Unless I've missed something ASIC certainly aren't involved yet - it's just an application to get the share issue dealt with. Federal Court applications are a dime a dozen and happen every day. I can't vouch for the fact that all is above board as only the BoD know that, but, unless there has been deliberate attempt to benefit fraudulently from the share issue I'm sure all will be fine when it's finally dealt with.
Unless I've missed something ASIC certainly aren't involved yet...
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