Twitter Posts, page-250

That's because releasing the complete report would do ISX no benefit. All it would do is arm competitors, dodgy media, and naysayers enough data to go work with. We've seen them lurking around trying to damage ISX's credibility by investigating who ISX's clients are. How they know more than the regulators who, specifically trained in these matters, issued these companies licenses and haven't convicted them (or the ISX with all the focus this has garnered in the last 10 months) of wrongdoing is beyond me.

Releasing a redacted report wouldn't do any favors either. It's likely to be redacted to an extent determined by advice from lawyers, and that in itself would predictably cause disputes going by what we've witnessed in the last 10 months.

This matter is simple: if ISX says it hasn't breached continuous disclosure rules, the trusted independent expert (nominated by the ASX) supports this claim but the ASX argues against it, whom would you believe?

The worst part of it all is the matter that the ASX makes us believe is causing the dispute (disclosures about the Visa contract):
- wasn't an issue before the ASX issued these directions
- has been extensively dealt with in a separate query/response letter the ASX released to the market weeks ago i.e. the market is now fully informed of it

The ASX is upset the independent expert hasn't upheld their claims ISX broke disclosure rules around the Visa contract and that's why they went harassing the expert over the weekend! To me, whether it wasn't adequately reviewed by the expert, or was adequately reviewed but no breaches were found is irrelevant. The ASX continuing to hold on to it as excuse for not releasing the summary to the market just shows it can't be trusted and has no intention (regardless of what it requests ISX to do) of lifting the suspension.

All ISX can do IMO is:
- continue innovating and running the business profitably (even in these difficult times)
- delist and move to a better exchange
- sue the ASX for damages (hopefully justice would prevail)

The directors are progressing well with all three in my opinion.