Sometimes they find a buyer for the ASX listed company shell as it costs a huge amount & lots of paperwork to actually get a company listed on the ASX (don't quote me but think it is about $500k by the time they get through 8 mega audits etc etc), but then SAS has 2.5 BILLION Shares on issue which is not attractive to any company who would probably then consolidate them like 1:100 minimum so you'd end up with pitiful amount.
Anyway, any money from someone buying the shell would likely end up in just going into Liquidators fees pockets as per usual.
https://www.lavan.com.au/advice/recovery_reconstruction_insolvency/asx-listed-shell-companies-hot-property
Unfortunately, been through a lot of these & often they never even bother to send a letter out or update you on what happened so you can't even write them off. (though I do think we will actually be updated on the outcome of SAS soon). I complained last year to ASIC & our local member about chasing up the governing of Liquidators to actually comply & update Shareholders to what eventuated & send letters out so Shareholders can get a tax write off rather than just let them get away with fleecing whatever is left then running off to the next one. These Govt bodies are so slack about insisting on Compliance from these vultures. Would love to stand up in Parliament & read out the long list of failures they still haven't got around to fixing yet for over 20 years..we are all getting tired of what they still allow Directors to get away with - have to tighten it up!
Anyway, not holding much hope but who knows...& Zara please lay off me just for stating I have a smidgeon of hope. I am allowed to until it is dead & gone. TY.
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