You put together a story. You then work on peoples honesty. Grab a bucket load of cash. Pay yourself and consultancy mates handsomely. Work the system to comply. If it fails. Repeat.
At some point the ASX has to have a department that is active in pursuing the business models presented and holding those individuals accountable for the implementation.
If they are not complying suspend the company indefinitely until such time as they can present a business model with facts, timelines and measurable results that can be monitored.
It is almost getting to the stage where you need a Royal Commission into the ASX and its ability to put in place a structure to monitor some of these hoods.
Micro caps are becoming a comic book laughing stock.
FAM Price at posting:
0.1¢ Sentiment: None Disclosure: Held
