The Curious Case of Lifespot, page-25

I agree with your sentiments Superwealthy and I am surprised that this hasn't been flagged yet by the ASX.

The business appears to be:

a. Unprofitable and non-viable
b. Burning cash at a reasonable rate
c. Operating in an industry where the whole team are non-experts and possibly even non-proficient
d. Run entirely by non-executives (not one executive in the whole team....Not even a CEO)
e. No corporate strategy, no game plan and no one to execute on any potential for growth.

It is essentially a shell or zero value looking for a suitor.

However, the suitor should ideally be in the same industry (medical devices or cannabis) to avoid the requirement to recomply with chapters 1 and 2 and therefore, putting all the shareholders into a 2 year escrow period.