option uptake, page-2

S,

great average price .... wish i was sitting that low, i bought my first pbios at .16 -- ouch! -- but have obviously averaged down over the past six months. A $50,000 commitment to this stock is no small investment given the lack of action this year. after conversion you're going to be sitting pretty for the hoped for re-rating in 2007. Amazing to think that 12 months ago this spiked to .30 easily (pbios .10) and then nothing, fell away again. In retrospect that was the time for me to bail, above the average price, with an eye to buying back in towards oppies expiry.... you live and learn hey. ?

i think what we've been seeing in recent days is increasingly desperate oppies sellers meeting the price of smaller buyers who obviously plan to convert .... (20,000ish parcels suggest people with $10k spare who plan to convert and pick up an easy 10-20%) ...

Good news notwithstanding ... I'd imagine there's a bit more carnage to come, and if an underwriting gets up it will probably be too late to save those with big parcels and no means to convert. Just a nice free kick for the underwriter and hopefully a broking house to support the stock in coming months.

December 15th PBIOs stop trading, and cash has to be in for conversion by day before Christmas. Looking forward to the new year when PBI has no oppies hanging over its head and a few million (at least) cash in the bank.

good luck everyone .... and just remember, i am often wrong, so dyor.