same as many other junior duds .many worse then med in junior land.. is dulux next??
iSignthis says it's compliant, ducks questions
Jonathan Shapiro and Vesna Poljak
Sep 25, 2019 — 12.00am
Payments unicorn iSignthis assured the market it "adheres [to] or exceeds" its regulatory requirements, but a series of transactions that triggered alerts at Danish bank KAB last year remain unexplained.
Shares in iSignthis fell 10 per cent to 94¢ on Tuesday after a joint investigation by The Australian Financial Review and Danish business publication Børsen revealed that KAB received 26 alerts relating to foreign transfers in and out of the account of iSignthis eMoney.
The alerts related to unusually large foreign transfers and were triggered between June 14 and July 23, 2018; 10 of 14 alerts in June related to payments into the iSignthis subsidiary account and 10 of 11 alerts in July related to payments out of the account.
The alerts coincided with the end of the 2018 financial year in which escalating revenue milestones had to be met in order for all of 336 million shares to be issued to vendor iSignthis BVI, whose operations became the basis of the listed iSignthis as part of a "backdoor listing" in 2014.
KAB, or Københavns Andelskasse, was a small co-operative with no branches and €41 million ($66 million) in deposits that has been reported as the largest money laundering scandal on Danish soil. On Friday, Denmark's State Attorney for Special Economic and International Crime launched a formal investigation into the lender for breaching anti-money laundering laws.
It was deemed by the Danish Financial Supervisory Authority to lack effective measures to prevent money laundering.
Updated: Sep 24, 2019 — 4.10pm. Data is 20 mins delayed.
View ISX related articles
In response to questions on Monday seeking an explanation of the flagged transactions and why iSignthis elected to bank with KAB, iSignthis boss John Karantzis said he was prevented from commenting on the alerts. He added, however, that the media inquiries acknowledged that the company "had high turnover and volumes."
This observation was also noted by Patersons Securities research analyst Martyn Jacobs, who told clients in a note that reports were "supporting evidence of high transaction volumes and values, suggesting support for the revenues claimed by ISX during that period."
Mr Jacobs maintained his $2.07 share price target.
iSignthis, which provides identification and payment services to gambling and online trading platforms, told the exchange that it operates an extensive anti-money laundering platform and that it is "working with regulators to make sure it adheres [to] or exceeds regulatory requirements during this growth phase".
It volunteered that it reports key statistics on a monthly basis and raises suspicious activity reports with regulators when they occur.
In Tuesday's market update, iSignthis also said it had restated the accounting treatment of funds held on behalf of two clients whose own funds had been frozen by the Australian Securities and Investments Commission.
The clients in question are OT Capital and Trader Q, according to a report in The Sydney Morning Herald, which said ASIC was heading to court to appoint liquidators to the two firms.
Working with ASIC
ASIC obtained interim injunctions against the brokers in February 2018 and said in a statement at the time that their conduct was "misleading or deceptive and/or unconscionable."
iSignthis clarified that the merchants were no "longer active customers".
Late on Tuesday, a statement issued by ASIC said its inquiries had led iSignthis to decrease funds held on "behalf of merchants classified as current assets and current liabilities by $6.3 million to $2.3 million as at 30 June 2018."
The regulator stated that "off balance sheet accounting remains a focus area for financial reporting at 30 June 2019."
iSignthis had disclosed in its accounts that it moved $4.7 million off its balance sheet, after the freezing of funds meant they no longer qualified as assets.
iSignthis also clarified that the ASIC court action and freezing of funds had no impact on the company's profits and its net assets. It held $34 million of client funds on balance sheet at June 30, 2019.
Shares in iSignthis have surged by more than 10 times this year as its market capitalisation exceeded $1 billion. The stock was added to the S&P/ASX 300 Index on Monday.
Many worse than MED? A company forced into liquidation by ASIC because $13m in SH funds was given to entities related to the board.
Time for you to shut the fuck up little man. You are a proven fuckwit.
and where has the $100 mil from avq gone over last 10 years?? joe is just a headline much much much worse to chase imo
Rabbi; A person who is trained to make decisions about what is lawful in Judaism, to perform Jewish ceremonies, or to lead a Jewish congregation.
Would be interesting to know what his congregation thinks of him...
If i was God, he wouldn't be welcome in my house..
same as AVQ wont relist
Stop deflecting fool. Face up to the fact that you have lied about this stock in here for years to suck newbies in.
Close your TS account.
