Ann: Suspension from Official Quotation, page-149

And this is exactly why the company has not responded. There is no way they will put in writing that they have breached there continuous disclosure requirements.

IMO they are in discussions with the ASX and ASIC about trying to do a deal around this issue. Pay a fine, but that still leaves the door open for shareholder litigation.

Just as a side note many companies have been fined by ASIC for breaching continuous disclosure laws. Examples include Bellamy's and Sirtex.

I'm surprised that Brendan is talking to shareholders given the seriousness of the issues and potential legal ramifications.

If and when it re lists you would want to see a vote of confidence by directors and stand in the market at say 10c and buy a min of 1m shares each.

What if Yacov takes this private? Could he lob a takeover whilst the stock is still suspended and avoid having to answer the ASX query?

Why would the company we working on the HK IPO given no approvals, no contracts, recent Nasdaq debacle and now this ASX embarrassment?

Anyhow, not long until the next 4c. Will they put out a company update at the same time?