Ann: SP1 delisted from ASX, page-248

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Druss

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03/11/22

12:09

Post #: 64566911
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Originally posted by naomhan: ↑

For those saying "look at present value of any payout" - better to get on with business... there are two issues with this idea:

1. We were 90% of the way through the court case. We're at roughly the same stage the ASIC case was - after the companies put up the collateral for legal fees, it'd be time to set a trial date. We'd be looking at a 6 month wait for the verdict. The wait was already over.

2. This is a part of the reason why JK told us the demerger was a good thing. He's in Cyprus working on ISXFEU, and quit from SP1 so that he could focus on that. We have a different board on SP1, where their entire job was to focus on the court case. They have practically nothing else inside SP1 to focus on (2 or 3 card memberships, which have literally zero activity since the demerger). In terms of ROI, we have a company (SP1) that being generous, is worth $10m. Cash, card memberships, court case. So let's take the $10m value, and despite JK's yesmen telling us that the $500m was actually conservative, let's say that a reasonable verdict is $100m. That's 10x growth in 6 months. Heck, even if it was 10x growth in 2 years, that's still more than tripling in size each year.

The argument that "we needed to drop the case because we'll make more money without it" is simply false.

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6 months and the verdict would be in...hahahahaha
You in Australia? With delays and appeals etc 6 months is a long long stretch. Still think the case should have continued.

SP1 Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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