Ann: LKE Market Update, page-265

dugsab, you've been up all night gloating, how pathetic. The ASX system is fundamentally flawed. The major criterion for determining and calculating the true investment value of a company that the ASX investors use, is the P.E. factor. Now, the E stands for EARNINGS. Lake has NO EARNINGs, yet the ASX "promoted" it into the "elite" ASX200, Australia's major market, KNOWING that it had NO EARNING. So, what a momentous fault in their system!! THEIR decision has caused losses to shareholders of over a BILLION dollars in the company's market cap. A classic shorting target and the ASX set it up and left all shareholders sitting there like a rabbit in a floodlight to get slaughtered and let it continue unabated. With the price crashing a huge volumes it still did not make any enquiry of the company!! Had it been the reverse a notice would have been despatched immediately!! The "system" favours short selling at the massive expense of mainly very innocent people, superannuants etc, who had NO control to protect their investment. Criminal!
This should be the cause of a major investigation by ASIC and the Federal Government.
What has happened to Lake shareholders, BECAUSE of that momentous MISTAKE by the ASX, should now be the subject of a major class action.
And as for the vultures who came en masse to the HC forum to gloat and condemn other posters and LKE shareholders is beyond contempt. There's a good old Aussie word for them and they have all lost any semblance of respect in the process. Actually should be banned from HC.