Hi Plext
You are spot on. At least GCN is at last showing some thought about its shareholders.
I thought I had posted yesterday on the technical matter you raise, but I can't see the post - so here it is again.
It is interesting to source the two listing requirements that GCN is arguing about with the ASX
LEVEL OF OPERATIONS
12.1 The level of an entity’s operations must, in ASX's opinion, be sufficient to warrant the continued quotation of the entity’s securities and its continued listing.
FINANCIAL CONDITION
12.2 An entity's financial condition (including operating results) must, in ASX's opinion, be adequate to warrant the continued quotation of its securities and its continued listing.
http://www.asx.com.au/documents/rules/Chapter12.pdf
It is months since GCN made revenue from its operations. Selling the family jewels, in the form of GoGreen shares, is not part of GCN's operations and the original reasons for listing.
So far as I know there has been no full audit of GCN's claims on behalf of GoGreen shares - just an audit review. Perhaps ASX want more than an audit review - something that shows GCN's money, so that ASX can be sure that the family jewels are not 2 Dollar Shop objects.
Come on GCN! Get on with earning and show ASX the money. Surely that's not too difficult, and better for shareholders than your arguing with the ASX.
