It is a question of Public enforcement (as in the US Blue Sky...

It is a question of Public enforcement (as in the US Blue Sky Laws where each state reviews investment materials provided to the public) and Private enforcement, which means the ASX and ASIC doesn’t read everything, and unless shareholders report fraud, or bring a class action hit against company directors in court, enforcement is rather hit and miss. Here’s a paper on it:

https://www.researchgate.net/publication/261884934_Public_V_Private_Enforcement_of_Securities_Laws_An_Australian_Empirical_Study

Beyond the idiotic “excess inventory is a good thing” statement, there is a much more blatant clue about manipulation of the present financial statement under discussion.

See my next post about “The Big Bath”