ASIC Commences Proceedings Against ISX and JK, page-259

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aniesbaswedan

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08/12/20

10:55

Post #: 49415395
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Originally posted by speculativet: ↑

As per the Statement of Claim, no revenue has been derived from any of these three customers subsequent to the one off integration fee. These were one off events and no recurring revenue was generated. I also think it is immaterial from a shareholders perspective whether value was created for these customers in the abscence of any value creation for shareholders. On that basis, I disagree with your statement.

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Originally posted by retiredyoung: ↑

Revenue has been derived from the customers. As you know ISX had problems with KAB and therefore ISX had to develop their own systems and revenue ramp up was delayed until CY2019.

Also why would ISX have received revenue in the preceding period, that was before the three integration agreements with Corp Destination, Fcorp and IMMO. I am not sure what point ASIC is trying to make, as it seems irrelevant.

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Originally posted by steve001: ↑

I read points 20 and 21 as merely circumstantial and they dont prove anything.

courts will tell us if any of the income from these 3 was illegal

In any case those funds received by isx from the 3 contracts have been used by the company to help establish what is now a profitable business, which pre short report went from 20 cents to well over $1, so to say there hasnt been any value created for shareholders from these contracts is well an interesting take. Also the learnings/IP isx would have gained from going through the process for these contracts.

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My suggestion is to google the term: roundtripping in accounting.

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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ASIC Commences Proceedings Against ISX and JK, page-259

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