Maybe some have digested the AXIS loan. Others still suffer from indigestion.
As has been pointed out before, ASX required MED to do two things before suspension is lifted.
1.Appoint two independent directors to the board.
2.The augmented board to reconsider the questions that ASX originally asked.
It is as simple as that to get suspension lifted. So either MED has not done what is required or the ASX is not satisfied with the outcome. Either way, it is unacceptable that there are no announcements by the ASX. That is something on which we all seem to agree.
I don't agree with you that this is a regulatory storm in a teacup. It is a disgrace that, as you suggest, funding should remain through convertible notes and intercompany loans. Funding should be available by AXIS giving back the loan of $15 million of shareholder funds that MED lent to AXIS. That would be easy enough administratively. MED and AXIS share the same office.
If ASIC is indeed investigating the matter, as you think may be the case, then that could be a bad sign for shareholders. The last thing to wish for is delisting of MED. While there is rectifiable suspension there is still hope.
MED Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
