New Finance Director - - AB1 re-listing groundwork starting?, page-67

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Godra

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27/08/21

06:41

Post #: 55610277
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Originally posted by DoubleDown!: ↑

This is incorrect.

Animoca were kicked off the ASX because of poor record keeping and reporting. Their cash flow statements and 4Cs indicated they were cash flow positive which was incorrect. They were then forced to revert back to 4C reporting and were suspended shortly after.

They were also accused of trading in crypto (financial instruments) without an AFSL which they failed to prove otherwise. They were suspended while the investigation and appeal took place, during which they spent $1m, and were ultimately delisted.

Since then they have not held an AGM, ratified or passed any issue of new shares, submitted a remuneration report or distributed audited financial statements to members (since 2019).

They are in breach of countless sections of the Corporations Act and eventually ASIC will step in, I expect before this year finishes.

They better have their paperwork together because they are going to need to dance to ASICs tune or risk sanctions which will not look good to any listing bourse.

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ASIC won’t do anything. Especially when you can still sell your shares for a profit.

And another question if you’re so unhappy with the company and want ASIC to to do something why are you not selling your shares?

AB1 Price at posting: 18.0¢ Sentiment: Buy Disclosure: Held
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New Finance Director - - AB1 re-listing groundwork starting?, page-67

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