Below is what Greenday do for a living.They used Advanced Ocular...

Below is what Greenday do for a living.
They used Advanced Ocular as a backdoor listing to purchase another private company.

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Another party expressing confidence in the sector is former eye care company Advanced Ocular Systems, which has reiterated its valuation of acquisition target International Formwork & Scaffolding (IFS) at 20 cents per share in a supplementary bidders statement lodged this week.

Advanced Ocular, now effectively a cash box, decided to get out of the eye disease trade and into building scaffolding after scouting around for an operating business that could provide strong growth and value. Advanced Ocular is offering IFS 8.8923 Advanced Occular shares and 4.4461 listed B options for every IFS share. As a condition of the offer, Adanced Occular is hoping to raise a further $2.5 million in cash at 20 cents per share to be used by the merged entity, which will be renamed IFS Construction Services.

IFS is an unlisted public company based in Perth operating throughout Australia, South East Asia and the Middle East. IFS was earlier contemplating an ASX listing. Advanced Ocular is advised by Greenday Corporate and solicitors Steinepreis Paganin, which has previously advised IFS as well.

Greenday's two principals, Evan Cross and Vlado Bosanac ('a self-styled venture capitalist') are both directors of Advanced Ocular. They too were previously advising on IFS's plans to list before the bid was launched.