Ann: SP1 delisted from ASX, page-181

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JoeGambler

7,389 Posts.

2122

02/11/22

11:35

Post #: 64541834
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Originally posted by ceviche: ↑

I sold my ISX FEU shares, not because it doesn't have a future but so i can make use of the offset loss against other gains.

From memory SP1 had a $6.6 million convertible note in ISX FEU at the time of the demerger, and from the 4c report it has around $3m in cash.
Not sure what happened to the convertible note.
SP1 can now operate in any activity it wants as private equity. Most likely it could act as a partner of ISX FEU here.
My guess it will try to operate in that mode, and get some revenue then do a CR to list on NSX.
Treat it like any other would-be unicorn, ie a minnow.

For those who lost money, i share your frustration, but you can do something about it and that is:
1. Complain to ASIC about their failure to manage ASX. Not because they will do anything useful but because you need hold them to account by as well...
2. write to your local MP asking for an inquiry into ASIC failure to manage a commercial monopoly with executive powers.
3. Copy Senator Bragg and the Treasurer, and also ask them and your MP for a review of the monopoly powers of ASX and a review into shorting and shorters.

Those who walk away from this without demanding some consequences are dooming yourself and others to repeat performances.
No point in just washing your hands of this on HC..More bad things will go on happening to you and others..
If SP1 disappears from HC there is another place
search
'disallowed'
and follow your nose.
GLTAH.
IMO.
DYOR.

Thanks to itzgr8, Chilling Out & others for your positive contributions

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SP1 is facing big legal bills in the ASIC case, possible fines and adverse costs orders. SP1 has no revenue generating assets. I believe also that the note asset it has with ISXF is not due for years, and the repayments it has recieved so far have been voluntary on the part of ISXF. It is a very live possibility to see SP1 left to go into adminstration if litigation with ASIC goes against it.

SP1 Price at posting: $1.07 Sentiment: None Disclosure: Not Held
9 Upvote

3 Great analysis

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