ISXFEU Share Buyback, page-197

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02/09/22

08:08

Post #: 63475678
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Originally posted by Senseightynine: ↑

Imagine coming out in defense of ISX in the light of the OM report that put a spotlight on the financial report, primarily the revenue and performance share hurdles. The JK, ISX and shareholder defense was tHe NuMbErS WeRE AuDitEd WiThOuT QuAliFiCatiOns

Imagine putting majority of your eggs in that one basket for defending the company with regards to the OM issues.

Now ASIC has come out and charged the auditor with not doing the audit in accordance with the auditing standards - ie a deficient audit. ASIC does not prosecute auditors regularly unless there have been severe errors found in their way.

Suddenly the original defense that you held literally evaporates (well it will if/when the auditor will be found guilty).

So where does that leave you? Do you still have faith that the revenue numbers were legitimate and that the performance hurdles were met? When the audit literally cannot be relied upon because it wasn't done to any standard.

As for your other question - are you able to sell your shares on a liquid market? If not then your shares are worthless if you wanted to sell them tomorrow. Simple.

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If OM was the gold standard, then why not simply subscribe to Disney Streaming for all the fictional nonsense you desire to churn out as a SOR.

SP1 Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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ISXFEU Share Buyback, page-197

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