The rubbish that gets floated on the ASX these days and it is...

The rubbish that gets floated on the ASX these days and it is all legal!!
Makes you wonder what is going on in Australia that the public keeps being sold pup after pup!

Any forensic accountants had a look at past years balance sheets and earnings? .. Any of the usual 'legal' shenanigans with big write downs on stock values a few years prior to listing? That's normally the basis for getting a subsequent good income year for the prospectus these days, isnt it?

So much financial engineering going on these days and ASIC never bats an eyelid. CMC another.