Meanwhile Gino was likely planning on raising capital at 53c or...

Meanwhile Gino was likely planning on raising capital at 53c or above very shortly and now he has to 'knock up' a prospectus first and this following is taken directly from the Australian Government Treasury website:


Section 52: Dealing in Securities

Under the Corporations Law, issuing a prospectus that omits material information or which contains a material statement that is false or misleading is a serious offence carrying a penalty of a $20,000 fine or 5 years imprisonment or both

https://treasury.gov.au/sites/default/files/2020-01/sectn52.pdf

Thanks to Robert Sills for resigning from the Board without a replacement organised thereby, I believe, contributing to the calling of a suspension there is now this need for a prospectus to consider by the Board

And there will be costs involved in writing a prospectus