I have to agree with your last point Austted:If PPX spent $1m on...

I have to agree with your last point Austted:

If PPX spent $1m on buying 100,000 PXUPA's @ $10, they could write back $9m from outstanding PXUPA debt on consolidation. That's a pretty impressive return on your original investment of $1m.

However, this can only go on for so long, but it does improve the balance sheet progressively.

This is why I back the strategy of progressive sell of parts of the business to pay back debt and to resolve the PXUPA 'problem'.

PXUPA only
PIGS fan