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clock Created with Sketch. 30/05/24
19:51
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Originally posted by Shortblack:
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Looks like ASX may be building an arsenal to finally flush this turd.Half Year Report - June 2023 A$500,000 of the Convertible Notes issue will require shareholder approval as the note will be taken by 4F Investments Pty Limited, an entity associated with Fred Bart. The other A$2.5m has been taken up by five other existing sophisticated investors and the funds already received. There was no EGM held.Full Year Report - Dec 2023 On 27 October 2023, the Company issued a Convertible Note amounting to $500,000 to 4F Investments Pty Limited, an entity associated with Fred Bart. Shawn knew that the issue of the notes and options didn't satisfy the listing rule exemption he mentions, which clearly states the notes needed to be issued before the company is listed.
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can you explain how plenty of other companies have ended end up in suspension, broken lots of rules , but prior to resisting they have ticked all the boxes , done there agm etc prior to applying to come out of suspension and have successfully done so even while breaking plenty of rules that got them suspended in the first place ?
(20min delay)