Ann: Response to ASX Query Letter, page-104

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18/11/19

13:04

Post #: 41483790
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Originally posted by ceviche: ↑

The reclassification of $2.9m as set-up is the one issue that is difficult for ISX Directors in 2018, but not for the business model.
ASX are using de-listing as a threat to continue pressuring ISX for more and more information about disclosure so they can justify the suspension without exposing their lack of understanding of the business. ISX are right to refuse client names on legal grounds. They should say, enough.
It is time for ISX shareholders to make the point to Gerraty, your pursuit of Directors is one thing, but you are damaging a promising business.
So write to him. Write to ASIC too, who is responsible for proper auditing of entitlements, you or ASX?
It is also clear that ASIC have blundered with OT Capital and others and ISX have followed too eagerly to get their business. Learning curve for both. The potential revenue from so-called dodgy areas of business might be music to JK ears, but ISX might need to be more cautious in future and focus on revenue streams that help for example the 1600 small German banks who don't want to be scammed.

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Once ISX hand over all banks statements for the time period requested, it will provide more clarity as to what really occurred. It’s in the best interests of all parties if ASX completes it inquires and also doesn’t drag this on.

ISX Price at posting: $1.07 Sentiment: Sell Disclosure: Not Held
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