Ann: Response to ASX Query, page-8

I think the ASX have become aware of the listing due to the last auditors report. Auditors are now themselves coming under the spotlight for the so called "ticking off" on the accounts for some major companies when all is not as it seems.

Statements from auditors are now being carefully worded to exonerate them from liability if a company goes belly up.

imo ASX regulators/Auditors need to become more proactive particularly in the micro cap space.

There are clearly managers and directors with poorly structured business plans plus not having the qualifications, experience or management skills to be operating public companies that have access to shareholders cash.

For example

Wangle/Family Insights was originally touted as developing a micro chip in a billion dollar market. - gone
Then came the world class VPN - decommissioned. Followed up with the Family Insight app, launched and relaunched and now to be launched again in 2020 with no commercial success and now Frugl - unknown, will it just finish up like the rest an idea with no commercial traction?

Associated with this a court case to sort out an administration issue, trading suspended for months. Now another suspension at the call of the ASX re auditors statement referring to capacity to continue as viable listing.

Then the issue of funds. The only lifeline has been the government rebate. But, we the taxpayers and shareholders are seeing nothing for the provision of such funds.

Combined with all of this we have a 100:1 consolidation of the 3 billion plus shares awash in the market place. Shareholders value stripped to the bone.

Good management - you answer the question.