JK has added it all up, he knows, keeps aluding to the "ol' boys club". This is a privileged white elitist cabal of connected individuals willing and ready to use all means to protect a gravy train developed over decades that has one central tennant, protect the ASX at all costs as without it they cannot rape and pillage innocent shareholders with impunity. This was a well organised and orchestrated hit job to destroy ISX and its AML/KYC tech which is a mortal danger to their closed trading platform the could have anything going on and nobody would know as their is zero oversight. How many times have they done it before,
I will keep repeating it. At least 850mill shares were in the hands of insiders, which leaves 250mill on market as no insiders sold. How many of the 250mill were locked away by holders as mine were. For the 4yrs before the OM report 800mill share changed hands and in the 4 weeks after with probs less than 150mill available 400mill changed hands and wiped $1bill off a $1.8bill MCap. I believe that is impossible without a high degree of planning and execution. This was targeted IMO.
The only reason ISX still exists is because they took Fed Crt action and remained profitable even in the face of overwhelming coordination by ASX, OM and the media to destroy ISX's business model. If we had not had the money to get to disclosure and reveal the ASIC/ASX collusion ISX was in mortal danger with permanent reputational damage and delistiing with little hope of listing elsewhere. We dodged a bullet long enough to force ASIC to blink. ASIC found themselves in a no win situation after having been played by ASX and the compliant media. ASX did not want that demerger but a few people at ASIC were very exposed already so stopping a 99.99% vote(with insiders, JK added) would have been a massive problem the way the Court case is going, hence the protection racquet folded. Next was ATO to be used by the ol' boys which turned out a disaster for them and more layers fell away. ASX failed and JK and ISXEU were free at last. They have lost. ClearPay will go into competition against them, ISX/NSX/JK are cultivating wealthy savy Saudi partnerships the like ASX must fear now a compliant ASIC has given legal advise to ISX that it is not a competitor and ISX now has direct communications into one of the wealthiest nations on the planet which could provide as much liquidity as ClearPay needs to take ASX head on.
So why would Dominic Stevens retire now before his pet DLT CHESS replacement comes online in 2023 if they keep a timeline which hasn't happened yet. For mine only 2 reasons come up, 1)they are unhappy with him on THE CHESS replacement, particularly cost or 2) someone at ASX has finally said "but what if" re ISX suspension and damages claim of $464 mill. ASX protection is unravelling and a loss to ISX could and should put their MO Licence, the cash cow, in jeapody. Perhaps someone on the board stopped believing Dom's assurances and read the Court documents for the true story.Would have been a $464mill plus Class Action " holy shit biscuits" moment. Maybe the insurer stepped in as they saw the Govt Agency protection racquet imploding. Don't know the reason but the timing couldn't be any more exquisite.
With ASX now friendless, (even Visa EU, used by ASX is on the way back,) they are very exposed and if anyone in the mainstream media or political elite decide to grow a backbone and highlight just what ASX has done to destroy a well managed and profitable start up to preserve its AML free zone protection racquet exclusively for the ol' boys network they could find the media turn on them quickly.
Australia has lost an amazing company, an amazing entrepreneur and inventor that is a rare breed, forever. Shareholders nearly lost their investment and have the brilliance of ISX financial systems, financial controls and hard work by employees to thank for getting us through one of the most unprecedented miscarriage of justice in Australian financial history.
I do believe the worm has turned and the events of the last few months are connected. Could there be a settlement in the wind, I sincerely hope so because ISXEU and Jk are relaxed, energised and free. ASX are the ones under pressure with zero to gain as they can't hurt ISXEU ever again and have a massive amount to loose. What is the point of continuing the court case given the absolutely hugely damaging discovery documents that Justice Davies did not allow ASX to have thrown out. They have zero evidence for and damning evidence against and ISX being tech savy could have more evidence to come. We know they're cunning, cruel and not the sharpest tools in the shed but to continue risks destruction of the ASX in an all or nothing play.
Time to make some noise team ISX.
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