^see below excerpt from the original ASX letter. I can't see them being reinstated any time soon.
They basically told the ASX (a) they had no idea about basic listing rules and (b) openly flouted them once they were informed. Most likely they have received a show-cause notice, they would be lucky to escape with a censure rather than delisting.
To some extent the company's responses have backed them into a corner. They claim they urgently needed large amounts of capital, but then did not even attempt to raise funds in Australia. If you don't see the ASX as a viable capital market then how do you justify being listed on ASX?
Of course the ASX may be happy to keep taking the hefty annual listing fee cheques and let them off with a rap on the knuckles.
