Ann: Suspension from Official Quotation, page-13

@tukebay ....You have to be kidding...

The reason for the suspension was clearly stated this morning ....

"The Voluntary Suspension is requested for the purposes of providing clarification around the Company’s Media Release lodged with the ASX on 3 June 2021"

The ASX obviously didn't like the answer provided by the company, or the company didn't provide a satisfactory one in time, pick your poison.

Most of these 'voluntary suspensions' are not so voluntary. There are plenty of companies that have gone into 'voluntary suspension' and when they come out (some don't!!), it is obvious to all it was not so voluntary.

Purifloh had 4 days (Friday afternoon to Tuesday morning) to prepare an appropriate answer to queries raised by the ASX. They failed to do so in an appropriate manner.

The ASX doesn't care about what product a company has, they care about Independent Expert reports saying it is the best widget since sliced bread, NOT what the company proclaims it to be.

The ASX don't need to understand anything about the tech at all, they want Independent Experts, Independent labs, etc to tick off everything the company claims. Purifloh is not the first company to run into this problem and certainly wont be the last (assuming this is part of the problem, and if it isn't currently, will eventually be a problem).

I could reel off a dozen cases where there has been a pro company poster on these forums that keeps stating everything is great with the company, it is just the ASX that don't understand, don't have the experts etc, etc. Every single time it comes down to the poster and people within the company that didn't understand listing rules, or thought they didn't apply to them..