I am assuming this will all be digested by both ASX and ASIC (with all the scrutiny put their way) and once they have clarified everything they will either say, great all good! or it will be a warning /fine.
I am no accounting genius but I would have thought the use of companies and the said private consultant business is very common for the services provided when it comes to small companies listing / growing. But also people should understand that as a director or secretary it does not mean you are the beneficial owner and the AFR should know this (which they probably do).
I think there still needs to be a serious investigation by ASIC regarding the AFR and other media outlets blindly making statements and then putting “this might not be the case” at the end to give them an out if they are publishing rubbish. A journalist is responsible for their actions just like anyone else.
BIG Price at posting:
$2.22 Sentiment: Buy Disclosure: Held
