ASX, page-19

"if a company has no audit report and has been forced off one exchange the chances it gets listed elsewhere decent is close to zero."

That may be the case, but I think that Animoca does not fit a "conventional" company profile. It is possible that they may break the mould, but I do concede that they need to lift their game. The Reporting aspect is obviously a problem.

However, if entities like Disney, Pixar, Formula 1, etc. have no issue working with Animoca, then there is reasonable grounds to give them credit.

I am more annoyed by the fact that the ASX allowed them to list in the first place, than I am by the actions of Animoca. From the very start, it was obvious, to me, that Animoca was heavily involved with blockchain technologies, and that they would be partnering with, and acquiring, other companies in the same field.

In my view, the ASX did not exercise due diligence by not seeking assurance that these transactions would be executed to their level of satisfaction before granting Animoca permission to list on the exchange.

To then turn around, down the track, and declare that these transactions are unacceptable is incompetent: They should have at least suspected that these sort of transactions would occur due to the very nature of the industry. If that was unacceptable to them, they should have known that from day one, and not allowed them to list.