I have sadly seen this before. The ASX lets a company trade beyond reasonable limits while developing something. In this case the micro sats but especially [in our case] the background management software. Money is drained from the local domicle to do this. Once done, the company shuts up shop and sells off the intellectual copyright for a song and this is then used by a new and debt free clean company to make money for others.
An even smarter ploy I have seen is when they hold the IP in a different holding company and the listed business doesn't even have access to its ownership despite the development.
I would like to raise a glass to the controlling rules of the ASX and how they allowed this to happen to yet another group of enthusiastic investors.
Cheers boys,
See ya on the floor.
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I have sadly seen this before. The ASX lets a company trade...
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