"On 30 July 2018, Bisan received a loan of $100,000 from the Company’s director Mr Lei Ding till 30 July 2020. The loan is free interest"
Oh OK A Wing lent $100k interest free, skin in the game, fair enough
What's the story with
KENTWAY INVESTMENTS LTD15,they own 14.59% 156,703 shares
"On 1 November 2018, a Loan Extension Agreement was signed between Bisan and Kentway Investment Limited to extend the loan of $1,691,198 at an interest rate of 10% per annum till 30 November 2020."
Bisan paying them $170k in interest per annum so they can list the borrowed $1.6m as an asset and they gotta pay it back in 22 months
while declaring a loss of 41.2m this year.
What's the plan for this shell? When are they coming out of suspension?
"The subsidiary has lodged an application for a new Australian Financial Services License on 19 July 2018. The first fund “Bisan Venture Capital Fund” is registered as an incorporated limited partnership in New South Wales under the Partnership Act 1892 on 27 August 2018"
Is this venture capital fund going to fly?
"ASIC is seeing to wind up Linchpin. The matter is listed for a further Case Management Hearing on 19 October 2018. As a result of the ASIC action, the District Court proceedings have been adjourned to early 2019."
Are bisan due any money/assets from Linchpin?
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