Ann: Updated Statement of Claim ISX vs ASX, page-210

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JoeGambler

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02/09/21

12:58

Post #: 55780150
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Originally posted by LongNWrong: ↑

I have no idea what you are quoting or where it cam from but this is black and white from the statement of claim.

71 By reason of the matters set out in paragraphs 69 and 70, Karantzis used his position to ensure that:
(a) Authenticate BV entered into the integration agreements in the Relevant Period;
(b) the contracted-for fees under the integration agreements was recognised as revenue in the Relevant Period; and
(c) iSignthis would achieve one or more of the Performance Milestones.

72 The conduct referred to in paragraph 71:

(a)resulted in Karantzis gaining an advantage for himself and others;
(b)was not in the best interests of, and caused detriment to, iSignthis and its shareholders;and
(c) was done for the improper purpose of achieving a financial gain for Karantzis and others.

73 By reason of the matters set out in paragraphs 69 to 72, Karantzis:
(a)contravened his obligations in s 182 of the Corporations Act; and
(b) failed to exercise his powers and discharge his duties in good faith in the best interests of the company and for a proper purpose,in contravention of his obligations in s 181 of the Corporations Act.

74 The contraventions referred to in paragraph 73:
(a)materially prejudiced the interests of iSignthis’ shareholderswithin the meaning of s 1317G(1)(b)(i) of the Corporations Act; and
(b) were “serious” within the meaning of s 1317G(1)(b)(iii) of the Corporations Act.

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And this is the same person that is now putting a de-merger plan for almost all the value of ISX in front of shareholders that gives himself and his family the same ownership structure INCLUDING THE PERFORMANCE SHARES, in a European entity outside of ASIC jurisdiction and with no offer of escrow.

Last edited by JoeGambler: 02/09/21

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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1 Great analysis

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