The delisting probably explains why The Company closed the nWay & Quidd (pending shareholder ratification) so abruptly and within a couple of days from each other in late February!
The nWay deal was just announced in mid December, 2019 and Quidd was several months prior to the nWay announcement and these deals have been taking close to 6 months previously to complete all the due diligence required prior to a closing occurrence .
This might indicate The Company May have felt for a few weeks that dealing with these people on the exchange just wasn’t going to end well!
So, I would be hopeful they have a head start on listing on a new exchange so they can have access to the shares as soon as possible and we could all enjoy having the ability to become liquid as well!
Outside of the new listing expenses, they unfortunately will likely have to spend another small fortune in legal and accounting fees to modify and update all closed partnership and acquisition transactions involving Aussie shares in addition to reissuing the 1 Billion plus outstanding shares being held by everyone involved!
If they didn’t need access to their shares it would make complete sense to stay private for a few months.
Not sure how long they will be illiquid, but there are ways to Fast Trac a public listing if they feel the need to get this done right away.
It appears that management chose to throw in the entire kitchen sink regarding expenses and taxable accounting moves into 2019 numbers that would allow them to clear the deck moving forward and operate with clean balance sheet moving forward into 2020!
They were also basically forced to reclassify some significant transactions involving digital assets in an effort to appease the almighty exchange.
A large amount of the losses recorded in 2019 were one off expenses , ( but unfortunately new one time size-able expenses for 2020 surrounding relisting on a new exchange, legal & accounting) are going to hit the numbers again in this current year! (Yuk)
Who knows to what level the market will value The Company with another round of body shots these guys have been faced to deal with on top of trying to build out an early stage Company surrounding digital ownership made possible by new technology’s?
So much talent and experience packed into this Company's management team, with their visionary leader Yat Siu probably working as hard as anybody in the Company!
This is a very difficult place for The Company and all of their shareholders, but I am hopeful given some time they can rebound and maybe by late 2020 we will be in a much brighter position!
All my opinion, thoughts and comments only
ugh
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