Ann: Notification and Rectification of Breach of ASX LR 10.11, page-6

Looks like ASX may be building an arsenal to finally flush this turd.

If ASX considers the breach to be an egregious one it can censure the entity or terminate the entity's admission to the official list.

"The ASX will exercise its power to terminate an entitys listing to protect the reputation and integrity of the ASX market and to prevent future investors from buying into a listed entity that in ASX's opinion should not be listed on the ASX market."

I don't imagine the ASX would be too impressed with this statement from Shawn, considering the assertions he makes that it was an "inadvertent" error due to an innocent "misinterpretation" of the listing rules, are so easily proven to be blatant lies.

Half Year Report - June 2023

A$500,000 of the Convertible Notes issue will require shareholder approval as the note will be taken by 4F Investments Pty Limited, an entity associated with Fred Bart. The other A$2.5m has been taken up by five other existing sophisticated investors and the funds already received.

100,000 options will be provided to 4F Investments Pty Limited subject to the convertible note being approved by shareholders. The Company intends to call a shareholders meeting to consider and approve the participation of 4F Investments Pty Limited, an entity associated with Fred Bart, in the issue.

Shareholder approval at an EGM in October 2023 of additional convertible notes to be issued by the Company to a director-related entity, 4F Investments Pty Ltd, to raise $500,000 on the same terms and conditions as the May 2023 convertible notes;

There was no EGM held.

Full Year Report - Dec 2023

On 27 October 2023, the Company issued a Convertible Note amounting to $500,000 to 4F Investments Pty Limited, an entity associated with Fred Bart.

4F Investments Pty Limited also received a total of 100,000 unlisted options.

Shawn knew that the issue of the notes and options didn't satisfy the listing rule exemption he mentions, which clearly states the notes needed to be issued before the company is listed.

More front than Myer.