Hello Carl,
Thank you for the reply. You are correct that the units are representations of initial contributions. They have been being tracked via the 1065 each year.
The company is still around but no longer actively doing business and effectively insolvent. Bankruptcy is a very possible next step, but hopefully avoidable. We are looking to buy out the non-manager partners as our complex cap table has made the company impossible to sell or attract a White Knight as a means to maybe stay alive, or at least make dissolution and bankruptcy simpler.
