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jamhouselive Yes, nobody pays to see a demo! I can't see...

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    jamhouselive

    Yes, nobody pays to see a demo!

    I can't see Priority One listing in their current state. If you are interested, then have a look at the ASX's admission criteria.

    http://www.asx.com.au/listings/listing-capital-raising/listing-requirements.htm

    Compare these criteria with Priority One's accounts for 2014, which will be the subject of today's AGM.

    1a. ASX requires a few hundred investors that have put in money to buy shares at $2.00.
    1b. Priority One has not issued any paid for share capital for cash, since the original $8 foundation shares at the Company's formation. [From the point of view of GCN holders of Priority One shares, I don't know whether GCN is a foundation shareholder. GCN derived shareholders put in no money for their free issue.]

    2a. ASX would require Priority One to have made a profit of $1 million over the past 3 years.
    2b. In 2014 Priority One made a loss of $733,062, in 2013 a loss of $1,410,848, and in 2012 a loss of $1,605,000.

    3a. ASX would require Priority One to have $3 million in net tangible assets.
    3b. Priority One's total current assets are worth $16,767.

    I don't know whether an unqualified auditor's report is required by ASX, but the auditors in 2013 and 2014 made the unpromising statement that they were not able to get sufficient appropriate audit evidence to express an opinion on the financial reports.

    So why is Priority One making moves to raise cash from demos and to get listed - moves that IMO will come to nothing? It can't be so of course, but it is almost as though disappointed and aggrieved parties are twisting the arms of directors behind their backs - unrealistically forcing Priority One to apply for listing.

    One final question, which you perhaps may choose not to answer. What was it that motivated companies like your own to accept shares in such an unproductive company as Priority One? Promises of rivers of gold?
 
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