I admire your self-deprecation, both as to your pseudonym and commentary "The smart ones (like myself)..."
Comments such as "There are profitable limbs still churning healthy margins in Canada, Australia and Asia, ..." are simply incorrect.
This is one reason PIGS elected to publish the financial accounts of the operating companies - see http://paperlinxpigs.wordpress.com/paperlinx-accounts/
Forget about billion dollar turnovers and PPX's day-to-day price fluctuations between 5-10 cents. These are immaterial when the balance sheet is crippled and the business obviously trades at the behest of its bankers and major suppliers.
That's not inside information, simply a statement of the obvious if you analyse the individual and consolidated balance sheets.
One universal test of any business is its return on equity (ROE). According to Lincoln Indicators, PPX hasn't had a ROE exceeding 8.00% since June 2004.
I admire Andrew Price however he's captain of a ship leaking like a sieve. It's time the board addressed the real problem that was obvious before it took control.
PXUPA conversion to PPX. There is a prescribed "entitlement" ratio in the PDS. After being used and abused for so long, why would any PXUPA holder accept less than his/her entitlement?
Here are some sample conversions:
At 5 cents the ratio is 2050:1 At 10 cents, 1025:1 At 50 cents, 205:1
A full conversion at 214:1 would give hybrid holders 50% of the expanded capital of PaperlinX with no control.
It won't happen.
SRS Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
