Major concerns- Reviving a float that never was20 Feb 2020 17:30
https://www.afr.com/policy/health-and-education/reviving-a-float-that-never-was-20061130-jkif5
again this is a major concern re Parry's old man stringing along investors for years
"Investors who handed over money to Parry in November 2002 were promised that it would list six months later, in May 2003. By April 2003, Parry was saying publicly Astop was heading for a listing in September of that year.
In June 2004, Parry's son Cameron wrote to those who lent money to Surepoint Securities to advise them of a 12-month delay in listing because of a fire at the Perth factory that manufactured the treatment.
"During this delay, your loan agreement continues to accrue interest - to be paid out with the principal amount at the time [Astop] Ltd lists," he wrote.
In September 2004, Kevin Parry was saying the product would be back on the shelves before Christmas - but he was out by almost two years. And by mid-2005 the listing date being spoken about had been pushed back to December of that year.
In August 2005, Kevin Parry said in a letter to potential investors that a float was planned for November of that year. Around that time, he was saying the Astop product would be back on the market within six to eight weeks at the most - again he was wrong by about 12 months.
Now, Parry says Astop plans to list in May next year, but only if the company is cash flow positive by then."
So if I am reading the article rightly, stringing along investors for 5 years!!!
haha hoping that some of you die off by then.
As the saying goes: apple never falls far from the tree!
Please prove us wrong Cameron
Sign In
Follow the stocks
