy proceedings on August 12, 2002~~records. As ~~The~~part ~~purpose~~ of the ~~Company is to sell~~GSA, ~~collect~~the orCompany ~~otherwise~~received ~~reduce~~approval to ~~money~~destroy ~~in an orderly manner~~ the ~~remaining~~majority ~~assets~~ of ~~the~~records ~~corporation.~~prior ~~Pursuant~~ to ~~the~~2008. In ~~Company’s~~is ~~First~~anticipated ~~Amended~~that ~~Joint Plan of Reorganization (~~the ~~“Plan”)~~Company ~~and~~will ~~restrictions~~have ~~contained~~destroyed insubstantially ~~the~~all ~~Company’s Certificate~~ of ~~Incorporation~~those ~~(the~~records ~~“Certificate”),~~by the ~~Company~~quarter isended ~~specifically~~March 31, ~~prohibited~~2016. As ~~from~~of ~~engaging~~December 31, ~~in any business activities inconsistent with its limited business purpose. Accordingly~~2015, it ~~is anticipated that~~ the Company ~~will~~had ~~have~~a ~~reduced~~total ~~all~~ of ~~its~~five ~~assets~~employees to(one ~~cash~~full-time and ~~made~~four ~~distributions~~part-time), ofa ~~all~~decrease ~~available cash to holders~~ of ~~its~~approximately ~~common~~99 ~~stock~~percent ~~and~~from ~~contingent~~approximately ~~distribution~~600 ~~rights~~employees ~~(“CDRs”)~~upon inemergence ~~the~~from ~~manner~~bankruptcy ~~and~~proceedings ~~priorities~~on ~~set~~August 12, ~~forth~~2002. inThree ~~the~~to ~~Plan~~four ~~within~~consultants ~~the~~periodically ~~next~~assist ~~few years. At that point,~~ the Company ~~will~~on ~~cease~~a ~~operations~~consulting ~~and no further distributions will be made~~basis.

~~Under~~On ~~the plan~~August 12, ~~the Company was charged with~~2004, ~~and~~Randolph ~~has been, liquidating its assets~~I. ~~While there have been no changes either to the Plan, or the Company~~Thornton’s ~~obligations~~appointment ~~under it, the Company adopted ASU 2013-07, Liquidation Basis of Accounting~~ as ofInitial ~~October 1,~~Disbursing ~~2014~~Agent ~~and~~became ~~accordingly~~effective. ~~determined~~As ~~that~~Initial ~~liquidation~~Disbursing ~~was imminent. Therefore~~Agent, ~~effective October~~Mr. 1,Thornton ~~2014,~~performs the ~~Company~~roles ~~applied~~and ~~the~~responsibilities ~~liquidation basis~~ of ~~accounting~~the onBoard aof ~~prospective~~Directors ~~basis.~~and ~~The~~officers ~~liquidation basis~~ of ~~accounting requires~~ the Company, toincluding ~~estimate~~all ~~net~~measures ~~cash~~that ~~flows~~are ~~from~~necessary ~~operations and~~ to ~~accrue~~complete ~~all costs associated with implementing and completing~~ the ~~plan~~administration of ~~liquidation and requires management to make estimates that affect~~ the ~~amounts~~reorganized ~~reported~~debtors’ inPlan ~~the consolidated financial statements~~ and ~~the~~Chapter ~~related~~11 ~~notes~~cases. ~~Due~~ toMr. Thornton ~~the~~serves ~~adoption~~as ofChief ~~the~~Executive ~~liquidation~~Officer, ~~basis~~President ofand ~~accounting~~Secretary asand ofis ~~October 1, 2014,~~ the ~~comparability~~sole ofdirector ~~results~~and ofexecutive ~~operations~~officer of ~~current~~the ~~year periods to prior year periods is limited~~Company.

The Company filed, on August 12, 2004, a Certificate of Dissolution with the Secretary of State of the State of Delaware to formally extinguish Comdisco Holding Company, Inc.’s corporate existence with the State of Delaware except for the purpose ofOverview

17On July 16, 2001, Comdisco, Inc. and 50 of its domestic subsidiaries voluntarily filed for bankruptcy.

~~Table~~The Company, as the successor company to Comdisco, Inc., emerged from bankruptcy under a confirmed plan of ~~Contents~~reorganization that was effective on August 12, 2002. In accordance with the Plan, the Company became the successor to Comdisco, Inc.

~~completing~~All funds generated from the ~~wind-down~~Company’s ~~contemplated~~remaining asset portfolios are required by the ~~plan. Capitalized~~Plan ~~terms~~to be used ~~but~~to ~~not~~satisfy ~~defined~~liabilities inof ~~this~~the ~~quarterly~~Company ~~report~~and, to the extent funds are available, to pay dividends on ~~form 10-Q~~the ~~have~~Company’s Common Stock and to make distributions with respect to the ~~meanings~~CDRs asin ~~defined~~the manner and priorities set forth in the ~~plan~~Plan.

~~General~~The Company has generated all the funds it expects from the sale or collection of its remaining assets and, as of December 31, 2015, other than the escrowed proceeds from the securities sold (that were received on January 19, 2016), there are no other significant assets to be monetized by it.

~~Wind~~The Company maintains sufficient cash reserves for operations and any increase in the estimated CDR liability relating to increases in the Company’s net assets in liquidation and any future estimated net distributions from the Litigation Trust to the C-~~Down~~4 creditors. The outcome and the timing of ~~Operations~~the actual net distributions from the Litigation Trust will impact both the timing and the amount of future liquidating dividends and CDR payments.

