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$1.07 southern cross payments ltd

What a load of rubbish, sorry but thats 5 mins of my time...

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Gaptrade1

1,928 Posts.

312

04/02/20

12:52

Post #: 42736142
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Originally posted by dragonz: ↑

I do not think ISX is in a good position regarding the court case and it looks to me like a lose/lose situation for ISX.
Although ISX can and may, ask the court for a further extension if they do not want to provide their defence which would mean fully providing the material and information that ASX has professionally asked for. However ISX may prefer to keep this private hence the court case.

The next stage would be enforced disclosure which again ISX could fight and extend further, but eventually, I believe, ISX will have to disclose.

Some of that disclosure will include the cryptocurrency transactions particarly around valuation that triggered some of the massive share allocation to Directors. We also have to remember that there is a strong undercurrent of movements towards making this cryptocurrency exchange more transparent with some pretty high profile arrests and imprisonment in Russia not to mention the links that is now being revealed around money laundering and countries like Iran and North Korea now using cryptocurrency to avoid sanctions.

Remember that the banking industry went through something similar even here with the big 4 banks. ISX may well just be an innocent victim of association at a time when regularly measures trying to plug the leaks. Money laundering is a real problem. Governments hate it because they cant get their greedy little hands on the taxes. Add to that the pressure is on ASX to tighten their act particarly around protecting investors from some unscrupulous behaviour in the past. But also other areas like share manipulation and bot trading. A lot of this is happing with highly leveraged products where small pip movements are more likely to enrich the provider then the Investor.

I doubt ASX could give a toss about competition and see ISX as a potential threat down the road. These guys are just not in the same league. As witnessed by the respective parties at this time

If ISX manage to halt the ASX report to market and ASX agree to let them trade again they may well be let of just with ASX's court costs and put on notice. ISX has got a workable product so unless market dries up somewhere they may well be worth a high risk type investment. They certainly have a passionate following. Just remember to buy the rumour and sell into the announcements. Invariably these high PE tech type stocks get sold into on positive results. Until the whole ride starts again

The worst result would be if ISX has done something drastically wrong and they get delisted. Then the Shorters and the investors get burnt (Shorters more so). Sure its still a viable company and you have a share in the company. But looking at that group of directors I couldn't image much cream would be left for the minor shareholders. That massive bonus and share allocation was about control. And the fat cat not too interested in hungry mouse

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What a load of rubbish, sorry but thats 5 mins of my time lost.
I'm thinking we will be trading very soon.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
17 Upvote

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