Hi kpoolXavier's numbers are spot on.Regarding potential...

Hi kpool

Xavier's numbers are spot on.

Regarding potential buybacks at $10, I refer you to a memorable quote from a great Aussie movie from 1997 called The Castle: "Tell him he's dreaming."

Not many people properly understand the PXUPA security. Of those that do, three are presently in denial.

The PXUPA/PPX situation is a classic prisoners' dilemma. The present SP strength of PPX, and continued SP weakness of PXUPA, leads one to suspect the market isn't properly informed at present.

Talk of conversion at less than the formula is simply irresponsible. The PXUPA holders have rights and this one cannot be denied to them. The above figure of 1025 PPX per PXUPA would be unacceptable to the new board and its backers. Anything less would be unacceptable to PXUPA holders, and there is a widely held view that any conversion is unacceptable in the absence of total disclosure by the new board.

I'd like to chat with you privately about other matters.
My contact details are available at http://paperlinxpigs.wordpress.com/contact-us/

Graham Critchley, Convenor, PaperlinX PIGS