What choice did ISX have in the ASX case? I don't understand. I...

What choice did ISX have in the ASX case? I don't understand. I know you don't go into business to sue people, but if you are legitimately wronged, and you uncover a treasure trove of proof, and you have long-suffering shareholders who have been significantly harmed... you continue the case and win. That's the obvious choice. Half a billion dollars? He had to stump up a few mill for security, which was available, and the next step was set a court date. We'd probably be holding the trial this month or next. They'd done 90% of the work. Spent millions on legals. They were literally up to setting a court date. There is no argument for dropping the case if you had even a 10% chance of winning.

On relisting on the ASX, I'll give you both sides of this argument.

First, the case against SP1 has little to do with relisting on the ASX. If we wanted to relist, suing ASX was the way to do that. The impact that the ASIC case has is that if JK loses, he'll probably be banned from being a company director. This would also be problematic if he attempted to lift on the LSE or other big exchanges. Pther than that, jk has made it clear that he has no intention of listing in Australia again.

Pro-JK argument: Even if we won the case against ASX, they'd argue ASX would have it in for us, and we'd never get a fair go. It's better to be on a foreign exchange because thats where our customers are. They'd argue greater ability to capital raise on a market where regulators had a greater understanding of the product.

Anti-JK argument: The obvious reason to offshore 95% of your assets using a legal manoeuvre while the regulator is investigating you is because you dont expect to win. It's also not better to be on a foreign bourse if your shareholders are 99% here. It will be 10x harder for any of us to sell our shares (if JK ever lists us). Where your customers are is irrelevant. Where your head office is is irrelevant. You can list anywhere. We dont need to cap raise, we're cashflow positive, and for growth you'd still be able to cap raise here. And if you beat ASX, they could have it in for you all they liked, they'd be under so much scrutiny if they even requested a paperclip from us.