~~Since~~As ~~emerging~~of ~~from~~October 1, ~~Chapter~~2014, 11the ~~bankruptcy~~Company ~~proceedings~~has onadopted ~~August~~the liquidation basis of accounting. The CDR liability is an amount that is calculated as Total Assets less Total Liabilities (excluding the CDR liability) times 37%. As of December 1231, ~~2002~~2015, the Company ~~has,~~estimated ~~pursuant~~an toadditional CDR liability in the ~~Plan~~amount of $370,000 ~~focused~~(based on the ~~monetization~~likely ofanticipated ~~its~~distribution ~~remaining~~reported ~~assets.~~by ~~Therefore,~~the ~~comparisons~~litigation trustee of ~~quarter-to-quarter~~Trust orAssets ~~year-to-year~~in ~~results~~its ofsupplement ~~operations~~to ~~should~~the ~~not~~final bereport ~~relied~~filed ~~upon~~with asthe anBankruptcy ~~indication~~Court ofon ~~the~~October 6, ~~Company’s~~2015) ~~future~~and ~~performance. Capitalized~~that ~~terms~~amount ~~used~~is ~~but~~reflected ~~not~~on ~~defined~~the inConsolidated ~~this~~Statement ~~section~~of ~~shall~~Net ~~have~~Assets ~~the~~in ~~meanings~~Liquidation as ~~defined~~of inDecember 31, ~~the~~2015 ~~Plan. Under~~(Liquidation ~~the~~Basis) ~~Plan,~~under ~~the~~Liabilities ~~Company~~at ~~was~~Supplemental ~~charged~~CDR ~~with,~~Liability ~~and~~Due ~~has~~To ~~been,~~Anticipated ~~liquidating~~Litigation ~~its~~Trust ~~assets~~Distribution. See ~~While~~below ~~there~~for ~~have~~“Critical ~~been~~Accounting noPolicies” ~~changes~~and ~~either~~Item to1A, ~~the~~“Risk ~~Plan,~~Factors” orin the ~~Company’s~~Annual ~~obligations~~Report ~~under~~on ~~it,~~Form 10-K for the ~~Company~~fiscal ~~adopted~~year ~~ASU~~ended ~~2013-07~~September 30, ~~Liquidation~~2015 ~~Basis~~for a discussion of ~~Accounting~~the as“Impact of ~~October 1,~~Recoveries ~~2014~~by ~~and~~Litigation ~~accordingly,~~Trust ~~determined~~on ~~that~~the ~~liquidation~~Company’s ~~was~~Obligation ~~imminent.~~To ~~Therefore,~~Make ~~effective~~Payments ~~October 1,~~in ~~2014,~~Respect ~~the~~of ~~Company~~Contingent ~~applied~~Distribution ~~the~~Rights” ~~liquidation~~and ~~basis~~“Uncertainties ofInherent ~~accounting~~in onthe aCDR ~~prospective~~Liability ~~basis~~Calculation.”

The Company has ~~reduced,~~material ~~and~~restrictions ~~expects~~on toits ~~continue to reduce~~ability, ~~the size~~ and ~~complexity~~does ofnot ~~its~~expect, ~~organizational~~to ~~and~~make ~~systems~~significant ~~infrastructure~~investments ~~concurrently~~in ~~with~~new ~~the~~or ~~monetization~~additional ~~of its~~ assets. AsThe ofCompany ~~the~~continually ~~date~~evaluates ofopportunities ~~this~~for ~~filing,~~ the ~~Company~~orderly ~~had~~sale ~~a total of five employees (one full-time~~ and ~~four~~collection ~~part-time), a decrease~~ of ~~approximately~~its 99remaining ~~percent from approximately 600 employees upon emergence on August 12, 2002~~assets. ~~Three to four consultants periodically assist the Company on a consulting basis.~~

OnThe ~~August~~Company is currently projecting no later than December 1231, ~~2004,~~2016 ~~Randolph~~as I.the ~~Thornton’s~~end ~~appointment~~date asfor ~~Initial~~its ~~Disbursing~~wind ~~Agent~~down ~~became~~of ~~effective~~operations. AsIt ~~Initial~~is ~~Disbursing~~anticipated ~~Agent~~that by this date the Company will have, ~~Mr. Thornton~~among ~~performs~~other things: complied with all of the ~~roles~~terms and ~~responsibilities~~conditions of the ~~Board~~GSA, reduced all of ~~Directors~~its assets to cash, resolved its final federal and ~~officers~~state tax obligations, determined its final CDR liability (which will include the impact of the ~~Company~~actual distribution by the Litigation Trust to the C-4 creditors), ~~including~~made ~~all~~distributions ~~measures~~of ~~that~~all ~~are~~available ~~necessary~~cash to ~~complete~~holders ~~the~~of ~~administration~~its ofcommon stock and CDRs in the ~~reorganized~~manner ~~debtors’~~and priorities set forth in the Plan, cancelled such common stock and ~~Chapter~~CDRs 11and ~~cases.~~completed Mrall regulatory filings. ~~Thornton~~ Accordingly, ~~serves~~it ashas ~~Chief~~made ~~Executive~~appropriate ~~Officer,~~expense ~~President~~accruals ~~and~~for ~~Secretary~~such ~~and~~time isperiod in its calculation of Net Assets in Liquidation. However, the ~~sole~~projected ~~director~~remaining ~~and~~wind ~~executive~~down ~~officer~~period could be either shorter or longer as a result of ~~the~~other ~~Company~~intervening matters not currently known to management.

~~Overview~~During the quarter ended December 31, 2015, the Company’s estimated net assets in liquidation increased by $319,000. The increase is a result of lower estimated disposal costs of liquidation as the Company received approval to destroy most of its records prior to 2008 and the destruction should be complete during the quarter ended March 31, 2016. Previously, the Company had accrued costs for five years of storage of these records. The net assets in liquidation also increased due to the increase in receivable from securities sold.

