The ASX were absolutely correct to reinstate quarterlies for AB1.
The rules state that the ASX may remove the requirement for quarterly reporting for entities that lodge four consecutive positive cash flows (from operating). AB1 did that, but the data in those reports was wrong. When corrected in the annual report it showed a far lower cash flow and so AB1 no longer fit the exemption rule.
AB1 was really sloppy in its 4C reporting (the numbers were added up wrong and completely out of whack) and absolutely deserves to retain the requirement to keep reporting. I for one much prefer to have the 4Cs than not have them, way better than waiting six months for reports.
AB1 Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
