Ann: Response to ASX Query Letter, page-28

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Shane.ilich

24 Posts.

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20/11/19

13:34

Post #: 41530869
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Originally posted by Misschow: ↑

Hi Shane. ISX enquiries are about funds transferred between phoenix companies and accountability. I feel for ISX shareholders but they are in a spot of bother. AB1 enquiries are about their subsidiary company reporting. There is a big difference.

From my experience with companies that have subsidiary companies in other jurisdictions, normally the parent company puts 1 staff member in the subsidiary office that reports to the parent company accountant. They normally send monthly financial reports and normally sit in on management meetings. I believe that this is just growing pains and can be easily fixed.

I don't think anybody can now say that AB1 is secretive and withholding information. Geez, there is a lot of info to digest and it is now in the public domain.

I posted before about AB1 breaking new ground and setting a precedent regarding financial reporting of cryptocurrency and tokens. This still has more to play out but we are heading in the right direction. I didn't think it was this complex to sort out.

Anyway, I think that this is good news and gives some clarity on our current predicament. I say take your time and sort this out properly. I am happy to be here and I know I will be more happy next year and many more years to come.

xxxooo

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Sorry, my intent wasn't to imply similarities in the reasons for the trading halts of AB1 and ISX.

I was more commenting around the process of the ASX queries - taking the bold section of the quote, about "not front-end loading" it's questions, and how it may relate to the timeline of responses and trading halts - given the complaints about how long AB1 have been in halt for.

AB1 Price at posting: 18.0¢ Sentiment: Buy Disclosure: Held
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Ann: Response to ASX Query Letter, page-28

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