I have sadly seen this before. The ASX lets a company trade beyond reasonable limits while developing something. In this case the micro sats but especially [in our case] the background management software. Money is drained from the local domicle to do this. Once done, the company shuts up shop and sells off the intellectual copyright for a song and this is then used by a new and debt free clean company to make money for others.
An even smarter ploy I have seen is when they hold the IP in a different holding company and the listed business doesn't even have access to its ownership despite the development.
I would like to raise a glass to the controlling rules of the ASX and how they allowed this to happen to yet another group of enthusiastic investors.
Cheers boys,
See ya on the floor.
- Forums
- ASX - By Stock
- SAS
- Ann: Circular to Shareholders
Ann: Circular to Shareholders, page-8
-
- There are more pages in this discussion • 175 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SAS (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online