BPG 0.00% 0.9¢ byte power group limited

https://www.bytepowerx.comI spent some time trawling through old...

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  1. 532 Posts.
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    https://www.bytepowerx.com

    I spent some time trawling through old announcements/ here's a refresher of events.....

    27/12/17 - Suspension from Official Quotation
    https://hotcopper.com.au/data/attachments/1444/1444394-4f6c4ac5dbe80b94ae587dc4167aecbf.jpg



    <<<<< ASX QUERY 1 >>>>>
    03/01/18 - Soarcoins suspended /COMPANY X Letter posted

    10/01/18 - BPG respond to ASX Aware letter (about SoarLabs and that "COMPANY X" message, sequence of events over that New Year period).
    <<<<< That Query Closed? >>>>>
     


    <<<<< ASX QUERY 2 >>>>>
    10/01/18 - BPG announce agreement with Noetic

    18/01/18 - ASX Query BPG on Noetic Agreement / speed of agreement / Noetic website etc
    08/02/18 - BPG Respond
    19/02/18 - The above is announced to market

    19/02/18 - BPG announce "Letter to SH", that ASX are not satisfied with BPG's response and the matter has been referred to ASIC
    <<<<< The above is (partiality) what ASIC infringement is for (see below) >>>>>


     
    <<<<< ASX QUERY 3 >>>>>
    01/08/18 - ASX Query BPG  about the legal status of their BPX tokens and if they need an AFS License etc.
    05/09/18 - BPG Respond 
    <<<<< I assume this is ongoing >>>>>


    13/12/18 - ASIC Infringement Notice, advising BPG need to pay $33k for not disclosing information between 14/12/17 (Soarlabs failings) and 10/01/18 (Noetic Agreement)... I.e. QUERY 2 above, and partially QUERY 1, but I assumed ASX were satisfied with BPG's response there.


    So anyone (like me) who is curious what ASX and ASIC are still investigating,  it's pretty much the BPG + Noetic contact and the winding down of SoarLabs out of the picture; When BPG (Actually BPPL) signed the agreement with Noetic, SoarLabs were at the time 49% owners of BPPL.  BPG claimed they didn't need SoarLabs to agree to this Noetic deal...

    The remaining beef that ASX + ASIC have with BPG which they are asking about is all there in that announcement of 19/02/18:

    2A1065409_BPG.pdf


    Yeah, reading this over again,  BPG have a really long way to go yet IMO.  It took ASIC 10 months just to determine BPG hadn't met their continuous disclosure obligations for a month period.... now they still got to vet all the contractual paperwork, make sure there are no porkies etc...

    Relisting in early 2020 IMO, having reread all this over again.


 
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