AB1 0.00% 18.0¢ abarta resources limited

"I have been receiving emails every week, sometimes few times a...

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    "I have been receiving emails every week, sometimes few times a week and the CEO directly responds to my emails" @Mom88

    These are promotional emails that are used to showcase positives. This is all fine and dandy, but they are only disclosing what suits their narrative. You choose to interpret these emails as evidence that the company is on an "explosive" growth trajectory. My point, is that they also need to be disclosing the other half of the story so that we can make an informed decision.

    You have also conveniently failed to acknowledge that your prior statement was misleading. Instead, you change tack and imply that audited reports are an irrelevance.

    Don't get me wrong, I have high conviction in Yat's vision, but one shouldn't assume that Animoca is being run in the best interests of all shareholders. It may well be the case (and as holders we all hope so), but none of us have the faintest idea. Audited accounts are necessary to determine whether Animoca are upholding their fiduciary duties.

    "My take on the situation is that at the present the company does not intend to re-list as it does not need to raise any funds for acquisitions. Reasons for this are that they are extremely liquid at the moment, COVID has made it extremely difficult to do and if they do need extra funds in excess of their current reserves they can do a private raising" @procrastinator

    How do you know that Animoca are extremely liquid? They could be burning through cash for all we know. They may have offloaded the majority of their crypto assets. They may have quadrupled Yat's salary for all we know. Yat's latest interview revealed little of substance. Contrary to your claims about COVID preventing a relisting, the facts speak for themselves. IPOs have broken records over the past six months. Just as COVID is nolonger a valid excuse for failing to provide audited accounts and holding an AGM/EGM, neither is it a plausible factor in "preventing a relisting".

    To address your final point, until Animoca are able to public audited accounts they have zero chance of raising funds through a private placement.

    @hercules007
    It would appear plausible that the nature of Animoca's business, such as holding crypto assets, might add a layer of complexity to relisting on a reputable echange, but it hasn't caused an issue for other companies. Even here on the ASX there are companies, such as DCC, that hold crypto assets and let's not forget Tesla.

    In my view, Animoca are unable to issue audited accounts, and thus even contemplate relisting, because the auditor's have raised issues that the company, to date, has been unable or unwilling to address.



 
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