I don't think he's running out of money. Because ISX are a co-defendant, he's having us pay for all of the legal costs.
I'm not sure shareholders realise this. The following are indisputable facts:
- JK is being sued for breaching the Corps Act by not putting out interests first (as is his fiduciary responsibility)
- JK is using our money to defend this
This also isn't surprising, given that the ASX wanted to release information to us and he literally spent our money trying to injunct them to prevent information from being given to the market telling us what ASX were looking at.
That said, I think his motives are clear. We're the target. He's painting a narrative where ASX and ASIC are the bad guys, when they're accusing him of illegally diluting our shares to enrich himself. If he can keep us on his side, he won't get booted from the company at an AGM/EGM. Power and money.
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