Ann: IOT to Act as Exclusive Advisor, page-7

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Sharestuff89

468 Posts.

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05/12/18

21:09

Post #: 36763761
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Originally posted by john_utah ↑

Mark Roper, the new General Manager of IOT is the Co-Founder of Royalti Blockchain Group.

Tim Sommers is also a founder of Royalti Blockchain Group.

Didn't IOT do a deal with Royalti Blockchain Group back in July? What's happened to the 5 million ERC20 Tokens? Did IBAC receive these?

Now Royalti Blockchain Group had a failed bid for Great Keppel Island and now it's going after Dunk Island..?

IOT spent $345,000 last quarter on Admin and corporate costs... what a joke.

Also, IOT announced back in May that it signed a Binding Term Sheet with RBC for power and floorspace at Redbank Power Station.

It now comes to light that IOT has never had a deal with Redbank Power Station except for having a few preliminary talks:

Mr Poole ruled out ideas of Redbank as a bitcoin or blockchain power source, after articles early this year, but confirmed there were talks.“We were approached by a guy about bitcoin. We thought it might be interesting but it hasn’t come to pass. We were never sitting here thinking we were going to produce bitcoin,” he said.

Surely IOT can't announce a "binding term sheet", which appears not binding at all, for something they never even had the rights to sign for..??

When are the ASX going to get off their backsides and take a look at this mob?

It appears IOT can just announce whatever made up event comes to pass and get away with it as long as they chuck in a few disclosures stating that it's "conditional"

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I’d like to see ASIC and ASX do a full audit on this mob from day dot. Find out where all these millions have been spent. Then check out the links between all these entities - don’t seem arms length...

IMO

IOT Price at posting: 0.1¢ Sentiment: Sell Disclosure: Not Held
6 Upvote

0 Great analysis

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