ASIC revenue recognition & performance rights inquires...., page-9

I agree, the market shrugged it off at the time as anyone following the stock knew ISX were making no margin on their revenue.

I don't think shorting of the stock is relevant. Shorts as a percentage of SOI were pretty low, even if you compare to as a percentage of free float still not significant.

Maybe the revenue recognition relating to the perf shares deserved closer scrutiny at the time, but to expect the ASX to go over all 2400 ofd listed companies with a fine tooth comb every reportin period is not reasonable. Maybe the OM report and associated publicity brought it to their attention and they chose to look at it once aware of it.

It bring me back to the point of, does it really matter when it was looked at? If ISX have done the wrong thing (not saying they have) then does it matter if that was looked at in 2018 or 2019?

We simply don't know with any certainty whether ASIC are done with ISX or not. That media release on its own isn't sufficient in my view to be satisfied they are done.