Ann: Media Release, page-91

In light of the events that have occured since the suspension yesterday, probably a good idea to recap and take stock of where we are at.

I gave 3 possible scenarios yesterday for the suspension and it looks like the most likely scenario that has occurred is the following:

• ISX have approached ASIC and the ASX in light of the share price volatility in order to respond to the OM and AFR report

So why have they done this?

1. JK and CO have a lot of their personal networth tied to ISX now. The SP dropping 30% takes probably close to 30% directly out of their pockets too
2. They are currently applying for an ADI. Any blemishes at this point would hinder their chances of a successful application
3. ISX is competing for financial institutions transnational business and KYC protocols. High risk, highly regulated area, credibility and a clean nose is critical
4. Defense of shareholders and cornerstone investors - people are being hoodwinked out of their investments

Lets call a spade a spade, the playing field is not level when it comes to the public domain. When journalists were ethical, and publications were sold based on their credibility, not ad space there was more on the line. With the invention of social media and the dying of print we live in a world where the most controversial headlines get the most clicks and very little fact checking takes place. Bad news spreeds like wildfire and it's mostly the most uneducated who seemingly have the loudest voices who promote misinformation. The age of Social prestige (Ironic given you make like this post).

My honest and objective assessment of the situation is that ISX has taken the best steps possible to ensure they are able to mount a credible and measured defense to the allegations that continue to swirl in the media. ASIC have obliged on the basis of the extreme volatility shown in the SP while a considered investigation is conducted. This is to protect the market and it's participants.

If ISX are guilty of any wrong doing, that's fine, they were never going to make it anyway. If you want to believe that JK and co are stupid enough to risk the entire venture on cutting a few corners when they knew full well they would be put under a microscope by AUSTRAC, ASIC and APRA to get this thing off the ground, well then you never believed in the ISX vision to begin with. John was a practicing solicitor and engineer, how stupid do you think he really is?