A key point is: "Finally, both SIS and Mr Li have agreed to not reapply for an AFS licence nor provide financial services in any capacity for a period of 10 years from the date of the EU."
"Financial services in any capacity . . ." seems clear enough to me.
2.
Yet only two months later Richard Li issues a Letter to Professional Investors in which he introduces them, over his signature, to a unique opportunity to become a part of the Go Green Holdings family of shareholders.
Richard Li advises them that: "By 2016, Go Green Holdings Ltd is expected to deliver substantial profits and asset value to its shareholders. Facilitated by ASX listed GoConnect Ltd, Go Green Holdings Ltd will be seeking listing on the ASX."
To make it easy for the buyer to transfer the share purchase money to GCN's bank account, a form is attached at the end of the 'prospectus'.
BTW, at the risk of sounding bigheaded, I consider myself too sophisticated to apply by transferring cash to GCN's bank account. I guess I am not the only one on this forum that thinks this way.
Seriously though, is Richard Li not facilitating the buying of financial securities? Is this not therefore the provision of financial services?
3.
Finally, on page 5 of GCN's quarterly of 21 April we read that GCN has a $1.6 million loan facility from Sino Investment Services (SIS), of which one can calculate $713,947 still remains available.
Is not GCN therefore claiming to be getting financial services from SIS, which has undertaken to ASIC not to provide financial services?
As I say, maybe I am misunderstanding things.
Does anybody know how to get an answer from ASIC? When I contacted them once before, on another matter, their reply was along the lines that they could neither confirm nor deny that they would investigate my complaint, and if they did then they would not be able to tell me the outcome.
GCN Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held
