Your concerns are well founded. AJX press releases, while they...

Your concerns are well founded. AJX press releases, while they come fast and furious, don't include meaningful information. They're basically feel-good, puff pieces designed to generate excitement in those who don't read them carefully or ask more questions.

If AJX were actually making sales and deliveries rather than just lining up vague customer relationships they would say so. Instead it's all very vague and the customers aren't identified. There is nothing to keep AJX from announcing sales when they happen instead of waiting until the required ASX filings are due months later. That could put a lot of people's minds at ease . . . . except it wouldn't because there are no meaningful sales.

When AJX does finally announce what looks like it might be a real sale (first large scale production order) they don't say when it will be booked, shipped or paid for and they express it in terms of pounds of product rather than dollars. And, of course, before they actually announce the "order" they've had six other press releases saying how great things are with the customer. I predict the next 4c will show revenues of $75,000 or less. If it was going to be more they would have been citing some real numbers, not just talking about how "anticipated" contracts "could" have certain "expected" run rates.

As to the NYSE listing, there are two ways for AJX to proceed with the SEC: file publicly or take advantage of the JOBS Act and submit confidentially. Either way it takes at best about four months and generally longer. AJX has not filed the normal way or they'd be in the EDGAR system. They also haven't filed under the JOBS Act. If they had they'd be required to announce under the ASX listing rules.

But even if one refuses to read the rules or the precedent and thus doesn't believe that AJX whould have to announce a confidential filing, why wouldn't they announce it? AJX announces it every time they blow their noses. Every ASX company that submits a registration statement confidentially to the SEC under the JOBS Act makes such an announcement. I've cited the examples. And AJX puts out a press release on anything and everything they can. AJX is certainly not in the process of SEC review. And if they haven't started now they can't possibly be listed before February.

And just for the record, there is no general listing "blackout" in the U.S. Any company in registration can say it is in the registration process and talk about their deal. Under the JOBS Act they can even "test the waters" and make certain sales efforts that are not available to companies other than EGCs. The reason NC is not talking about the SEC and listing processes is simply because they are not happening.

The incentives are another good indicator of how far reality is from the story that's being told. AJX is taking on more and more of the characteristics of a typical pump and dump