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Thanks, @tradealot I look forward to your summaries of the next...

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10/03/23

19:16

Post #: 66706017
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Originally posted by tradealot: ↑

.

DAY 9 - Friday 10th March 2023

Hello shareholders & readers

My notes from today's hearing as it proceeded

Start @10.19

Both the kc's and his honour discuss setting the dates for the continuation of the hearing, a further week is required for completion.

Lots of dates discussed - the week of April 24th seems to be doable, subject to his honour's clarification some issues. A 10 minute adjournment whilst he does this.

@10.30 Court adjourned

@10.39 Court resumes

Yes the week of the 24th April is a go. It's subject to a few conditions with his honour, however it should be OK.

Isx kc, did say in the discussions that mr seyfort would be first witness, with mr hart & mr houston also to give testimony from 24/4

@10.40 - Isx kc continues to unwrapping the details to his honour of mr seyfort's affidavit from yesterday

Isx kc runs through the timeline history of the isx / asx issues. We know the details so won't expand further.

A lot of time was spent discussing the Clayton Utz 2 reports at length. The KL letters - some quotes were read out, Visa issues, emails etc all discussed.

@11.05 - The asx dirty laundry is really being aired from this point

Further from mr seyfort affidavit

7/5/20 Asx query letter. Asx looking for further reasons to keep isx suspended

Isx kc continues providing point after point of the asx's unprofessional conduct towards isx to his honour.

@11.35 - The visa audit by nexia accounting and consulting firm in Cyprus. They reported no AML issues per visa reasons found from the audit as per applicable laws. Some small issues needed addressing, nothing major though, these were addressed by isx.

@11.50 - Visa AML on web - was an administrative issue to do with, PCI DSS certification nothing to do with AML. They quoted twitter and stock swami's tweets with JK.

Still from mr seyfort's affidavit

@11.59 - 5/8/20 query letter - asx's agenda - asx stated that they weren't going to check visa's facts on any points in the termination letter. Isx finalised the visa announcement to the market on 24/5, asx are just raking up coals to create a controversy in the market under the guise of an asx query.

@12.20 that concludes the asx suspension / disclosure allegations etc

Isx kc summarizes his morning presentation to 12.29

Isx kc did comment that the actions of asx and asic have created untold harm to isx and it's shareholders

Asic kc, talks from 12.30 for a few minutes

@12.32 court adjourned, hearing will continue the week of the 24th of April 2023

I consider the past 9 days of hearing evidence to have revealed loads of facts that will be very beneficial to isx's defence of the asic claims. It's my opinion that the pendulum is swinging the way of isx at this point in the majority of points contested.

I won't count the chicken before the hatch type quote, on the judgement outcome as there's another week of evidence etc from the 24/4 to be decided. I'm very satisfied with what i've heard so far, what's been revealed, and the impact of asx / asic actions have had on isx and it's shareholders are being revealed in court and are now available to the public

Have a great weekend. Cheers

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Thanks, @tradealot I look forward to your summaries of the next week of cross examinations. I'll be road tripping in remote outback so will miss out on watching or even listening to this. Hoping that @ChillingOut will comment on the closings in particular as I expect that there will be some interesting technical legal arguments made that he has already foreshadowed, but would also like a sceptical holder's point of view

I guess I'll read about it in the AFR.

SP1 Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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