Just read ISX's response to the report published shortly before the initial suspension. It contains examples.
OM stated that the revenue targets were met by a margin of $1,347 i.e. revenue for the period was $5,001,347 excluding R&D grants and interest income. That's misleading because there were 3 separate performance targets with a tranche of shares attached to each. They just reported the maximum.
They also reported: “After the revenue hurdle was met ISX changed balance date from June 30 to December 31”. The way it was reported would suggest to the reader the reporting date was changed to obscure the fall in revenue that was anticipated in the next half. They failed to mention the reason given by ISX for the reporting change, which was to align reporting between Australia and EEA.
The fact remains had they sought clarification from ISX, the report would not have had the effect they wanted.
ISX Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
