Australia's largest stock trading and investment forum Australia's #1 stock forum

SP1

Click for more information

0.00%

$1.07 southern cross payments ltd

ASIC v ISX Hearing, page-669

First 669 Last

Share
Profile

Follow
naomhan

1,180 Posts.

1068

10/03/23

19:24

Post #: 66706127
Share

Originally posted by Gothman: ↑

Performance shares were issued based on revenue targets and despite what that article may imply the fact they were one-off or reoccurring is irrelevant. As far as I remember ASIC is not questioning issuing of the shares only if the contracts entered into were only done so to meet those targets and not to created a ongoing revenue. The evidence so far has shown all ISX contracts where entered into to provide future revenue as that was the sole focus of the board for the company to be cashflow positive.

Expand

Nature of the revenue was irrelevant in the performance share contracts.

This is the Corporations Act though. You can meet one and still breach the other.

SP1 Price at posting: $1.07 Sentiment: Sell Disclosure: Held
4 Upvote

1 Great analysis

Reply

Top Stories

RSG

HotCopper reacts as Resolute Mining told to pay US$160M if it wants its CEO back

HAS

Yangibana 33% complete says Hastings, as it provides clarification on funding

BIO

Biome reaches intellectual property milestone in strain development program

NUZ

Neurizon sets out to capture the market in neurodegenerative disease therapies

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

There are more pages in this discussion • 3,180 more messages in this thread...

First 669 Last

Add SP1 (ASX) to my watchlist