oversold...

At 16 cents one has to wonder if the sell off has been overdone.

The company has confirmed that it is solvent and can meet its debt obligations as and when it falls due.

Further the net tangible assets are more than double that of the current share price. Lets assume that stock and cash has been depleted, the likely NTA will still be more than what the current share price is.

The NTA does not take into account the value of the business. You would have to say when valuing the business (intangibles) that the share price does not even reflect a $ of value. Assuming the company can get its act together and finally make a profit and generate positive cash flows, then the business must have a positive value. Add the value of the business and tangibles, we must be north of 20 cents.

Clearly the paper market is not what it was 5 years ago and Paperlinx are addressing this. The key question is whether the new markets they are trying to penetrate will turn a profit.

At current levels (provided you are long) the share price seems reasonable and with a 12 month horizon, I doubt it will be at these levels.