" imagine the directors are told hand on heart a mystery person wants to fund the project. This however isn't signed, seal and delivered."
The key is they used the word 'secured' and not 'in discussions'.
The ASX & ASIC need to seriously tighten up on what kind of people and what kind of threshold is required to participate in the ASX.
The bar needs to be lifted as a whole - if that means less stocks (and less penny dreadfuls) and less revenue for the ASX then so be it. Plenty if not all businesses face regulation of some kind or another designed to protect the public (safety, consumer law etc etc etc) - and the ASX should be no different. Just because it is a 'market' shouldn't give it carte blanche to rip off its participants. The integrity of the market is key or the whole thing collapses. This integrity is in question.
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
