. Morning Session ASIC v ISX Hearing Continues - Tuesday 6th...

.

Morning Session

ASIC v ISX Hearing Continues - Tuesday 6th June 2023 - DAY 11

Good morning shareholders and readers,

Here's my notes from the hearing as it progressed.

Start @10.27approx.

Asic kc no further questions to mr seyfort

Isx kc has a few questions re visa matter clarifying some facts. Re incomplete negotiations & effectively a package meaning.... re shareholder documents announcement release to market.

No further question

@10.33 - mr seyfort dismissed



Joint feedback - Objections to mr harts particular questions discussed with his honour and what would be allowed.



@10.48 Mr Hart sworn in - isx kc did his usual id stuff and some other points of interest in regard to the objections just discussion by counsel.

@10.51 - asic kc questions begin to mr hart

Asic kc is asking about the 4 contracts - revenue payment re the back to back contracts etc Mr hart is giving great replies, a few answers stumped asic kc and he dropped that line and went off elsewhere.

I know Asic kc is doing his job and trying to pin down mr hart, but really he's being very over the top because he's not getting the answers that will benefit asic. Asic kc is choosing and using particular use of words that can only lead mr hart in one direction.... Mr hart is telling the facts and this doesn't align with asc to win the case. Asic kc isn't winning so far at this point @ 11.30

A number of times 3 or 4 sofar, Mr hart has had to explain to asic kc and his honour that isx was a start up, and any revenue to survive and continue in business is important at this start up stage. So if the margins were as the asic kc says small in the 4 contracts they were to survive and grow the business as first priority was mr harts answer continually to asic kc.

Asic kc whole case lies on getting the details sorted on the 4 contacts and the revenue - this equates to the performance shares being acheived. Asic kc is not winning sofar, mr hart is being authenic with his answers.

@12.05 isx kc objects to the questioning, mr hart leaves the room. Asic kc questioning is misleading. Isx kc wins the discussion. Will be addressed in final submissions.

@12.12 continues mr harts questioning

Talking about the worldline, Apple, K?? NAB, ?? and other issues that impacted isx decline in revenue in 2nd half 2018

Court adjourned @12.45

Returning @2.00


.