ferrymanauPPX is like a long dated out-of-the-money call option....

ferrymanau

PPX is like a long dated out-of-the-money call option.

There is no intrinsic value as evidenced by the audited accounts, only extrinsic value which diminishes with time unless the outlook for the underlying (here the business of PaperlinX) improves dramatically.

I've said that previously on PaperlinX-SuX. Do a search on "call option".

Today the intrinsic value of PPX is zero - no debate about that. The punters believe the extrinsic value is worth circa 10 cents. I hope they are correct.

We all anxiously await the H1 accounts, and forward looking statements, on Feb 21. Expect some surprises.