As a keen follower of the paperlinx saga I found the presentation by PIGS on how to fix paperlinx an interesting read. The core premise is that as long as paperlinx bears the burden of PUXPA no one will prosper. They then go on to provide 7 different solutions highlighting the pros and cons of each solution and potential pay outs for PPX and PXUPA holders. The link is below.
My opinion is that a voluntary conversion of PXUPA to PPX is the most probably solution to current burden faced by PPX. However talk of a conversion at market rates is absurd. PXUPA currently has significant preferential rights over PPX and hence deserves a significant premium on conversion.
As a PXUPA only holder, and with current market prices i would not convert for less than 1,000 PPX for 1 PXUPA. Based on 100% conversion and a hypothetical market cap of $200 million PXUPA holders would realise $57.82 per a PXUPA with a new PPX price of $0.058. 5.8 cents is equivalent to the current market price yet the burden of the $285 million PXUPA liability and financing restrictions has been lifted providing greater opportunity for PPX growth. I believe this solution provides benefit to both parties.
http://paperlinxpigs.wordpress.com/2013/06/06/fixing-paperlinx/#respond
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