FAS has been insolvent for some time, yet no action by the...

FAS has been insolvent for some time, yet no action by the directors. Has a single word ever been uttered by the current Chairman since his appointment?
Instead of writing pathetic "aware" letters on disclosure that are like flogging the directors with a lettuce leaf, ASIC/ASX should be focusing on issues of possible insolvent trading and maybe having a hard look at previous years accounts that were signed off by the auditors, mind you with huge qualifications. But that would simply be too much to expect from ASIC/ASX to show real teeth and get stuck in for one of the most appallingly managed companies on the ASX over the past few years.