Ann: Response to ASX Query Letter, page-152

In the link to the ASIC warning on the suspended companies we find that the companies who provided over 25% of ISX revenue in the quarter proceeding the performance awards (April-June 2018) had been warned about by asic on Feb 13 2018 where they suggested all Australian businesses not do business with these guys.

australian accounts were frozen in March 2018 but it looks like ISX kept doing the bulk of its business with these guys using overseas accounts apparently. They couldn’t be doing it with Australian funds.

we don’t know when ISX ceased business with these guys but it was after June 2018 and well after asic had them rolled up locally.