buying, page-22

Here's my back-of-the-envelope calculation of PXU value:

Assumption - PXUPA get all the spoils (if any)

Current Assets 1,022m
Total Liabilities -811m
Net Current Asset Value 211m
Number of PXUPA 2.850m
Value per PXUPA $74

It's simplistic I know as it doesn't take into account off-balance sheet liabilites and liquidation costs. Also if they keep losing some the value will come down futher.

Still makes you think though. Current price is 1/7th of above valuation

PXUPA only atm