Ann: Change of Director's Interest Notice, page-29

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bkkrunner

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20/09/22

10:31

Post #: 63787624
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Originally posted by Stretguy: ↑

Further to my rant ofeven date. Please note that I am no apologist for the BoD and Management of IBX:AUD.
The real issue here isthat IBX:AUD allowed the significant funds that have been raised from its (mostly)Australian shareholders to be loaded into its US subsidiary. Nearly all the patentsthat have been acquired with those Aussie funds are held by the US subsidiaryand not by IBX:AUD. The patents should have been held by IBX:AUD (whoseshareholders stumped up the funds) and then licensed to the US subsidiary. Wehave also seen new premises and recruitment by the US subsidiary - all courtesyof funds mostly provided by Aussie shareholders. As it stands, in the event ofa Chapter 7 or Chapter 11 liquidation of the US subsidiary, the US Trusteewould just sell the available assets to either an existing US industry player,a US vulture fund or a Management buyout and take his/her fees. The Trusteewould have zero interest in IBX:AUD or its shareholders. This is the real and somewhatdistressing issue for current shareholders in IBX:AUD.
I have tried to raisethese issues previously with no real interest.
Regards, Stretguy.

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Is the USA subsidiary fully owned by IBX? If not, do we know the ownership structure of the subsidiary? if you dont know, lets get answers from Geoff Hollis

IBX Price at posting: 3.5¢ Sentiment: Hold Disclosure: Held
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