I received ASIC'S reply to my letter of complaint, and what a disappointment. ASIC obviously have no power over these companies or, in this case, must believe they are too small to worry about. They replied that they "will continue to investigate, but won't update me personally unless it is in the public interest to do so". What a pathetic response!!
They said that they had weighed up the evidence, and decided that no further action was necessary. They would up date their own data base as required.
How they can possibly say that "no further action is necessary" when they acknowledge that no Accounting Reports, AGM's, or Business Updates have occurred since 2019.
I never have had any confidence in this toothless tiger called ASIC, and their actions vindicate my previous thoughts. They have left us out to dry!!
A government enquiry is obviously needed into ASIC, to assess their value to the business, and consumer communities. Little wonder people take drastic action when they get no response from those who are supposed to regulate the market.
EHH Price at posting:
14.0¢ Sentiment: None Disclosure: Held
