This is a PUBLIC WARNING to ASX over the fraudulent conduct of ASX:INP IncentiaPay which is currently planning on selling the Bartercard operations back to the original vendors for a small fraction of its real value on the pretense that the sale was conducted through a legitimate auction.
This is false.
The statement from ASX Senior Advisor (Compliance Listing) Lisa Banh that Bartercard was sold legitimately is factually incorrect and is designed to cover-up the fraudulent sale by a CEO (Iain Dunstan) acting directly against the shareholders’ best interests.
This is a time-sensitive matter with the sale to be consummated within days.
IMHO Lisa Banh needs to investigate the sale and immediately suspend the share trading of ASX:INP in the interim while a short sharp investigation is conducted.
I have previously blogged the key questions which remain unanswered – where and when was the sale notified? Who did the valuation? Why has the Board permitted a sale at less than book value and to an entity in which conflicts of interest are obvious? How can an auction result in a negotiated deal? Why were willing cash buyers with willingness to pay much higher amounts not given opportunity to buy the Bartercard business?
For people who are interested in this asset, justice or preventing the Smiles in Suits from outworking their devious plan to rob the public, their time is now. Shareholders in ASX:INP – you are being fleeced. It is possible that some of you are in on the game, especially noted if you ignore warnings of losses!
Rest assured that when the sale goes through all evidence will strangely disappear, including those who aided and abetted this criminal act.
This is a warning to ASX and the people associated with any complaint into ASX:INP that they have been deceived over this sale and my advice is to proceed with great care.
Bartercard in 2017/2018
- Something’s up with Bartercard!
- Bartercard – Analysing the Rot
- Bartercard Update – Bye Bye Trev
- MEDIA RELEASE: Bartercard Insider Trading
- Bartercard Boardroom Battle
- Bartercard 2018 Q1 - We Lied!
- Fighting Bartercard in Court
- Bartercard vs Down – CIV 2014-096-428
- Bartercard vs Down – Trial Analysis
- Bartercard vs Down – Trial Report
- Bartercard’s Demise: Updates
- Seasoned Investor: Sells ASX:BPS
- Fair Market Value of Trade Dollars
- How to Fight Bartercard (& win)
- Analysing the Bartercard Sale
- Bartercard Sale Questions & Feedback
- PUBLIC WARNING: Fraud Within ASX:INP
- History of ASX:INP’S Bartercard Sale
- Open Letter to ASX:INP Shareholders
- MEDIA RELEASE: Blogger Calls Fraud on ASX:INP
- ASX:INP Management Fraud Identified
- PUBLIC WARNING TO ASX OVER ASX:INP