~~On July 16, 2001, Comdisco, Inc. and 50 of its domestic subsidiaries voluntarily filed for bankruptcy.~~11

~~Comdisco~~Table ~~Holding Company, Inc., as the successor company to Comdisco, Inc., emerged from bankruptcy under a confirmed plan~~ of ~~reorganization that was effective on August 12, 2002. In accordance with the Plan, Comdisco Holding Company, Inc. became the successor to Comdisco, Inc.~~Contents

~~Since~~The ~~the~~ Company ~~emerged from Chapter 11 bankruptcy proceedings on August 12, 2002, the Company~~’s ~~business~~operations ~~activities~~continued ~~have been limited~~ to ~~the orderly sale or run~~wind-~~off~~down ofduring ~~all of its existing asset portfolios. Pursuant to~~ the ~~Plan~~three ~~and~~months ~~restrictions~~ended ~~contained in its Certificate~~December 31, ~~the Company is specifically prohibited from engaging in any business activities inconsistent with its limited business purpose~~2015. ~~Since~~The ~~emerging from bankruptcy, the~~ Company has not engaged in any new leasing or financing activities, except for previously existing customer commitments and to restructure existing equipment leases and loans to maximize the value of the Company’s assets. ~~Under~~at ~~the Plan~~December 31, ~~the~~2015 ~~Company~~consisted ~~was~~primarily ~~charged~~of ~~with,~~cash and ~~has been, liquidating its assets. While there have been no changes either to the Plan, or the Company’s obligations under it, the Company adopted ASU 2013~~cash-07equivalents, ~~Liquidation~~receivable ~~Basis~~from ofsecurities ~~Accounting~~sold asand ofother ~~October 1,~~assets. The ~~2014~~timing and ~~accordingly,~~amount ~~determined~~of ~~that liquidation was imminent. Therefore~~receipt, ~~effective~~if ~~October 1~~any, ~~2014, the Company applied the liquidation basis~~ of ~~accounting~~such onother aassets ~~prospective~~are ~~basis~~uncertain.

~~The~~Equity ~~Company~~Investments: ~~maintains~~As ~~sufficient~~of ~~cash~~December 31, ~~reserves~~2015, ~~for operations and any increase in~~ the ~~potential CDR liability relating to increases in the~~ Company’s ~~net~~does ~~assets~~not inown ~~liquidation and~~ any ~~potential~~shares ~~net~~in ~~distributions~~publicly ~~from~~traded ~~the Litigation Trust to C-4 creditors~~companies. ~~The~~See ~~outcome~~Notes ~~and~~3 ~~timing of any actual net distributions from the Litigation Trust will impact both the timing~~ and ~~the~~8 ~~amount~~ of ~~future~~Notes ~~liquidating~~to ~~dividends~~Consolidated ~~and~~Financial ~~CDR~~Statements ~~payments~~(in Liquidation).

The Company’s ~~has~~estimate ~~material~~of ~~restrictions~~the onfair ~~its~~value ~~ability,~~of ~~and~~its ~~does~~private ~~not~~company ~~expect,~~investments towas ~~make~~previously ~~significant~~made ~~investments~~ in ~~new~~consultation orwith ~~additional~~Windspeed ~~assets.~~Acquisition ~~The~~Fund ~~Company~~GP, ~~continually~~LLC ~~evaluates~~(“Windspeed”), ~~opportunities~~a ~~for~~professional ~~the~~management ~~orderly~~group, ~~sale~~which ~~and~~the ~~collection~~Company ofengaged ~~its~~in ~~remaining~~February 2004 ~~assets. It~~to ismanage ~~anticipated that~~ the Company’s ~~will~~equity ~~have~~investments ~~reduced~~on ~~all~~an ofongoing ~~its~~basis. Windspeed ~~assets~~shares toin ~~cash,~~the ~~determined~~net ~~its~~receipts ~~final~~from ~~CDR liability after~~ the ~~resolution~~sale of the ~~pending~~Company’s ~~SIP~~equity ~~litigation,~~investments ~~resolved~~at ~~its~~a ~~final~~set ~~federal~~percentage ~~and~~in ~~state~~certain ~~tax~~designated ~~obligations~~portions ~~and~~of ~~made~~the ~~distributions~~portfolio of ~~all~~companies. The ~~available~~estimate ~~cash to holders~~ of ~~its common stock and CDRs in~~ the ~~manner~~fair ~~and~~value ~~priorities~~of ~~set~~its ~~forth~~private incompany ~~the~~equity ~~Plan~~portfolio ~~and~~is ~~completed~~zero ~~all~~at ~~regulatory filings within the next few years. At that point~~December 31, ~~the Company will cease operations~~2015.

~~During~~The Windspeed management agreement was extended on April 5, 2011 (with an effective date of February 21, 2011) until February 20, 2013 (the ~~quarter~~“Initial ~~ended~~Extension”). The ~~June~~Windspeed management agreement was subsequently extended effective February 3021, 2013 through February 20, 2015 and again extended effective February 12, ~~the~~2015 ~~Company’s~~through ~~estimated~~February 12, ~~net~~2017 ~~assets~~(the in“Subsequent ~~liquidation~~Extensions”). Prior ~~increased~~to bythe ~~$34~~Initial Extension,~~000~~ Windspeed received fixed and declining management fees. ~~The~~Under ~~increase~~the terms of the Initial and Subsequent Extensions, Windspeed is anot, ~~result~~and ofwill ~~lower~~not, ~~estimated~~be ~~future~~paid ~~legal~~any ongoing management fees. In ~~and~~lieu ~~increases~~of such management fee payment, 100% of any proceeds from certain designated companies in the ~~estimated~~portfolio ~~liquidation~~will ~~value~~go to Windspeed. Realized and unrealized gains on the sale of ~~other~~equity ~~assets~~investments are presented on a gross basis. Any management sharing amounts with Windspeed are included in accrued professional fees. The Company is currently in discussion with Windspeed to terminate the management agreement.

18Collections and recoveries: As of December 31, 2015, the Company had no significant potential collections and recoveries. Prior recoveries involved former lessees or debtors now in bankruptcy and against whom the Company has filed and was pursuing claims to maximize its recoveries. The Company’s cost basis in these accounts was nominal. Additionally, the Company, periodically, recovers unclaimed property from various states.

