Well …... 1. I don't think the audit is too far progressed at all. The number and type of shares issued according to ASIC is completely different to the number and type of shares that the Company claimed should be issued (according to the March 2018 Explanatory Memorandum issued for the EGM). One of the first things auditors do is check the ASIC records tally with the company records. Also obviously if you had hopes of going into a listed environment you'd at least try to make an effort to show ASX you have half a clue on compliance. 2. Nicholas Ong, who we were all happy had been appointed last year as Co Sec has quietly resigned. 3. The paid up capital is $10.54million. ASIC think there are 341million shares. Sterling thinks about 287million shares - so around 3 cents each whichever number you choose. So if you paid more than 3 cents a share, you have subsidised someone getting (probably a lot of) shares for less (Noting that "free" is less than 3 cents). Anyone here pay 3 cents or less per share? 4. Was there talk of $3.3m profit? So that's actually only 1 cent per share or thereabouts. I think listing on a P/E of 20 is optimistic. P/E of 10 maybe. Anyone here pay 10 cents or less for their shares? If so you might be in the money. Just 5. No income & expenditure statement or balance sheet to look at of course, so the above are really just stabs in the dark. 6. Jasper is not a common name. So I'd say Simon Jasper Bell is the same Simon Jasper Bell that was tied up with Westpoint.
Is there anyone on here that lives in Perth? Can just go and knock on their door and ask for a meeting with whoever is in charge these days.
