If you didn't already know the whole ASX microcap is scattered...

If you didn't already know the whole ASX microcap is scattered with "mates looking after mates" then that's a great lesson learnt. Honestly, there is lots of dodgy stuff happening all across the ASX and it's good to be aware of it.

One reason so many smaller companies list on the ASX is the hurdle to list is much much smaller than other stock exchanges, e.g. Nasdaq. These small companies come with a lot of risk, one being that deals with institutional investors or other third parties aren't always in the best interest of smaller shareholders. Many here are already well aware of this. I'm glad you've come to this conclusion too.

Good luck to you, and every other small investor on the ASX. We'll get our share of returns too.