I'm not commenting on the business the company is performing or the investments it is attracting. I'm commenting on their governance and compliance. In regards to the recent investors though, as noted above, it is my understanding that the shares cannot be issued until an EGM has been convened and the matter voted on. I also doubt somehow that the investors will have handed over their money in the absence of Animoca having the legal authority to issue those shares. This whole matter may be complicated because the company is not in compliance with governance requirements; specifically, it has not lodged audited accounts and has not held any AGM for two years.
The company is an Australian public limited limited liability company. It has to comply with the provisions for public companies under the Corporations Act. If it wants to list on a boarse it will also need to comply with the listing rules and any conditions imposed by that exchange.
I find it interesting that people want to argue about matters that are hard fact, especially in the context of this whole discussion being around the advertisement of a company accountant role. I think it is a pretty straight forward statement of common sense to point out that the company, and this new accountant being sought, is going to have to bring the accounts in order and get them successfully audited. Regardless of whether we relist somewhere or not, at the end of they day any company has to abide by the rules of governance and transparency. Regardless of where the secondary market trading is at and regardless of how big-shot the latest investors are, don't lose sight of the fact that companies that lack transparency and governance, even the ones that seem to be going gang-busters (actually especially the ones that appear to be going gangbusters) blow up. I was around in the 1980s and the dot-com bubble. I've seen it all before.
At this stage I am holding but don't lose sight of the need to assess and manage risk across all your investments.
