The ASX has recently raised the bar with RTO(Reverse Takeovers)...

The ASX has recently raised the bar with RTO(Reverse Takeovers) so this sort of listing vehicle onto the ASX is harder to do. You need higher money in the bank of the RTO target company, certain shareholders and a certain level of business activity and revenue in whatever business is being vended into the RTO shell.

It is done as its often quicker to do as a backdoor approach rather than a full front door IPO approach, and cheaper. There are legal firms out there who buy into dying or liquidation mining penny dreadfuls, clean them up legally from their past, and offer them to entrepreneurs who want to list via a cleanup up company shell.

KIK looks like a potential RTO target as its suspended, trades at penny dreadful 0.8c and has a smallish total current shares on release. What happens is the two companies do a deal, there is a Notice of Meeting to shareholders, they vote on the takeover, do a prospectus and IM to the public, brokers etc and raise capital of normally a million or much more, and satisfy ASIC and ASX rules, get a new company 3 digit code, and relist and trade and are quoted on the ASX.

It sounds easy but there are numerous hurdles and assessments and due diligence tasks that can derail the whole thing if its not a straight clean deal. Having said that I know of some tech stocks that listed this way that in hindsight I believe should have been red flagged and prevented from listing. Its because of some ASX failures that the whole system has been tightened up and its alot harder to do now than in 2014 and even 2015.