Ann: Listing Rule 12.1 requirements, page-2

So, ASX has given them until 1 November to basically acquire a business as,
"Bisan has been advised that the ASX has determined that the Company does not comply with Listing Rule 12.1 and the assets and operations of the Company are not sufficient to warrant the continued quotation of the Company’s securities to trading on ASX."

I like a deadline, and reckon nice reward/risk shell opportunity, just $1.3M MCap at 1.4c today.

Will they find a project from current crop under review?
Extract
"Bisan directors and staff have been very active in reviewing a number of proposals and investments. A number of investments have been rejected and there are a number of investments currently under review in respect of which the company is conducting due diligence. None of those investments have reached the stage were disclosure is required under ASX listing rule 3.1."