results analysis - diversified, page-14

Sorry Firstova, you are of course entitled to your opinion, but I do not have to agree with it. I did not buy PXUPA with the intention of being a charity for the benefit of PPX shareholders, although that appears to be what I have become. The value of my PXUPA has fallen to the extent that the last few $ become immaterial. The only real power of PXUPA is in the end game, a bit like how in chess a lowly pawn can turn into a queen. PXUPA is that pawn. I have been screwed over by PPX for a couple of years now. I entered after PPX made positive statements about the situation which suggested/implied that regular payments were to occur. Suddenly, a few months later things 'changed' and I've been given short shrift ever since. Frankly, I would rather see PPX fold (and possibly or even likely PXUPA with it) than PXUPA get screwed over by PPX shareholders to the extent you suggest at this stage of the game. Maybe that is sheer bloody-mindedness on my part, but if you tease the dog, be prepared to get bitten. So, if anyone believes I would accept 100 or even 200 PPX for my PXUPA, think again. Would you be upset if I countered with 1000 PPX per PXUPA given the current PPX price? That is still a material discount to their face value, but closer to what is needed in my opinion. Maybe 800 might do it, being roughly 50c in the dollar. Or better still, PPX should just give me $50 per PXUPA and avoid the risk of dilution (ha ha). That's just my opinion, but I suspect many other PXUPA holders would think similarly.

In terms of the market price being the gauge, I do not ever remember the local banks renegotiating with borrowers to lower the outstanding amount owed when house prices or indeed shares decline. Debt remains unless it is forgiven or you go bust. So leave market forces out of it in terms of the PXUPA price. I just want >$50 for the instrument that gave PPX $100 initially-I'll forgive the rest. If PPX wants to pay with scrip (I'm not making them!), so be it, but that is where market forces DO apply and so would will be at or near the prevailing price at the time. But cash would be preferred. As it is, PPX currently says to me 'up yours, mate'. So be it. I'll wait a bit longer. Anyone for chess?
PA only.