Ann: Circular to Shareholders, page-8

I have sadly seen this before. The ASX lets a company trade beyond reasonable limits while developing something. In this case the micro sats but especially [in our case] the background management software. Money is drained from the local domicle to do this. Once done, the company shuts up shop and sells off the intellectual copyright for a song and this is then used by a new and debt free clean company to make money for others.

An even smarter ploy I have seen is when they hold the IP in a different holding company and the listed business doesn't even have access to its ownership despite the development.

I would like to raise a glass to the controlling rules of the ASX and how they allowed this to happen to yet another group of enthusiastic investors.


Cheers boys,


See ya on the floor.