Yes - balance sheet is decent IMO.
Issue is that PPX is not making a profit hence cant afford to pay out hybrid holders. Yet at the same time there is no catalyst to wind up the company or sell assets. Also, unlikely that it will be bought out. In essence, PPX becomes a zombie company which can go for a long time on a break even basis. SP stagnates for some time to come. In the end, time = money!
whats the business all about, page-16
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