Another way to think about the situation with the asx and the 2 week extension depends on if you believe the language in the recent press release feels more upbeat and positive?
If you are in the camp where you might feel things have been agreed upon in principle with the asx, then the 2 week extension makes sense for a couple of reasons:
1. The Company will need this time frame to formalize the final written response to all of the exchange’s requests and adjustments the Company was willing to make ...
2. The Company will also need this additional time to finish and finalize any pending transactions that have been put on ice due the fact they cannot issue , trade , or liquidate shares (to raise additional cash if necessary) or provide the public shareholders with everything they might have been working on during the Halt!
(This is very important due to the fact they could be coming out of a very extended Halt and there will be likely some trapped investors that may choose to exit at first chance, so the Company will want to have a very strong press release prepared to bolster any positive news that they have been unable to provide publicly.)
This whole deal with the exchange has been a big drain on financial and personnel resources and very distracting!
The Sandbox, F1, Stryker, Quidd and the pending nWay acquisition are all very large scale and extremely ambitious ventures that require tremendous attention to details along with a very dedicated set of teams with a strong leader in Yat Siu overseeing the groups!
They have 2 very strong Company Secretary’s on staff now that should be keeping a close eye on all current and future accounting issues.
Let’s get this deal with the exchange settled and give the Company the chance to prove out their Blockchain gaming thesis!
all above just my opinion, please feel free to add to, reply or comment...
Ann: ASX extends deadline for response to letter of 18 Dec 2019, page-24
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