Director responsibilities, page-5

Of course that could be an excuse but let's explore that.

First they have been talking about dual listing for a long time. They haven't achieved that yet,: is so to transfer to Nasdaq and abandon the ASX seems like a long shot to me - as well as a huge distraction and substantial risk for a business that has yet to gain full traction in terms of financials and has a share price that continues to struggle.

Moreover if a decision were made to take that step with a board that does not meet current legal obligations I'd have thought that ASIC would be rather interested and shareholders ought to be concerned.

While some might argue that the company really should make that transition to being a US company because that's where operations are based, there is a view that it is easier to list a company in Australia than in the US when it an unproven business.

In my opinion if you make that choice you must accept the legal obligations that go with being ASX listed. As I said before the wording in the legislation is not discretionary - it certainly doesn't include any words that might be interpreted as giving a company the power to exercise discretion based on some future possible action.

Parsifal.