19.22% - owned by ISX or Nick Karantzis?, page-130

a) The SOR refers to SEPAGA a few times and confined within the context of NONA. By my understanding, the SOR explains that ISX seems to suggest that ROC marketing had deposited money into an EMA account that NONA apparently had with SEPAGA, that then transferred the money to Autheticate BV, allegedly as directed by NONA, to pay for the invoices. Feel free to read the SOR for the exact wordings, but the crux is that the money never originated from nor paid by NONA, rather the money originated from ROC marketing while SEPAGA was the one that paid. So as you can see, ISX's statement, "at all material times SEPAGA E.M.I. LIMITED (SEPAGA) and OrangeTrust S.R.O (OrangeTrust) were electronic money institutions authorised by European financial regulators to, among other things, send payments on behalf of others;", makes no sense because it doesn't answer the question AT ALL.

b) to d) Again, they explain absolutely nothing AT ALL.

e) i) Yes, approximately half of the payment did come from IMMO, ii) and iii) but the rest came from completely unknown third party entities. ISX also has not identified any direct debits by ISX from IMMO's EMA relating to the payment of the invoices.

f) and g) Pure claim/denial.