~~Table~~Critical ofAccounting ~~Contents~~Policies

The Company’s ~~operations~~consolidated ~~continued~~financial tostatements ~~wind-down~~are ~~during~~prepared ~~the~~in ~~three~~accordance ~~months~~with ~~ended~~U.S. ~~June 30~~generally accepted accounting principles under ASU 2013-07, ~~2015.~~Liquidation Basis of Accounting. The ~~Company’s~~liquidation ~~assets~~basis atof ~~June 30,~~accounting ~~2015~~requires ~~consisted~~management ~~primarily~~to use estimates that affect reported amounts of ~~cash~~assets and ~~cash-equivalents~~liabilities, ~~receivable~~revenues ~~from~~and ~~securities~~expenses, ~~sold~~ and ~~other~~disclosure of contingent assets and liabilities. ~~The~~These ~~timing~~estimates ~~and~~are ~~amount~~subject ofto ~~receipt,~~known ifand ~~any~~unknown risks, ofuncertainties ~~such~~and other factors that could materially impact the amounts reported and disclosed in the consolidated statement of net assets ~~are~~in ~~uncertain~~liquidation.

~~Equity Investments:~~ The ~~Company~~SEC ~~sold~~issued ~~its~~Financial ~~last~~Reporting ~~two~~Release ~~preferred stock holdings in private companies during the nine months ended June 30, 2015 for $433,000 and received net proceeds of $368,000 after Windspeed management sharing of $65,000~~No. ~~Beginning October~~ 160, ~~2014,~~“Cautionary ~~these~~Advice ~~investments~~Regarding ~~were~~Disclosure ~~carried~~About atCritical ~~the~~Accounting ~~liquidation basis of accounting in the Company’s consolidated statement of net assets in liquidation. During April 2015~~Policies,” ~~the~~which ~~Company~~recommends ~~discovered~~ that it had received 1,499 shares in NxStage Medical, Inc., a publicly traded company. The shares were received in 1999 as part of a product spinoff from a former customer who subsequently went out of business. During the quarter ended June 30, 2015, these shares were sold for approximately $22,600 before Windspeed management sharing of approximately $3,400. As of June 30, 2015, the Company does not own any shares in publicly traded companies~~. See~~ ~~Notes~~provide 4additional disclosure and 9analysis of ~~Notes~~those toaccounting ~~Consolidated~~policies ~~Financial~~considered ~~Statements~~most ~~(in Liquidation)~~critical.

The Company’s ~~estimate~~believes of the ~~fair~~following value of its private company investments was made in consultation with Windspeed Acquisition Fund GP, LLC (“Windspeed”), a professional management group, which the Company engaged in February 2004 to ~~manage~~be the ~~Company’s~~most ~~equity~~critical ~~investments~~judgment onarea ~~an ongoing basis. Windspeed shares~~ in the ~~net~~application ~~receipts from the sale~~ of ~~the~~its ~~Company’s~~accounting ~~equity investments at a set percentage in certain designated portions of the portfolio of companies.~~policies:

~~The~~· Future ~~Windspeed~~Cash ~~management~~Inflows ~~agreement~~and ~~was~~Future ~~extended~~Outflows: onThe ~~April 5,~~liquidation ~~2011~~basis ~~(with an effective date~~ of ~~February 21,~~accounting ~~2011)~~requires ~~until February 20, 2013 (~~the ~~“Initial~~estimation ~~Extension”). The~~of ~~Windspeed~~and ~~management~~accrual ~~agreement~~of ~~was~~all ~~subsequently~~projected ~~extended~~future ~~effective~~cash ~~February 21,~~inflows ~~2013 through February 20, 2015~~ and ~~again~~future ~~extended~~outflows ~~effective~~associated ~~February 12,~~with ~~2015~~implementing ~~through February 12, 2017 (the “Subsequent Extensions”). Prior to the Initial Extension, Windspeed received fixed~~ and ~~declining~~completing ~~management fees. Under~~ the ~~terms~~plan of ~~the~~liquidation ~~Initial~~ and ~~Subsequent~~requires ~~Extensions,~~management ~~Windspeed~~to ismake ~~not,~~estimates ~~and~~that ~~will~~affect ~~not,~~the beamounts ~~paid~~reported ~~any~~in ~~ongoing~~the ~~management~~consolidated ~~fees. In~~statements ~~lieu~~ of ~~such~~net ~~management~~assets ~~fee payment, 100% of any proceeds from certain designated companies~~ in ~~the~~liquidation ~~portfolio will go to Windspeed. Realized~~ and ~~unrealized gains on~~ the ~~sale~~related ofnotes. ~~equity~~Results ~~investments~~could ~~are~~differ ~~presented~~from onthese aestimates ~~gross~~and ~~basis.~~may ~~Any~~affect ~~management~~the ~~sharing~~net ~~amounts~~assets ~~with~~in ~~Windspeed~~liquidation ~~are~~and ~~included~~actual incash ~~accrued professional fees~~flows.

The ~~following~~above ~~table~~listing ~~summarizes~~is not intended to be a comprehensive list of all the ~~changes~~Company’s inaccounting policies. Please refer to the ~~estimated~~Company’s ~~value~~annual ofConsolidated Financial Statements and notes thereto included in the Company’s ~~equity~~Annual ~~investments~~Report ~~since~~on Form 10-K for the fiscal year ended September 30, ~~2014~~2015, (which contain the Company’s significant accounting policies and other disclosures required by accounting principles generally accepted in ~~thousands):~~the United States of America.

		Private Companies (1) (2)			Public Companies (2) (3)
September 30, 2014 estimated gross realizable value	$	20,379		$	0
Realized (4)		(20,064)			(23)
Increase (decrease) in net unrealized estimated value		(315	)		23
June 30, 2015 estimated gross realizable value	$	0		$	0

Recent Developments

(1)	The Company sold its last three preferred stock holdings in private companies during the nine months ended June 30, 2015.
(2)	Fair market value is shown on a gross basis (prior to payment of management sharing to Windspeed pursuant to the extended management agreement).
(3)	The Company sold 1,499 shares of NxStage Medical, Inc. during the quarter ended June 30, 2015.
(4)	Of the total realized amount from the Ebates, Inc. (“Ebates”) transaction of $19,631,000: the Company received cash proceeds after Windspeed sharing of $15,144,000; $2,576,000 has been paid to Windspeed; the remaining amount due is $1,911,000, before Windspeed management sharing, and is held in escrow until January 2016 in a receivable for securities sold.

