No matter whether this is company's incompetence or ASX dragging the process to "make a point" or a combination of both, quite a frustrating experience for the shareholders, who ultimately suffer in these types of situations.
I believe now we reached a point where if the news is good, people might dump because they feel "why they took 2 months for this deal"...unless there is enough detail clearly explaining what happened, which is normally not the case with this co. If the news is superb, I still anticipate a run for the exit when it opens, and then a sharp recovery, because many might just want to get the heck out at any cost and don't want to look at this anymore. If the news is bad or if there is no news, needless to say what happens.
I too have contacted the company during this suspension and been told that the co. is operating as BAU behind the scenes, and the delays are purely because of the ASX (re)compliance process. What I don't understand is why don't they put some detail explaining what's going on rather than a copy/paste of the same suspension extension one pager. Is it because that's how the company operates i.e. give information on a need to know basis, or because per ASX rules they can't detail much about the compliance process (we've seen that even ASX says that it sometimes won't disclose details of its investigations, but rather share just the outcome), or because every announcement goes through an ASX gatekeeper so there is a very low chance of such information passing through the checks and balances whilst a compliance process is underway. I have no clue! but very frustrating experience indeed.
Having said all this, personally I still feel there is there is something good which would pan out of this nightmare. Yes, there are numerous issues here, but for me nothing above and beyond what I've seen in other nano caps. I don't see any evidence of directors drawing huge salaries (life style companies) or free shares...the TOP20 compared to the last year's annual report seems intact (sticky holders, and they typically know more info than us)...low'ish quarterly outlays (if you exclude the one-off $700k debt that's repaid recently)... revenues in much better shape with Lantene...decent cash in the bank...pot sector overall due for a run and typically when that happens SCU too is lifted up with the tide. It's a shame that communication is so poor! Wonder what monsoon is doing except collecting fees!!
Regarding courts and AXP - I don't know much about this, but looks like that's a different situation
@seetha. If a company misses a quotation of shares notice or relevant cleansing notice, then by law they have to go to court and prove that it's a genuine mistake before ASX allows it to trade again. Saw that in lots of companies, mostly because of oversight e.g.
5538998957794855. I don't think SCU can go directly to court for the current issue/matter...I might be wrong though. But, I do agree with what you said about no concern for shareholder communication.
Btw, real pictures of me from the past 2 months
...myyyyy preciousssssssss.......if you can't cry, you at least have to laugh
View attachment 3892139Have a good weekend all!
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