I think you guys might be giving ASIC a lttle too much credit...

I think you guys might be giving ASIC a lttle too much credit here.

Even with all these allegations in play I still harbour doubts that ASIC will get the job done anytime soon.

Don't forget that apart from all the obvious internal problems that they have essentially linked to high employee turnover and a non-commercial desire to succeed that ASIC are essentially ham-strung by a lack of appropriate legislation to quickly and adequately deal with this CVI situation.

I hope I am wrong but history suggests that ASIC simply will not act quickly enough. I was encouraged to see that they have linked some of their allegations to the WA Criminal code. If they can get the cops interested as well then this thing should move a little faster one would hope.

424 (fraudulent falsification of records) of the Criminal Code (WA) concerning the management and affairs of the Company in the period from 1 January 2007 to the date of the notice.

(page 5 of The Propectus)