Ebates

~~Collections~~On ~~and~~October 9, ~~recoveries:~~2014, ~~As of June~~Rakuten, 30Inc., ~~2015,~~a ~~the~~Japanese ~~Company~~company, ~~had~~completed noits ~~significant~~acquisition ~~potential~~of ~~collections~~Ebates and ~~recoveries. Prior~~on ~~recoveries~~October 29, ~~involved~~2014, ~~former~~the ~~lessees~~Company orreceived ~~debtors now in bankruptcy and against whom~~ the ~~Company~~initial ~~has~~distribution. The ~~filed~~gross ~~and~~proceeds ~~was~~distributed ~~pursuing~~were ~~claims~~approximately to$17,720,000 ~~maximize~~of ~~its~~which ~~recoveries. The~~the Company’s ~~cost~~received ~~basis~~approximately $15,144,000 in ~~these~~net ~~accounts~~proceeds ~~was~~and ~~nominal. Additionally,~~Windspeed ~~the~~received ~~Company,~~approximately ~~periodically~~$2,576,000 ~~recovers~~in ~~unclaimed~~management ~~property from various states~~sharing. As

~~Critical Accounting Policies~~12

~~The~~Table ~~Company’s~~of consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles. Under the Plan, the Company was charged with, and has been, liquidating its assets. While there have been no changesContents

of December 31, 2015, the Company holds a $2,026,000 receivable from securities sold before Windspeed management sharing related to the Ebates transaction. Such proceeds were held in escrow under the terms of the merger documents and the proceeds were received on January 19, 2016. The actual amount received was $115,000 higher than the September 30, 2015 estimate primarily due to no claims asserted against the escrow.

~~Table~~Results of ~~Contents~~Operations

~~either~~Under to the ~~Plan,~~liquidation orbasis of accounting, the Company’s ~~obligations~~is ~~under~~required ~~it,~~to ~~the~~present ~~Company~~a ~~adopted~~statement ~~ASU~~of ~~2013-07,~~net ~~Liquidation~~assets ~~Basis~~in ofliquidation ~~Accounting~~(which asreplaces ofthe ~~October 1,~~balance ~~2014~~sheet) and ~~accordingly,~~a ~~determined~~statement ~~that~~of ~~liquidation~~changes ~~was~~in ~~imminent.~~net ~~Therefore,~~assets ~~effective~~in ~~October 1,~~liquidation ~~2014,~~(which replaces the ~~Company~~income ~~applied~~statement). To the ~~liquidation~~extent ~~basis~~there ofare ~~accounting~~any onchanges ain ~~prospective~~the ~~basis. As~~Company’s ~~such~~estimates each quarter, ~~the~~there ~~preparation~~will ofbe changes reflected in the ~~fiscal~~Statement ~~year~~of ~~2015~~Changes ~~financial~~in ~~statements~~Net ~~are~~Assets ~~under~~in ~~the~~Liquidation. As ~~liquidation~~cash ~~basis~~is ofreceived ~~accounting~~or ~~which~~paid, ~~requires~~consistent ~~management~~with tothe ~~use~~Company’s initial estimates, ~~that~~there ~~affect~~will ~~reported~~be ~~amounts~~no ofchange ~~assets~~to ~~and~~the ~~liabilities,~~Net ~~revenues~~Assets ~~and~~in ~~expenses,~~Liquidation ~~and~~which ~~disclosure~~is ofthe ~~contingent~~amount ~~assets~~expected ~~and~~to ~~liabilities. These~~be ~~estimates~~available ~~are~~for ~~subject~~eventual distribution to ~~known~~the ~~and~~common ~~unknown risks~~stockholders. However, ~~uncertainties~~any ~~and~~cash ~~other~~distribution ~~factors~~to ~~that~~the ~~could~~common ~~materially~~stockholders ~~impact~~during ~~the~~a ~~amounts~~fiscal ~~reported~~quarter ~~and~~would ~~disclosed~~be inshown ~~the~~as ~~consolidated~~a ~~statement~~change ofin ~~net~~Net ~~assets~~Assets in ~~liquidation~~Liquidation during such fiscal quarter.

~~The~~Changes ~~SEC~~in ~~issued~~Net ~~Financial~~Assets ~~Reporting~~in ~~Release~~Liquidation ~~No. 60,~~(Liquidation ~~“Cautionary~~Basis) ~~Advice~~for ~~Regarding~~the ~~Disclosure~~three ~~About~~months ~~Critical~~ended ~~Accounting Policies~~December 31,” ~~which recommends that companies provide additional disclosure and analysis of those accounting policies considered most critical.~~2015

The Company believes the following to be the most critical judgment area in the application of its accounting policies:

		Three months ended December 31, 2015 (Liquidation Basis) (Unaudited)	Explanation of Change

Net assets in liquidation, beginning of period	$	18,042
Changes in net assets in liquidation
Change in other assets		121	(A)
Change in Contingent Distribution Rights Liability		(187)	(B)
Change in accrued liabilities		16
Change in accrued estimated disposal costs of liquidation		369	(C)
Liquidating distribution to Common Stockholders		0
Net increase in net assets in liquidation		319
Net assets in liquidation, end of period	$	18,361

~~· Future~~(A) Increase Cash Inflows and Future Costs: As of October 1, 2014, the Company has adopted the liquidation basis of accounting on a prospective basis which requires the estimation of and accrual of all projected future cash inflows and future costs associated with implementing and completing the plan of liquidation and requires management to make estimates that affect the amounts reported in ~~the~~receivable ~~consolidated statements of net assets in liquidation and the related notes. Results could differ~~ from ~~these~~securities ~~estimates~~sold ~~and~~primarily ~~may~~due ~~affect~~to the ~~net~~Ebates ~~assets~~escrow inhaving ~~liquidation~~no ~~and~~claims ~~actual~~assessed ~~cash~~against ~~flows~~it.

