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SP1 - Southern Cross Payment

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jonp

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*BUMP*

Well is being spud tomorrow morning US time with drilling to take 50-60 days, SP hit 2c today. Anyone else hold these?

FUT now known as OTE - otis energy, however there's already an OTE on these forums. Maybe a forum guru could change it?
 
On February 25th, 2015, Otis Energy Limited (OTE) changed its name and ASX code to iSignthis Ltd (ISX).
 
ISX.JPG
 
Yes, some strange price action with ISX over the last four trading days. Volume is above average with a huge spike on 12 July. The company received a price and volume query from the ASX the same day and replied on the 13th, stating that they were not aware of any information which has not been announced to
the market which would explain the increase in the price and trading volumes.

The above average volume has continued today with around 2.5 million shares traded so far. The share price is up another 7.5% to 21.5c.
 
ISX going for a nice little run in the last week. Today it closed at 21c, up 13.51% from yesterday's close.

Some good news today regarding Australian merchant onboarding with the company announcing that it has received 12 applications, mainly in Merchant Category Codes (MCC) 6211 (Equities/CFD/FX), with some MCC 7995 (Gambling).

big.chart-ISX.gif
 
This performance of iSignthis Ltd in the last six months has been a complete surprise, rising from under 25c to a high of $1.195 today.

The financial results for the half year ended 30 June 2019 were released today and reveal an apparently well managed company experiencing rapid growth.

According to the recent Managing Director's Address to Shareholders, this is what the company does:
We provide services to cross border, regulated and high value businesses, which includes a complete customer onboarding solution, remote identity verification, credit scoring to payment processing, settlement, spot FX and deposit taking eMoney services.
Click to expand...

Monthly Gross Processing Turnover Volume (GPTV) has risen from $100,000,000 to more than $800,000,000 since February 2019 and this growth looks set to continue in line with new merchant onboarding and rising processing volumes.

screenshot-stocknessmonster.com-2019.08.28-12_25_38.png


Wish I'd seen the potential of ISX early this year. It's turned into a great business with plenty of growth to come if the past six months is anything to go by.
 
Quick catchup:
The boss of this became the NSX boss today after ISX threw cash at NSX recently.
(National Stock Exchange)
ISX is suspended on asx and taking asx to court for that (5 months now).
Court case is ongoing and seeking a suspension lift and cash.
ASIC is currently investigating ISX and nobody is discussing that cos secret.
ISX want to offer same day settlement on NSX in competition with asx.
ISX want to offer multi-currency same day trades on NSX.
They are currently waiting a decision for an aussie bank licence (full ADI)
(they have EU bank licences and stuff already)
The "family" own >50% of soi. That only became apparent very recently when some directors ownership numbers had a maths fail, so got queried.

Go hard or go home is an apt description here imo.
 
in the press 09 March
entering iSignthis' sixth month of suspension from the ASX boards, the shadowy fintech's only institutional shareholder has framed the latest instalment in its excruciating sorta mea culpa.

LHC Capital wrote to its own investors on Thursday revealing a write-down in the holding value of its 89.45 million iSignthis shares to just 7.7¢ each (they last traded at $1.07).
Click to expand...
and that's wishful thinkin'
 
and mentioned in dispatches with NSX going with the Distributed Ledger:

Difference between ASX and NSX?

I just discovered that there is an alternative stock exchange to the ASX called the NSX. This is like...drinking regular coke for years and then discovering vanilla coke :eek: So I did a bit of research to find out what the difference was between the ASX and NSX, and found this (the actual...
www.aussiestockforums.com www.aussiestockforums.com
do find it a bit of a mind warp that iSignthis (part owner of NSX) is dead against listing on the NSX. ISX say they want to list on a "premium exchange "
Click to expand...

NSX - NSX Limited

a bit of chat on other threads .... deserves its own TLA? https://www.aussiestockforums.com/threads/difference-between-asx-and-nsx.24048/ Trade Acceptance Service (TAS) : NSXA Go-Live date of 23rd November 2020 NSX Limited (ASX: NSX), NSX Limited wishes to advise that the Company has been...
www.aussiestockforums.com www.aussiestockforums.com

The platform incorporates the NASDAQ trade matching engine, in addition to the DESS, and in future, the ClearPay Delivery versus Payments platform and the Paydentity™ KYC platform from iSignthis .
Click to expand...
 
More trouble for ISX today after ASIC announced that it has commenced civil penalty proceedings in the Federal Court against iSignthis Ltd and its managing director and CEO Nickolas John Karantzis.

Some serious allegations of non-disclosure and misleading representations being made.

20-312MR ASIC commences proceedings against iSignthis and its managing director Nickolas John Karantzis | ASIC

asic.gov.au asic.gov.au

ASIC is seeking declarations and pecuniary penalties against iSignthis and Mr Karantzis. ASIC is also seeking orders that Mr Karantzis be disqualified from managing corporations.

Ouch! Things going from bad to worse for ISX. Given the current circumstances, I think it's unlikely that the company will ever be re-instated to official quotation. At the very least, not anytime soon. A very ugly situation.
 
frugal.rock said:
Does anyone have any idea when ISX will be trading again?
Click to expand...
The company say they will put a prospectus together starting January (so as to include completed financials) and be trading on another exchange by the end of April 2021. The names of any potential exchanges has not been provided.
 
HelloU said:
The company say they will put a prospectus together starting January (so as to include completed financials) and be trading on another exchange by the end of April 2021. The names of any potential exchanges has not been provided.
Click to expand...

A quick update
It's been nearly a year since the last posts but ASIC next hearing is on 19th November 2021.

Not long now.

Skate.
 
2022 for everything court related (maybe 2023 the way things are going for iSignthis).

ISX are taking ASX to court for about $500M in damages. iSignthis has recently demerged and sent approx 90% of its value offshore into a Cyprus based entity (that already existed). That leaves a still suspended ISX listed on the ASX.

ASIC is taking ISX to court and looking for penalties.

ATO is involved in a court case with J. Karantzis and is seeking approx $10 in tax payments. J Karantzis has been stopped by the court from leaving Australia due to this tax matter.
 
strange how ISX complies with various EU/ECB regulations , but ruffles feathers in Australia

BTW there could be a chance ISX shifts to the NSX either as a standalone listing OR in a JV with a subsidiary of the NSX

i bought in as OTE ( at 1.4c a 'new share' or 0.14c pre-consolidation ) and jumped @ $1 just before things went pear shaped , thinking ISX was looking too much like a 'neo-bank' for my taste

i had an awesome run on this , left for the wrong reason ( guess ) but timed the mistake nicely , and stuff like THAT is why i claim luck is a skill as well ( you just have to admit it was luck and not fantastic talent )

it will be interesting to see how this plays out , PS keep an eye out to see what happens to the ISX IP ( that could be the real gem )
 
On May 25th, 2022, Isignthis Ltd (ISX) changed its name and ASX code to Southern Cross Payment Ltd (SP1).
 
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