Thornburg Mortgage Inc, is postponing their filing of their quarterly report, which was due on June 2nd. This was to be handed into the Securities and Exchange Commission, but Thornburg feels they need more time. They want to fully evaluate the worth of the investments they sold earlier in the year to try and generate bigger cash flow.

They feel that, ¨it is in its and its shareholders' best interests to take the time needed to thoroughly and comprehensively evaluate and review these matters,¨. They are looking at turning in the report by June 12th.

They are also requesting a 90 day extension of an escrow arrangement about a preferred stock exchange offer. If they are allowed to extend to Sept. 30th, the $200 million in the escrow would be left available for the exchange offer. To keep the money in escrow the company would need consent from each investor.

The company is also out of compliance with the New York Stock Exchange, who sent a letter to the organization on Thursday, stating that the closing price on their stock must be higher then $1 for 30 consecutive trading days. The company hopes to meet compliance by doing a reverse stock split. They are not yet sure on how they will take this on.