I wouldnt be surprised if ISX does go belly up - JK left it with a few cents, but realistically, the company was profitable until he stripped it to the overseas entity. That said, he clearly didnt strip it for ASX (he's the plaintiff, not the defendant), and he clearly didnt strip it so we could trade again (because we have had practically zero updates in months, and the cases will probably conclude before we do). He stripped it out of fear of ASIC. ASX case, he could win. I have it 75-25 in favour of ASX, but if ASX didnt document things well enough, then they built a rod for their own backs. ASIC I have practically no chance he will win.
Interesting points, and I'll give you my answers, sure. If we werent suspended, I'd have sold out for a tidy profit. That wouldve been a good outcome. But I dont blame the ASX for that. You dont blame the cops for blocking off a crime scene, you blame the perpetrator. You can blame the shorting house if you like, but that's what they do, and they were right, so again, blame the one who actually did the wrong thing.
I'd like to recover funds through ISXFEU. I hope we do well. I'll sell pretty much the second we can. I also hope JK gets his comeuppance for this trainwreck.
As for the board of our other share, I dont know them. I will judge their actions. If they do well, I hold. If they do something I disagree with, I'm out. I'd be out of here too, if only we could trade. I dont get romantic about companies or directors. Im here to make money. Blind trust in any company isnt a good investment decision.
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