Unfortunately litigation is the only option left and is it a case of good money chasing bad money?
As a result of the ASIC and ASX SO4 responses I have personally decided that the ASX platform is too high risk as an investment asset class. There are better ways to get a return on investments imo. In fact I am not sure of the % of companies listed on the ASX but it is a majority that never make a profit.
I have been progressively unwinding my holdings with one or two exceptions. Doing your own due diligence on individual stocks is a complete waste of time if the authorities are failing to enforce compliance effectively. SO4 is a great lesson why the ASX is a wealth risk not worth taking.
SO4 Price at posting:
31.0¢ Sentiment: None Disclosure: Held