~~The~~(B) Increase ~~above listing is not intended~~ to ~~be a comprehensive list of all~~ the ~~Company’s~~CDR ~~accounting~~liability ~~policies. Please refer to the Company’s annual Consolidated Financial Statements and notes thereto included~~ in the ~~Company’s~~three ~~Annual~~months ~~Report on Form 10-K for the fiscal year~~ ended ~~September~~December 3031, ~~2014,~~2015 ~~which~~is ~~contain~~a ~~the~~result ~~Company’s~~of ~~significant~~lower ~~accounting~~accrued ~~policies~~estimated ~~and~~disposal ~~other~~costs ~~disclosures~~of ~~required~~liquidation byand ~~accounting~~higher ~~principles~~receivable ~~generally~~from ~~accepted~~securities ~~in the United States of America~~sold.

~~Recent~~(C) Decrease ~~Developments~~in accrued estimated disposal costs of liquidation as destruction of its records prior to 2008 has been approved and the destruction has started.

~~Ebates~~Income Taxes

During the quarter ended September 30, 2014, it was announced that Ebates would be acquired by Rakuten, Inc., a Japanese company (“Rakuten”). The Plan of Merger was signed on September 24, 2014, pending various conditions, including regulatory approval. As of ~~September~~December 3031, ~~2014~~2015, the Company ~~concluded~~has ~~that~~no ~~the~~estimated ~~offer~~income ~~price~~tax ~~should~~payable berecorded ~~the~~based ~~primary~~on ~~input into~~ the ~~fair~~estimated ~~value~~full ~~measurement~~year oftaxable ~~Ebates~~loss.

OnNet ~~October 9,~~Assets 2014, Rakuten completed the acquisition and on October 29, 2014, the Company received the initial distribution. The gross proceeds distributed were approximately $17,720,000 of which the Company received approximately $15,144,000 in net proceeds and Windspeed received approximately $2,576,000 in management sharing. The remaining amount due is approximately $1,911,000, before Windspeed management sharing, and is held in a receivable from securities sold on the consolidated statement of net assets in liquidation. Such proceeds are held in escrow under the terms of the merger documents until January 2016. The actual amount to be distributed from the escrow may be impacted by provisions of, and claims asserted against, the escrow.Liquidation

~~With~~As ~~the adoption~~ of ~~the~~December 31, ~~liquidation basis of accounting~~2015, ~~the~~net ~~impact~~assets ofin ~~the~~liquidation ~~Ebates~~were ~~transaction~~approximately ~~was~~$18,361,000, ~~included~~or in$4.56 ~~the~~per ~~Cumulative~~common ~~Effect~~share. As of ~~Accounting~~December 31, ~~Change.~~2014, ~~The~~net ~~amount~~assets ~~included~~in ~~reflected~~liquidation ~~the~~were ~~estimated~~approximately ~~cash~~$27,984,000, ~~that~~or ~~would~~$6.95 beper ~~received~~common asshare. The ofdecrease is the ~~date~~result of ~~adoption. See~~the ~~Note~~Liquidating 3distribution ofto ~~Notes~~Common toStockholders ~~Consolidated~~during ~~Financial~~the ~~Statements~~quarter ~~(In~~ended ~~Liquidation)~~March 31, 2015.

~~Results~~Off-Balance ofSheet ~~Operations~~Arrangements

~~Due~~The to the adoption of the liquidation basis of accounting as of October 1, 2014, the comparability of results of operations of current year periods to prior year periods is limited. Under the liquidation basis of accounting, the Company isdoes ~~required~~not tomaintain ~~present~~any ~~a statement of net assets in liquidation (which replaces the~~ off-balance sheet) ~~and a statement of changes in net assets in liquidation (which replaces the income statement). To the extent there are any changes in the Company’s October 1~~arrangements, ~~2014 initial estimates~~transactions, ~~there~~obligations ~~will be changes reflected in the Statement of Changes in Net Assets in Liquidation. As cash is received~~ or ~~paid,~~other ~~consistent~~relationships with ~~the~~unconsolidated ~~Company’s~~entities ~~initial~~that ~~estimates,~~could ~~there will~~ be ~~no change to the Net Assets in Liquidation which is the amount~~ expected to behave ~~available~~a ~~for~~material ~~eventual~~current ~~distribution~~or tofuture ~~the~~effect ~~common~~upon ~~stockholders. However, any cash distribution to~~ the ~~common~~Company’s ~~stockholders~~financial ~~during~~condition aor ~~fiscal~~results ~~quarter~~of ~~would be shown as a change in Net Assets in Liquidation during such fiscal quarter~~operations.

2013

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~~Changes~~Liquidity inand ~~Net~~Capital ~~Assets in Liquidation (Liquidation Basis) for the three months ended June 30, 2015~~Resources

		Three months ended June 30, 2015 (Liquidation Basis) (Unaudited)	Explanation of Change
Net assets in liquidation, beginning of period	$	18,320
Changes in net assets in liquidation
Change in other assets		37	(A)
Change in Contingent Distribution Rights Liability		(19)	(B)
Change in accrued liabilities		20	(C)
Change in accrued estimated disposal costs of liquidation		0
Change in equity investments		(4)
Liquidating distribution to Common Stockholders		0
Net increase in net assets in liquidation		34
Net assets in liquidation, end of period	$	18,354

The liquidation basis of accounting requires the Company to estimate net cash flows from operations and to accrue all costs associated with implementing and completing the plan of liquidation and requires management to make estimates that affect the amounts reported in the consolidated financial statements in liquidation and the related notes. Actual results could differ from these estimates and may affect net assets in liquidation and actual cash flows.

The Company’s liquidity generally depends on cash on hand. The Company has generated all the funds it expects from the sale or collection of its remaining assets and, as of December 31, 2015, other than the escrowed proceeds from the securities sold (Athat were received on January 19, 2016) ~~Increase~~, inthere ~~estimated~~are ~~future~~no ~~accrued~~other ~~interest~~significant ~~income~~assets to be monetized by it.

