Letter to Shareholders : ASX Directions, page-58

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ZMan

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03/05/20

23:43

Post #: 44411104
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Originally posted by Managerisk ↑

Let’s be nice to each other.

I feel really sorry for ISX shareholders.

Firstly, I have absolutely no skin in the game. I have never bought or sold a single share in ISX. I trade professionally so am always looking at companies and have been following the ISX story since suspension because, well let’s be honest it’s VERY interesting (and also quite bizarre).

ISX shareholders should be furious at management. From the first set of questions from the ASX they have provided the absolute minimum of information. Since then it has just been continual smoke and mirrors to avoid answering some fairly simple questions. Why is this? If they were confident in the 2018 revenues they could have provided info and knocked that on the head very quickly.

The ASX SOR is an interesting read. Yes, there are some serious questions to be asked around the 2018 contracts. Just as concerning imo is the info in Annexure A + B which looks at who ISX claims paid the invoices on these contracts and how they were paid.

Yes Aniesbaswedan ISX is in big trouble but I think you’ve made your point and don’t think it’s in anyone’s interest to rub shareholders nose in it. People losing money in the market like this is never good as it turns them off investing in equities for life.

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Nicely balanced post.

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