Ann: Issue of Convertible Notes, page-15

Hey @carnabombers ,

You seem more knowledgeable in this than myself, good onya for sharing info.

Just I'm of the understanding the original suspension imposed by ASX was due to one or two reasons...

1. Significant change in business activities [without SH approval]... essentially changing from a power and distribution company to Crypto currency.

2. Backdoor listing (which may be void now), essentially the then Soarlabs gaining ASX listing status through part ownership of BPG (BPPL).

I was under the belief that if BPG could address the above two issues (but now even more clouded by the Soarlabs debacle), they could essentially remove the suspension... notwithstanding the fact we'd want it timed with the crypto exchange go live for impact.

So, my question is, does a listed company need to have a certain level of profit/turnover to maintain ASX listed status? If so, does it matter the source of their funds?

(I understand they have to be solvent).

Cheers for your info!
MSN