“PXU equity $272m is a good example of why balance sheets are hardly worth the paper they are written on.”
That’s a sad commentary. The PXU equity is shown as $276.5m, not $272, but is really $285m while ever there are 2,850,000 hybrids on issue.
“The last remote chance of value creation has now gone with the failure of the deal to merge equity and hybrids.”
Don’t you believe it.
“Management will now plod on, take their salaries and charge their expenses to company, for as long as the banks will let them. At which point, I would imagine that 0 and 0 will prove to be the equity and hybrid values.”
Agreed, this is now the major risk, but the second zero is far from correct.
Deal with facts, please.
Try starting at http://www.paperlinx-sux.com/2014/01/the-real-sideshow-is-it-paperlinx-or.html
SRS Price at posting:
4.4¢ Sentiment: None Disclosure: Not Held
