Ionic Capital Raise, page-42

Hi Edwood7 No-one knows when an IPO could happen and that includes the directors. Have shareholders been notified that Ionic can float? ie that they meet the stringent ASX IPO requirements? I haven't seen that but tell me if I missed it. If they haven't then the RI is part of their attempt to float, a successful RI = IPO. But I can't see the RI being fully subscribed and if so then the $$ raised could be quite small. That's a likely scenario in my opinion. Regretfully there is no real alternative to IPO fundamentals which are an income, a commercial product, profit, an established place in the marketplace and a pile of cash. Ionic has none of these and is unlikely to float - ever. Just as I correctly called VXL in my opinion this is also a huge gamble that probably won't pay off.