~~(B) Increase~~At toDecember 31, 2015, the ~~CDR~~Company ~~liability~~had unrestricted cash and cash equivalents of approximately $29,214,000, which represents a decrease of approximately $912,000 compared to September 30, 2015. Net cash used in operating activities for the three months ended ~~June~~December 3031, 2015 iswas aapproximately ~~result~~$1,415,000. Net ofcash ~~higher~~provided ~~estimated~~by ~~other~~investing ~~assets~~activities ~~and~~for ~~lower~~the ~~accrued~~three ~~liabilities~~months ended December 31, 2015 was approximately $503,000 from the receipt of Assets Held in Trust for ~~estimated~~the ~~legal~~Deferred ~~fees~~Compensation Plan.

During the three months ended December 31, 2015, approximately $63,000 was received from bad debt recoveries, interest income and other inflows. The Company’s cash expenditures were primarily operating expenses of approximately $1,069,000 (Cprincipally professional services and employee compensation) ~~Decrease~~ inand ~~accrued~~a ~~liabilities~~payment of Assets Held in Trust for ~~lower~~the ~~estimated~~Deferred ~~future~~Compensation ~~legal~~Plan ~~fees~~of approximately $409,000.

~~Changes in Net Assets in Liquidation (Liquidation Basis) for the nine months ended June 30, 2015~~Dividends

		Nine months ended June 30, 2015 (Liquidation Basis) (Unaudited)	Explanation of Change
Net assets in liquidation, beginning of period	$	28,158
Changes in net assets in liquidation
Change in other assets		(29)
Change in Contingent Distribution Rights Liability		209	(A)
Change in accrued liabilities		(154)	(B)
Change in accrued estimated disposal costs of liquidation		(420)	(C)
Change in equity investments		40
Liquidating distribution to Common Stockholders		(9,450)	(D)
Net (decrease) in net assets in liquidation		(9,804)
Net assets in liquidation, end of period	$	18,354

The Company paid no dividends during the quarters ended December 31, 2015 or December 31, 2014. Comdisco intends to treat the dividend distributions for federal income tax purposes as part of a series of liquidating distributions in complete liquidation of the Company.

~~(A) Reduction~~Contingent toDistribution the CDR liability in the nine months ended June 30, 2015 is a result of lower estimated other assets, lower net proceeds from the sale of equity investments, higher accrued estimated record storage and disposal costs in the liquidation and higher accrued liabilities for travel and legal fees.Rights

~~(B) Increase~~Although inthe ~~accrued~~CDRs ~~liabilities~~trade over-the-counter, for ~~estimated~~financial ~~future~~reporting ~~travel~~purposes, ~~and~~the ~~legal~~Company ~~fees~~records CDRs as a liability under the liquidation basis of accounting.

~~(C) Increase~~The Plan entitled holders of CDRs to previously share at increasing percentages in the ~~accrued~~proceeds ~~estimated~~realized ~~record~~from ~~storage~~the ~~and~~Company’s ~~disposal~~assets ~~costs~~based upon the present value of distributions to certain C-4 creditors in the ~~liquidation~~bankruptcy estate of Comdisco, Inc. However, as of December 31, 2015, the sharing percentage is a37%, ~~result~~which is the maximum sharing percent. As of the ~~projected~~date ~~additional~~of ~~length~~this filing, there were 1,837 holders of ~~time~~record toof ~~store~~the Company’s CDRs and ~~then~~there ~~ultimately~~were ~~dispose~~148,448,188 outstanding CDRs. In furtherance of the ~~paper~~GSA, ~~records~~the ~~and~~Company ~~electronic~~will ~~records~~repurchase approximately 3,000,000 CDRs from the litigation trustee at a discounted purchase price of approximately $0.06898 per CDR. The CDRs were acquired by the litigation trustee in the SIP Litigation. Shortly after the repurchase, the Company will cancel those CDRs. The number of holders of CDRs may, or may not, be affected by such repurchase and cancellation.

~~(D)~~ The Company ~~paid~~maintains asufficient ~~liquidating~~cash ~~distribution~~reserves for operations and any increase in the estimated CDR liability relating to ~~Common~~increases ~~Stockholders~~in onthe ~~March 12,~~Company’s ~~2015~~net ~~for~~assets ~~approximately~~in ~~$9,450,000~~liquidation and any future estimated net distributions from the Litigation Trust to the C-4 creditors. The outcome and the timing of the actual net distributions from the Litigation Trust will impact both the timing and the amount of future liquidating dividends and CDR payments.

21As of October 1, 2014, the Company has adopted the liquidation basis of accounting. The CDR liability is an amount that is calculated as Total Assets less Total Liabilities (excluding the CDR liability) times 37%. As of December 31, 2015 and September 30, 2015, the Company estimated an additional CDR liability in the amount of $370,000 (based on the likely anticipated distribution reported by the litigation trustee of Trust Assets in its supplement to the final report filed with the Bankruptcy Court on October 6, 2015) and that amount is reflected on the Consolidated Statement of Net Assets in Liquidation as of December 31, 2015 (Liquidation Basis) under Liabilities at Supplemental CDR Liability Due To Anticipated Litigation Trust Distribution.

~~Table~~CDR ~~of Contents~~Payment

~~Income~~The ~~Taxes~~Company made no contingent distribution rights payments during the quarters ended December 31, 2015 or December 31, 2014.

~~As of June 30, 2015, the Company has an income tax payable recorded for approximately $50,000, driven by the Federal Alternative Minimum Tax due on the estimated full year taxable income.~~14

~~Net~~Table ~~Assets~~of ~~in Liquidation~~Contents

As of June 30, 2015, net assets in liquidation were approximately $18,354,000, or $4.56 per common share.

Net earnings (Going Concern)

Net earnings were approximately $633,000, or $0.16 per share-basic and diluted, for the three months ended June 30, 2014. Net earnings were approximately $663,000, or $0.16 per share-basic and diluted, for the nine months ended June 30, 2014.

Off-Balance Sheet Arrangements

The Company does not maintain any off-balance sheet arrangements, transactions, obligations or other relationships with unconsolidated entities that could be expected to have a material current or future effect upon the Company’s financial condition or results of operations.

