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$1.07 southern cross payments ltd

Ann: Commences Federal Court Action against ASX, page-2268

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jacklesd

777 Posts.

159

18/04/20

18:25

Post #: 44119640
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Originally posted by retiredyoung: ↑

ISX only made a small amount of gross profit from the contracts that generated approximately $3m in revenue, therefore they do not appear to have overcharged.

Trying to gain customers is what I would expect from a start-up. If these contracts helped them gain new customers that seems OK. If the $3m was refunded by someone then that is not OK. There has been no evidence that the payments were refunded so far.

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A suggestion was made by Ms Button on Thursday that ISX may have sub-contracted services contained within particular agreements.

The angle seems to be that ISX essentially booked someone else's (the subbie) revenue as their own in order to reach the performance milestone.

I have no opinion as to the validity of that suggestion, and look forward to it being tested in court.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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