Warning QQ : This will probably make you head hurt so read with...

Warning QQ : This will probably make you head hurt so read with caution.

Like to suggest 1 formula of calcs that may have been taken :
2 shares at $.08 = .16 plus 1 oppi (converted) @ .15 gives a total 3 share cost of $.31 so average price $.10333. Leta assume they want 33% gross profit so divide the .1033 by .67 and the average per share sell price needs to be $0.154.
If oppis look like not being able to be converted then this formula still works for any heads bought on market for less than .1033 (or the average GP goes down accordingly. Equally for the formula to hold any heads bought short term for less than .1033 means an oppi can be discarded at no cost. If the whole company is sold at a min of $0.154 per share they would most likely have the opportunity to convert early.

Few things to note:
1. The CR players (would be helpful to know who they are but anyway) already obviously know the other oppis come in to money by OCT as long as price rises past $.20 so market has some incentive to assist trade in a rising market
2. Pretty safe bet they also know more about the state of play than we average punters so happy to bet on this play with a $0.04 safety net.
3. The BoD must have a pretty good handle on the money they believe they need to at least get to the next step. As usual they appear to have been particularly conservative in the amount sought (maybe they only have a small tin to rattle or dont like having serious money in the bank). Or, that was all they could garner from the audience.
4. so far we have not received any further update regards a potential new CEO so cant join any dots in that regard.
5. We have all been told MND trial outcome is basically "imminent" (that is a technical PAA term Bucky so dont sweat the small stuff) so the SP may be further supported by such (hopefully positive) news. I would expect the CR taker-uppers would have at least a good hint re likely outcomes.

Opinion (only):
1. It just may be that this new money, if from the hands of professional investors (likely), is looking to be rolled over relatively quickly (lets say by end of year). If so this can only be good from a liquidity perspective and therefore potential price drivers.
2. Certainly and absolutely not advice but for punters who have too much spare cash and love a gamble it may be that .087 (price at writing) is a worthwhile play. I'm already way overweight so have to sit this one out. Certainly the science says at this point in time - significantly de-risked. Just depends on ones thoughts as to whether the team can deliver.
3. I no longer hold any however tend to think the $.20 oppis could still get in to play - IF (and yep it is in capitals) MND delivers more than positive tolerabilty outcomes. Just a sniff of efficacy and it is quite possible the whistle will blow for game on.
4. As to the way this has all been handled, I guess the best way I could put it would be it is probably a good thing that PAA has a relatively small holder base. At the end of the day, as per my recent footie metaphor it does not really matter what happens during the game as much as where the score is for the winning team when the final whistle blows. I do however certainly hope the CEO candidate search identifies a worthwhile person who, like the new broom, has the ability and latitude to (metaphorically and literally) sweep clean. All things equal and with no disrespect intended to any of the existing team, the science developed so far deserves the opportunity to have a new story structured and told well.

I am well reminded of 2 favorite golf related anecdotes favored by my late father:
1. Dont start swearing til the ball stops rolling !
2. Life is like a game of golf. No matter how bad you are playing, take a look around and you will see some poor bugga playing worse ! (the market is full at the moment of those having somewhat an off day).

Best wishes and lots of luck to all PAA Punters.