Jas.
Just to add to the excellent summary from
@rush, here's a couple of things to keep in mind.
Before the sin binning forced upon us, the company was kicking significant goals and profitable early, something that is atypical in emerging industries and in particular the fintech sector. It showed its pedigree propensity early, which is a set of qualities it has since relied upon to survive.
Despite the choke hold pincher move from the MO, in addition to the full court press from ASIC, ATO, VISA and Media, a scenario likely to kill off most nascent companies, the company has essentially negated each of these not insignificant hurdles.
- Convinced ASIC to allow demerger, negating the ASX hurdle. That was a significant win and game changer!
- As a consequence of above, effectively negated any major ASIC court proceeding hurdle. What remains is, in the bigger (global) picture, is insignificant.
- Effectively negated the ATO hurdle to a meaningless security bond. Its a personal matter so was never going to be anything fatal for the company, however, given its part of a wider reputation strategy, important its dealt with effectively.
- The VISA issue has been negated because the significant balance of evidence is overwhelmingly in favour of ISX. No other card issuer has reported any issue. VISA hasn't formally reported it. No regulator outside ASIC, in much stricter jurisdictions have found an issue.
- Media reported half truths, apologized formally, continued to pitch an unbalanced perspective. Lets keep in mind journalism these days has fundamentally changed from reporting without prejudice, whilst protected by local borders, to having to compete with media / social media with no borders, globally. We can thank Roger Eugene Ailes and the Fox News template for the nonsense 'entertainment' presented as fact these days. Digest their style of 'journalism' with that understanding.
- Lastly 98.3% of shareholders, including the largest professional interests who obviously think plan B is more viable.
The local court activity will obviously follow its course, but given the company is free to operate without hinderance and with the approval of ASIC in effect, it will use this experience and their previously established (and now polished) pedigree to push on to achieve important milestones. Its a long term hold, with the same significant potential as it previously had before the fiasco.
The ability to extricate itself from the above, illustrates the quality and capability of a management team that has not suffered any defections. These things combined, should be considered when making a determination about what lay ahead as a shareholder. Weigh the above up against the insufferable nonsense the resident trolls perpetuate, and you should have your answer. The trolls, mostly, consolidate the base case, which is why they are here. They are easily dealt with - ignore or facts.
Good luck!
