No proof? How can there be proof without an investigation/queries? So ASIC and the ASX did exactly that and until they have concluded their investigation they are legally burdened to not make any accusation. The suspicion, however, would have been enough to suspend pending outcome of the investigation.
For a time ISX stated that:
...and to me it appears that the ASX uncovered something that ISX want hidden, which then resulted in the extreme change in attitude.
Nowhere does it say that the suspension was because of share price volatility. The aspect may have been factored in into the decision making but it was never ever stated as the reason, ever. That share price volatility narrative is merely something that ISX came up with and lapped up by holders that the company obviously trying to appease. Very political but to me has no basis in anything.
I think the ASX queries have been very focused on the revenue figure for period ending June 2018 and the legitimacy of it.
ISX Price at posting:
$1.07 Sentiment: None Disclosure: Not Held