Bank of New York Mellon Corporation, page-2

As far as I am aware they're not an institution that is supposedly "buying up" AHI. They just facilitate the shares/ADRs between Nasdaq and ASX.


Page 5 of the substantial holder announcements:

Relevant interest under section 608(1)(c) of the Corporations Act 2001 (Cth) arising from BNYM having the limited power to dispose of, or control the exercise of a power to dispose of, securities deposited with or held by BNYM (or its custodian or agent) in its capacity as depositary administering an ADR program for Advanced Health Intelligence Ltd (Company) under the Deposit Agreement dated November 18, 2021 between the Company, holders of American depositary receipts (ADRs) and BNYM (Deposit Agreement).
[See Note 1 below]

Note 1: Of the total of 45,796,256 securities in which the BNYMC Group has a relevant interest, BNYM has a relevant interest in 45,796,251 securities as depositary for Advanced Health Intelligence Ltd ADR program administered under the Deposit Agreement. BNYM's relevant interest in these securities arises as a result of the Deposit Agreement containing rights for BNYM to dispose of securities held under the ADR program in limited circumstances. Under the Deposit Agreement, ADR holders retain their rights to dispose of those securities and to give voting instructions for the exercise of voting rights attached to the securities. BNYMC Group's power to vote or dispose of these securities is qualified accordingly.