So after +14 months of suspension ASIC commenced proceeding...

So after +14 months of suspension ASIC commenced proceeding against ISX & JK. The reasons, 1) disclosure and 2) false and misleading representations.VISA, which by the way is a disclosure issue as it happened months after the initial suspension.

So in summary the worst that could happen to us holders if ASIC can successfully prove this in court is;JK & ISX might be penalised and/or JK might not hold a director position?

On the positive side, this action by ASIC strengthens our court case against ASX as alleged disclosure misses or misrepresentations are not justifiable reasons for continued suspension.I have full confidence in the courts that they will see this through in our favour.If ASIC doesn’t intervene in removing the suspension after all this, then we holders might have case strong case against ASIC as well.A response to an alleged offense should be in proportion to the offense committed.The $500K lawsuit is real people. This is not going away, in fact ASX is now in a deeper hole than yesterday.They deserve every bit of this treatment for causing us holders a lot of pain.

Let’s not get distracted by the downrampers. While I preferred ASIC to step away and wait for the court's decision, today's news confirms that there are no serious concerns with ISX’s business.ISX is still a young business and will continue to grow well into the future.I also believe this decision by ASIC will not hamper our chances for a listing into a new exchange.