Firsova,I decided to sell based on the following:a) I was hoping...

Firsova,

I decided to sell based on the following:

a) I was hoping for Euro to get better, and did not expect such a large loss for 1h (although I did expect a loss). Nor did I expect the poor offer by PE.

b) Comments by board that they may be in breach of debt covenants come 31 Dec depending on reval of euro business

c) PE bid of 9 cents and the turmoil around the note holders. In particular the possibility that the company could be in breach of bank covenants and then being at the mercy of takeover at firesale share price OR have the company wound up (like Kodak) and PPX being left with nothing after PXUPA being paid their entitlement. Further potential that PXUPA may be converted and dilute holdings (although probably not likely).

I purchased in at 15 cents, and have taken a hit of 50%. I am sure others have taken a larger % drop than me, however, to protect my capital I will now look at companies have more short/long term prospects. This is not to say that PPX is not able to realign itself and turn profitable, I just think that it does not have time on its side.

My New Years Resolution, "If it looks like a dog and smells like a dog then it most probably is a dog". It pains me more to see a stock I once held go up after selling than to hold a share that falls while holding, however, I have taken on board all information available including financial statements, directors comments, financial analysis of this company and articles/information provided by other parties such as GrahamCC blog to come to this conclusion.

Note, I would not base any decision on this company on my sale of shares. As mentioned, when I usually sell shares, the price goes up.

At the end of the day I think there are safer stocks out there to invest in. If PPX does get its act together it will be a multi bagger.

All the best to all holders.