I think all the commentators need to take a deep breath and relax.
This is a common approach by asic to non compliance issues. Lots of companies have been in the same boat for failure to disclose. This seems to be a standard response and not specific as to dates or actions
Meaning you get a year in which to behave, and if you want to raise funds you need to do a full disclosure. It does not mean they wanted to raise funds at all. And under the circumstances a year is a trivial penalty.
I’m more concerned that asic will fine them for the failed disclosure events, they start at $33k and go up in the same amounts, meaning you could get a $330k fine per event
At this time asic seems to be very tolerant and that’s a good sign and nothing to panic about yet
BIG Price at posting:
$2.22 Sentiment: None Disclosure: Held
