The ASIC lawyer stated in his closing address in the ASIC vs ISX case that we have “no evidence” in their claim that the performance shares were gained for “improper purpose”. Even if, for some non-evidential reason, the Judge finds in favour of ASIC in that claim then an appeal would likely be forthcoming. Trying to win a case based on a statement that we have “no evidence” would seemingly be futile.
With regards to the ISX 15% misleading statement claim from ASIC, the only witness ASIC had was a person who stated he was an expert however admitted he did not read the 4C for end of June 2018 that clearly displayed that the cost of goods had risen substantially, he suggested that few investors read that document. How uninformed is he when that is the document that intelligent investors rely on to gain financial insights into their investment rather than an investor briefing that few people attended and was open to verbal interpretations.
The Visa completion announcement that was “late’, as ASIC claim, was not completed until 12th May 2020 when it was clear that all negotiations between ISX and Visa had ceased. After notifying the Cyprus Central Bank and waiting for their response, ISX released the VISA completion announcement on 24th May 2020. During the ISX and Visa negotiations ISX were relying “in good faith” on advice from their Lawyer who was advising that ISX did not need to release an announcement until 12th May 2020. These are the facts from the Federal Court case between ASIC and ISX. No Australian Regulator has come forward with “evidential facts” that demonstrate any “wrong doings” by ISX, even after more than 4 years, and with all their investigative powers.
ISXF operate in a more highly regulated financial global market with EU & UK banking Licenses. These highly regulated financial institutions continue to support ISXF. The patented ISXF payment platform is one of the fastest KYC and settlement platforms available and increases the on-boarding of customers to their merchant clients substantially. Merchants also obtain the funds virtually instantly. I am an early investor in ISX and continued to buy shares. I have no other association with ISX, SP1 or ISXF.
For further reference see Post #: 71497341.
