This is how to list on the ASX....no profits required....
Number of shareholders: Minimum 300 non-affiliated investors @ A$2,000
Profit test: A$1 million aggregated profit from continuing operations over past 3 years + A$500,000 consolidated profit from continuing operations over the last 12 months
or
Assets test: A$4 million net tangible assets or A$15 million market capitalisation