This is where Asic AND ASX ARE A SOFT TOUCH imoTake action -...

This is where Asic AND ASX ARE A SOFT TOUCH imo

Take action - well that is the biggest scam and joke on investors unfortunately IMO.

Reality it is a refreshed company and they will deny anything to do with past IMO.

All you have to do is say you have a history of raising money or that you have a possible facility or you are still negotiating and they will let it go through to the keeper. A restructure pending is the other one along with - have just changed management and need 12 weeks to get on top of stuff etc

Honestly it is a strategy IMO.There has been many companies who have a "facility" that theoretically could be drawn on ( usually provided by a related party but not a declarable related party) and surprise surprise when the walls close in the facility can't be drawn on. I would like to know if they still have a interest in the Algae stuff that was announced elsewhere that had been disposed and if they didn't dispose of it when did they lose a interest in i?

Very interested to see if any related or previously related parties ended up with any equity or income / employment from the vehicle that has bought or been given these assets . I assume without staff and knowledge if they were worth anything tehy were only worth that with the knowledge .

The swapping of directors etc is often a warning sign as you switch em around enough and you have deniability and it was always another Dir fault for any indiscretions and if only a few indiscretions are made by each Dir then ASIC etc are likely not to persue but the reality when they all come from the same firm or related through business etc it is a strategy to distance themselves by time and prior directors etc from any things that went on.

All this frustrates and dissociates shareholders and takes so long all the old stuff is forgotten and small holders get flushed out with new issue after new issue and diluted into anything but a "spread of holders"God help the auditors but so little $ is at issue in the end no one is likely to take action.

Not saying any of this is happening or happened but some ASX co have followed this path to rebirth a company shell that could have a value of 2 mill odd if it is in the right sector so they can back another investment into it and recapatilise.