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Ann: ASX Update on Suspension, page-202

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Whatknots

381 Posts.

62

01/05/20

13:40

Post #: 44380799
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Originally posted by Warnie: ↑

The director of IMMO (one of the contracts) was signed by Pesek (sole director) 5 days after he had already resigned as sole director of said company?

Another contract was with a company that had only registered with ASIC 8 weeks prior, as an entity?

Another contract wasn't even signed by either party?

All these contract were same or very similar in nature and on each occasion the revenue simply dropped away once June 30 (preference share date) passed?

These contracts were material in nature as they were a fair percentage of the total revenue generated so from my understanding needed full market disclosure?

Yes one can finger point that the ASX didn't take earlier action but that is a bit contrite given ISX believe the contracts are all legitimate, if so then why would ASX have the need to take action earlier?

They do somewhat rely upon other professions such as auditors to do their job

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The other avenue not fully explored is an explanation as to why an employee hired in 2017 to head up eMoney was later promoted to director in June 2018 and given performance shares. What did he do to justify this?

ISX Price at posting: $1.07 Sentiment: None Disclosure: Held
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