Liquidity and Capital Resources

The Company’s liquidity generally depends on cash on hand. The Company’s cash flow from operating activities is dependent on a number of variables, including, but not limited to, operating costs and expenses to affect the wind down, income tax obligations, and the ability of the Company to dispose or otherwise convert to cash its remaining assets. All funds generated from the collection of remaining assets are required by the Plan to be used to satisfy liabilities of the Company and, to the extent funds are available, to pay dividends on the Company’s common stock and to make distributions with respect to the CDRs in the manner and priorities set forth in the Plan. Because of the composition and nature of its remaining assets, the Company expects to generate funds from the sale or collection of its remaining assets at a decreasing rate over time.

At June 30, 2015, the Company had unrestricted cash and cash equivalents of approximately $30,671,000, which represents a decrease of approximately $1,321,000 compared to September 30, 2014. Net cash provided by operating activities for the nine months ended June 30, 2015 was approximately $8,117,000. Net cash used in financing activities for the nine months ended June 30, 2015 was approximately $9,438,000 for the payment of dividends.

During the nine months ended June 30, 2015, approximately $15,532,000 in proceeds were generated from the sales of Equity Investments and approximately $261,000 was received from bad debt recoveries, interest income and other inflows. The Company’s cash expenditures were primarily operating expenses of approximately $1,875,000 (principally professional services and employee compensation). The Company paid $176,000 to the Internal Revenue Service and paid $75,000 to the Illinois Department of Revenue. The Company made payments to CDR holders in the amount of $5,550,000.

The Company’s current and future liquidity depends on cash on hand and may be augmented by receipt of funds held in escrow from the sale of equity investments, recoveries, if any, and interest income. The Company expects its cash on hand to be sufficient to fund operations and to meet its obligations (including its obligation to make distributions to its common stockholders and make payments to CDR holders) under the Plan.

Dividends

On February 20, 2015, the Company issued a press release announcing that its Board of Directors had declared a cash dividend of $2.3455 per share on the outstanding shares of its Common Stock (an aggregate distribution of approximately $9,450,000). This was paid on March 12, 2015 to common stockholders of record as of March 2, 2015. Comdisco intends to treat the dividend distributions for federal income tax purposes as part of a series of liquidating distributions in complete liquidation of the Company.

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Contingent Distribution Rights

Although the CDRs trade over-the-counter, for financial reporting purposes, the Company records CDRs as a liability and as an operating expense.

The Company maintains sufficient cash reserves for operations and any increase in the potential CDR liability relating to increases in the Company’s net assets in liquidation and any potential net distributions from the Litigation Trust to the C-4 creditors. The outcome and the timing of the actual net distributions from the Litigation Trust will impact both the timing and the amount of future dividends and CDR payments.

As of October 1, 2014, the Company has adopted the liquidation basis of accounting. The CDR liability is an amount that is calculated as Total Assets less Total Liabilities (excluding the CDR liability) times 37%. However, any impact of potential net distributions from the Litigation Trust on the CDR liability is not included because estimates are currently not determinable.

CDR Payment

On February 20, 2015 the Company announced that it would make a cash payment of $0.03739 per CDR, (an aggregate payment of approximately $5,550,000). This was paid on March 12, 2015 to CDR holders of record as of March 2, 2015.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable

ITEM 4. CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

Randolph I. Thornton, the principal executive officer and principal financial officer of the Company, has evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report. Based on such evaluation, Mr. Thornton concluded that the Company’s disclosure controls and procedures are effective as of ~~June~~December 3031, 2015 to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to the Company’s management, including its president and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

(b) Changes in Internal Control over Financial Reporting

There has not been any change in the Company’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Section 13(a)-15 or 15(d)-15 under the Exchange Act that occurred during the Company’s ~~third~~first fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There have been no material updates to the Legal Proceedings as set forth in Item 3. of our Annual Report on Form 10-K, filed with the SEC on December 119, ~~2014 except for Note 1 of Notes to Consolidated Financial Statements (in Liquidation) for an update on the Litigation Trust ongoing litigation~~2015.

ITEM 1A. RISK FACTORS RELATING TO THE COMPANY

There have been no material updates to the Risk Factors as set forth in Item 1A. of our Annual Report on Form 10-K, filed with the SEC on December 119, ~~2014~~2015.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Recent Sales of Unregistered Securities

None.

Repurchases of Common Stock

The Company does not regularly repurchase shares nor does the Company have a share repurchase plan.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None

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ITEM 6. EXHIBITS

Exhibit No.		Description of Exhibit
3.1		Certificate of Incorporation of Registrant dated August 8, 2002 and as Amended August 12, 2004 (Incorporated by reference to Exhibit 3.1 filed with the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2004, as filed with the SEC on December 14, 2004, File No. 0-49968).
3.2		By-Laws of Registrant, adopted as of August 9, 2002 (Incorporated by reference to Exhibit 3.2 filed with the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2002, as filed with the SEC on January 14, 2003, File No. 0-49968).
11.1		Statement re computation of net assets in liquidation per ~~CDR~~common share and ~~Common~~CDR ~~share~~liability per CDR (Filed herewith).
31.1		Certification of Principal Executive Officer and Principal Financial Officer, Pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Exchange Act, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herewith).
32.1		Certification of the Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Filed herewith).
101.INS*		Instance document (Filed herewith).
101.SCH*		Schema document (Filed herewith).
101.CAL*		Calculation linkbase document (Filed herewith).
101.LAB*		Labels linkbase document (Filed herewith).
101.PRE*		Presentation linkbase document (Filed herewith).
101.DEF*		Definition linkbase document (Filed herewith).

* Pursuant to Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	COMDISCO HOLDING COMPANY, INC.
Dated: August 13, 2015	By:	/s/ Randolph I. Thornton
Dated: February 11, 2016	By:	/s/ Randolph I. Thornton
	Name:	Randolph I. Thornton
	Title:	Chief Executive Officer and President
		(Principal Financial and Accounting Officer)

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