A market buy back of PXUPA makes sense to me as PXUPA on the...

A market buy back of PXUPA makes sense to me as PXUPA on the books at $100 so to buy at $10 would be a steal.

Can't understand why PPX not doing now?

If it is because they are tight on $ and waiting for the ship to turn before acting, then this seems flawed logic as IMHO the PXUPA value would increase significantly from its current undervalued status.

So the big $ benefits from the strategy are to buy PXUPA when low.

I'm thinking that cash must be a real issue as to spend $10 to retire $100 works for me every time.

PXUPA only