ASIC v ISX Hearing, page-2441

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Transvenosis

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03/02/24

16:30

Post #: 72221311
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Originally posted by JoeGambler: ↑

That has nothing to do with whether the revenue spike, and the circumstances around it which led to the issuing of massive amounts of shares to insiders, broke the law. It also has nothing to do with whether the company broke disclosure laws related to Visa.

This is just an attempt to paint the intial suspension as some injustice, so therefore who cares about anything else that came to light as a result. Karantzis is also leaning into the short sellers were out to get us narrative which plays well publicly, but anyone who cares to look can see ISX did not have much stock held short, relative to big targets that get 10%+, and I don't recall there being some big spike of short interest before this all kicked off in 2019.

ISX was suing ASX, if there was corruption at high levels related to its treatment, why did it abandon its $500m lawsuit?

Again, the actions of ISX contradict the narrative. The company's actions indicate it had no real case against ASX so it folded, because any company even with some chance of massive damages would pursue it, especially on principle. This is also emphasised by the ASX not recognising the case as a contingent liability, which would have required the board and auditors to sight legal advice saying as much. By not disclosing a contingent liability, ASX obviously had legal advice saying the case was a zero.

The cash was in the bank to pursue the case to trial, just look at the latest quarterly, all that cash sitting there over in Cyprus!

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ASIC v ISX Hearing, page-2441

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