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Liventhedream

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10/04/24

16:33

Post #: 73281157
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Originally posted by Surfguy: ↑

She is describing our financial markets.
The sooner WBT leaves Australia the better. I'll guarantee most sharemarket investors don't know the ASX, a public listed company, has extraordinary control over your investments to the point of making them worthless without any avenue for companies or investors to dispute their rulings. The ASX changed the rules around duspute resolution by simple getting rid of any avenue to dispute their decisions other than taking them to the Federal Court. How many companies, even profitable ones do you think could outlast the ASX delay tactics before they went broke.
Don't think it can't happen to you, ISX was a profitable $1.7b MCap company before short raid and $1 b when it was suspended indefinitely with zero evidence and no avenue to dispute. Evidence from the Fed Crt discovery docs obtained from ASIC(ASX somehiw lost - dog ate- all documents pertaining to the suspension of a $1b company) showed ASX suspended without evidence 24hrs after communicating with ASIC they had none and ASIC decided to screw over 10,000 largely mum ans dad investors, the very people they are sworn to protect.
The only reason I still have that large investment in a sensational ex Ozzy fin/regtech innovator is the CEO demerged the company and left these corrupt shores forever. That was only possible due those documents revealing ASIC's corrupt role in supporting the unsupportable decisions of ASX. ASIC was happy to grant ISX a waver to leave Oz againt the wishes of ASX who wanted complete company destruction. I am sure ASIC officers knew a prison term awaited some of them if a proper investigation was brought to bear.
I only highlight this as Oz now has massive sovereign risk attached to the sharemarket in particular and investing in successful startups definitely becomes problematic as they approach $1b MCaps. Has happened to me twice now, not going to happen a third time, lesson learned.

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Hi Surf,
thanks for such an insightful post. Learning lots. I always wonder about the shorts and what their motivation to stop would be.
I don’t know anything about ISX and I’m wonder what the ASX claimed was the problem which allowed them to destroy the company?
cheers

WBT Price at posting: $3.23 Sentiment: None Disclosure: Held
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Weebit - 2024 and beyond, page-1097

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