I put this together a while ago if anyone is interested.. it's...

I put this together a while ago if anyone is interested.. it's basically just using Blue Pacific's figures to evaluate a number of different exchange ratios. Still not sure where I sit on the fence yet.. maybe both as a hedge.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0	Estimated Value of Firm	$125.00
1
2	PXPUA Price	$11.00
3	SRS 20-day VWAP	$0.024
4
5	Number Ords Outstanding	665.00
6
7	PXPUA	Exchange Ratio	SRS Shares Issued	Total Shares on Issue	% Ownership of PXPUA Holders	Value of Firm Attributable to PXPUA Holders	Value per PXPUA Unit
8	250	657	1,322	50.00%	$62.50	$23.80
9	500	1,313	1,978	66.00%	$82.50	$31.42
10	1000	2,626	3,291	80.00%	$100.00	$38.08
11	1250	3,283	3,948	83.00%	$103.75	$39.51
12	1500	3,940	4,605	86.00%	$107.50	$40.94
13	SRS	Exchange Ratio	SRS Shares Issued	Total Shares on Issue	% Ownership of SRS Ords Holders	Value of Firm Attributable to SRS Holders	Value per SRS Share
14	250	657	1,322	50.00%	$62.50	$0.0940
15	500	1,313	1,978	34.00%	$42.50	$0.0639
16	1000	2,626	3,291	20.00%	$25.00	$0.0376
17	1250	3,283	3,948	17.00%	$21.25	$0.0320
18	1500	3,940	4,605	14.00%	$17.50	$0.0263