Full steam ahead, page-18

The Big Dish deal failed because of the dual listing. In the 12 months preceding the deal, ASX changed its rules re RTOs. It became too difficult to comply with. At that point Big Dish came to a conclusion that they could list in their own right.

True the deal was not great but at that stage NYO had nothing. It had no money and a project that was worthless. It went downhill from there. Now Irae (NYO) has a debt, no listing. All it has is the necessary spread of shareholders, and the possibility of raising some cash from those shareholders to obtain a project. Both Irae and Ubecoin need initial funding. No initial funding and the deal falls over. Irae falls on its sword.