Yesterday I contacted Computershare. They confirmed that Axiom is still a registered company, although no longer listed on the ASX. The only advice I could get from them is that we would have to find a buyer who would be willing to take them in an off-exchange transfer. Apparently, as long as the company remains in existence, we CAN'T claim a tax loss until we've sold our shares.
Which leads me to wonder whether Ryan Mount is a totally self-centred, reprehensible sub-human with no sense of responsibility or accountability to shareholders and, like an immature little toddler, has just walked away from the mess he has created... OR whether he has some future intentions for this presently on-the-shelf company.
It is also of some concern to me that in an obscure Axiom document I read a few years ago, we were referred to as the "beneficial owners" of the shares - NOT the ACTUAL OWNERS. My understanding of the difference is that SOMEONE ELSE actually OWNS the shares we thought we had paid for; all we "own" is the benefits attached to the ownership of the shares. The legal implication of this seems to be that in the event of an entity going belly-up, because we don't actually own anything, the real value of our shares can be "bailed in", someone else absconds with anything that is left over, and we are left with nothing!
If anyone reading this is in a position to do some more research on the implications of "beneficial ownership" and report back, I'm sure we will all read it with considerable interest.
Mr Pig.
AVQ Price at posting:
2.5¢ Sentiment: Sell Disclosure: Held
