Major shareholders, page-55

@Novac,

Had pretty much exactly the same as you - got to about 98k, never quite hit the 100k but that's the loss I'm taking (paper) also off a 55k investment. Do you honestly think I would have wasted so much time with ASX/ASIC if it was $10/20k....

When I invested in this it appeared too good to be true, so I decided I'm going to alert ASX/ASIC so that either:

I make money and all is good; or
I lose money but someone is held accountable - (after all on the basis of the info released it was a no brainer).

So yes it's a 55k actual loss (98k from last close)- but after you offset gains it will save me 27.5k in taxes I would have otherwise paid.

So a 30k hit. Yes it's not ideal, but it was worth the risk based on what was disclosed to us.

If you followed this thread back in the day - it was the reason I was so vocal against management. I am glad ASIC and the courts in the U.S. are pursuing them.

Would I invest in something like this again - a screaming buy. No. I've learnt that you can't take announcements on face value.

But I'm extremely glad that ASIC pursuing justice will stomp out this misbehaviour, so that one day an executed transaction with no conditions precedent will mean just that.