Here is a recently completed independent research report on PaperlinX and a 'Sum-of-Parts' valuation of PPX and PXUPA.
It's detailed and will provide excellent insight for PPX and PXUPA investors alike, available at
http://wacq.wordpress.com/2013/02/06/paperlinx-valuation-report-ppx-pxupa/
WARNING - it contains some surprises.