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RisknReturn

02/06/14 5:15 PM

#301676 RE: makecents99 #301675

Since perception = reality, mistaken beliefs could very well be holding PPS up near par value.

We know that YA can not convert below par value (if in fact there were any authorized shares to convert); however, that 'par" benchmark is irrelevant to PPS as we have all seen with trades much lower last summer and fall.

Some investors may also believe that par is the floor in bankruptcy but that is completely false. I am gratified to see PPS at these high levels but there is no rational reason to maintain this level without major verifiable news.