TAKE CARE WHEN VALUING YOUR ISX SHARES - we had 2 quarterly...

TAKE CARE WHEN VALUING YOUR ISX SHARES - we had 2 quarterly report results we could not trade - 30 Sept and 31 Dec quarters.

An excerpt from post 42746698 from 4/2/20 - Dineen.

There was also further/later discussion on the impact of the SP price if performance shares were relinquished (now escrowed).  JLo himself posted that he thought if ISX performance shares were relinquished then the share price would be around $4+.  Can provide the post but last search crashed.

Excerpts from my post - do look at Nasha's earlier post 4 Feb 2020 - IMF concerns re ASX's blockchain...

However - points 3 & 4 in my email below - something I have been wondering about the past few weeks/days - the impact of having 2 positive and profitable reports from ISX for the past 2 quarters and none of us being able to view/witness the impact of those reports on ISX's SP trading.

Nasha - sorry to be rushing all posts together - the IMF concern re blockchain and ASX's controlling architecture - I hope you send the source link to ISX investors as a FYI with some of your comment and others' comments.

My post - another lengthy one - I always want to provide the evidence....hence the length - the actual excerpts and/or evidence -

Point 1
EXCERPTS 21 January 2020 – investor email from ISX
------ Original Message ------
From: "John Karantzis || iSignthis CEO (ASX : ISX)
Sent: Tuesday, 21 Jan, 2020 At 12:22 PM
Subject: General Update
Prospectus
The Company confirms that it will need at some stage to issue a prospectus, as the securities in the Company have been suspended for longer than 5 days. The prospectus is not a bar to lifting suspension, and is not required for the securities to be re-quoted.
The prospectus is a bar to new share issues being able to be traded within 12 months of issue. This includes options being converted to shares. However, as the Company is not at this stage contemplating any new share issue, this is a minor factor.

Appendix 4C
Appendix 4C will be released on or before the 31st January 2020, per our ASX Listing Rule obligations.

General Business Update
The ASX imposed suspension is affecting our growth and has dampened some demand from potential customers. Existing customers by and large are unaffected by the suspension.
The Company remains positive in outlook, and continues with business as usual, with the impact of the suspension continuing to be assessed. The negative connotations of suspension diminish rapidly upon re-quotation of ISX securities.


Point 2

Excerpt from ASX : ISX 4th Quarter Report 31 January 2020

• Q4 Revenue: $15.35m UP↑79% from $8.58m (Q3 2019).
• Cash Receipts: $15.70m UP ↑ 88% from $8.33m (Q3 2019).
• Company Own Cash: $17.70m UP↑ 43% from $12.38m (Q3 2019).
• Client Funds Held: $96.18m UP↑ 24% from $77.74m (Q3 2019).
• Full year 2019 Cash Receipts $31.44m.
• 3rd Positive Consecutive Appendix 4C.
• Profitable first year of operations whilst operating own Tier 1 network.
• 2019 success and profits based upon foundations laid in 2018.
• Company continues to grow organically without need for capital funding.
• 4th Quarter costs higher than expected. **
• Investment of ~$750k this quarter in R&D/IP for new products.
• Commercial dispute with ASX Ltd has slowed growth and impacted EBIT.
• Damages claim against ASX Ltd (ASX : ASX) accruing.

** (my comment – 4^th quarter 2019 costs higher than expected due to developing their own SWIFT tier 1 platform announced 6 Dec 2019 plus costs due to the need to legally challenge ASX’s suspension of ISX share trading which has not been explained to date to ISX or its shareholders).

Points 3 & 4
WHAT IS THE IMPACT OF NOT BEING ABLE TO TRADE SHARES WHEN TWO PROFITABLE QUARTERLY REPORTS HAVE BEEN RELEASED TO THE MARKET.
What is the real impact on the SP, company, ISX shareholders of not being able to trade the profitable and positive value of 2 quarterly report outcomes which equals 6 months of profitable outcomes – the 1^st being 30 Sept 2019 ISX quarterly report (released in October) – ISX was suspended 2 October. Results would have been trading during Oct/Nov 2019.

The 31 December 2019 ISX quarterly report also had positive and profitable results – ISX shares were still suspended by the ASX. ISX shareholders have lost the positive impacts of those reports being released to the market and witnessing the impact of profitable results on ISX share trading. Now 6 months of profitable reporting data for ISX and trading suspended by ASX 2 Oct 2019.

Trading data for ISX available from ASX's website:
This is the majority [non Chi-X] history of share trading data for ISX – source ASX’s publicly and freely available information from ASX’s website – the history since (i) ISX’s recent entry into the ASX 300 then (2) release of OM’s report which was not sent to ISX by OM (3) trading data available from ASX for ISX from 19 to 25/9 to date until suspension by ASX 2 Oct.
2^nd part of the table is in reverse date order – shows highs/lows