I have been involved in setting up our company in a model and...

I have been involved in setting up our company in a model and using the same type of accountants as TV2U retain.

Singapore entities are created for tax reasons with the effective rate of tax far lower than Australia. The key shareholder is advised to become a tax resident of Singapore and also to put a company in Singapore to house the IP so if the trading company folds the IP is protected from the creditors in liquidation.

A licencing agreement(normally non-exclusive) will allow the IP to be used by the ASX listed entity to fulfill its charter and operate. Trusts and other legal entities can be spawned to allow monies to be warehoused or held in beneficiary.

The ASX listed entity has little window into the activities of these operations in Singapore and those entities as its sole right is to use the IP granted to it. It may not necessarily enjoy the fruits of revenue and income derived from the activities offshore of these entities. It depends on the persons directing those entities as to what rights are granted to the ASX listed entity to partake in opportunities.

We see TV2U speak of IOT and advanced analytics, and in 2017 that they promised an independent valuation of some of its IP and operations, that possibly might be shared with TV2U International. I never saw that valuation eventuate.

For all we know some of these entities are making money for their Directors but we have no legal right to know or share in that beyond what specific agreements are in place.

I also think Sunfly and the Karaoke app are not generating any reportable income at this stage else it would be in the quarterlies.

All IMO DYOR.