PAA, A New Dawn , FDA ODD Approval and Entering Phase II MND Trial, page-920

Misleading.

Of course any valuation of the IP would impact the SP...not necessarily the day to day trading price but imagine if BP came knocking with a TO price of 20 cents per share and we have an IP valuation of $2/share.....you gonna sell. it also allows share owners to understand the potential value of their shareholdings so therefore less willing to sell at the current SP leading to a rise in the SP

Think of selling your house and you have a valuation 20% higher than what similar houses have sold for. Are you going to put the property on the market knowing the market will buy it at a 20% discount to the valuation. Unless you are desperate smart owners will hold and use the professional valuation as a marketing tool for the higher price.....just as PAA should.

A valuation avoids the potential for PAA to be sold dirt cheap to a BP crocodile. It will also influence the sales attitudes/pricing requirements of current holders. To say a reputable valuation will value PAA at its current SP is misleading and ignores the various rigorous valuation methodologies in favour of the simplistic current SP.