The only reason it has no access to capital markets is that ISX chose not to answer the questions asked by the ASX a few years ago, and get re-instated to the capital market that had raised its value to $1.07B, and instead fight the ASX in court, and, having discovered a treasure chest of evidence, abandon the case just when it was on the verge of winning $490-odd million dollars in damages.
If memory serves, it felt that asking those questions (or maybe it was answering those questions) might damage its reputation.
Lucky that hasn't happened.
Meanwhile, ASIC is suing the company, the CEO and MD - I can't imagine why they're doing that, or what that might be about, or whether or not that's related to why ISX sued ASX instead of answering their questions.
Could the two be in any way related?
But yeah, they're successful, now - just not for 9,999 out of 10,000 shareholders, who expect dividends or to be able to sell their shares; both are good, but one will do at a pinch.
However, you can do neither, for three plus years, which is pretty poor, unless you happen to be still pulling in a few hundred thousand a year as a shareholder and MD / CEO.
With it doing so well according to the latest quarterly, throwing off genuine profit, do you really think that it wouldn't be worth a roll of the dice at almost 200:1 to throw another 2.69M as security against costs to get $470M to $490M in damages? That is 78 years of your current profit, in one court case. Even if it took 5 years for you to get that payout, it would seem like it would be worthwhile, if there was even a 10% chance of winning.
But no, you prefer the logic of abandoning that court case.
I'm sure you'll rationalise the logic of not listing in 2024, when that is the latest announcement. JK/NK has started softening you up for that, so it won't hurt that badly when that comes.
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