Announcement to ASX 26 September 2019
Drilling Approval for Borba Natural Gas Well
Sacgasco as Operator of the Borba Area of Mutual Interest (Borba AMI) has received approval
from Glenn County for Borba 1-7 well on the Anzus Project
The Anzus Prospect well renamed Borba 1-7 after the land and minerals owners, the Borba
family, is expected to be drilled this year
Sacgasco Limited (ASX: SGC) (“Sacgasco” or “the Company”) is pleased to announce that it has
received approval from the Glenn County Planning and Community Development Services Agency for
the drilling of the Borba 1-7 well.
The Anzus/Borba prospect is located between the Dempsey 1-15 well in the Rancho Capay Gas Field
and the 650 Bcf cumulative California Resources Corporation (CRC) operated Willows Gas Field. Borba
1-7 well is located adjacent to Sacgasco owned and operated natural gas pipeline infrastructure which
connects to the massive, locally under-supplied California Natural Gas Market. Premium prices prevail
for clean natural gas in California.
Figure 1: Borba Location in 13 Tcf (produced) Gas Basin
2 | P a g e
The vertically stacked conformance of 16 seismic anomalies, which are interpreted to represent gas
filled reservoirs, is significantly greater than at the Dempsey 1-15 well, drilled previously by Sacgasco,
which proved over 5,000 feet of gas saturated sediments.
The well is located within a 3D seismic data volume. In addition to the vertically stacked older
reservoir potential, an undrilled amplitude anomaly interpreted to indicate gas filled sands will be
intersected by the Borba 1-7 well in the shallower offset Gas Field Forbes reservoir interval. The
interpreted gas traps at the Borba well location range from structural to stratigraphic in nature.
Success at this location will upgrade follow-up prospectivity in the local area in the northern
Notably, in granting the drilling permit Glenn County staff provided the following commentary in the
attached approval document:
Approval from the California Department of Geological and Geothermal Resources (DOGGR) is the
next and final step in the approval process.
Figure 2: Easily accessible Borba 1-7 Location
3 | P a g e
Sacgasco’s Managing Director Gary Jeffery commented:
For and on behalf of the Board of Sacgasco Limited.
Gary Jeffery Ben Jarvis
Managing Director Six Degrees Investor Relations
+61 8 9388 2654 +61 (0) 413 150 448
About Sacgasco Limited (ASX: SGC)
Sacgasco Limited (ASX: SGC) is an Australian-based energy company focused on conventional gas exploration and
production in the Sacramento Basin, onshore California. Sacgasco has an extensive portfolio of natural gas producing wells
and prospects at both exploration and appraisal stages, including multi-Tcf opportunities. The Company is targeting gas
supply to the local Californian gas market and burgeoning LNG market in North America. Sacgasco is of the view that the
size of the prospects in California have the potential to supply both domestic Californian natural gas and export LNG
This document contains forward looking statements that are subject to risk factors associated with the oil and gas
industry. It is believed that the expectations reflected in these statements are reasonable, but they and or their timing
may be affected by many variables which could cause actual results or trends to differ materially. The technical
information provided has been reviewed by Mr Gary Jeffery, Managing Director of Sacgasco Limited. He is a qualified
geophysicist with over 46 years technical, commercial and management experience in exploration for, appraisal and
development, and transportation of oil and gas. Mr Jeffery consents to the inclusion of the information in the form and
context in which it appears.
“The Borba prospect is a big opportunity for Sacgasco and the next logical step in the evaluation of the
highly prospective, under-explored older strata in the Northern Sacramento Basin. After calibrating the
seismic with the Dempsey well, Sacgasco’s and independent technical teams have homed in on the
Borba area as being the very best place to test the higher quality conventional reservoir development
identified in the revised sedimentary model.
It is very encouraging to see the unsolicited, supportive attitude of the local administrative body in
granting this approval. We look forward to working with local authorities in monetizing a discovery at
We are currently finalizing the working interest participants in this exciting, high potential Borba well
and we expect to be drilling Borba this year.”
You’ve lost the lot here you brainless flog. Too funny. Enjoying the dog food diet are you?????
same avq .ogx aul dog food enjoy
Like yours CAE, ZYB, MED etc
you forgot DUB 40 at feb?? now eating eye fillet sgc $$$$$$$$$$$$$$$$$$$$$$
Zimbabwe furious over US diamond ban
Friday 4 October 2019 - 3:28pm
File: Zimbabwe on Friday slammed a US decision to ban its exports of uncut diamonds, saying claims of the gems being extracted by forced labour at a major mining area had a "political agenda".
HARARE - Zimbabwe on Friday slammed a US decision to ban its exports of uncut diamonds, saying claims of the gems being extracted by forced labour at a major mining area had a "political agenda".
"We have never had anyone, let alone children, forced to work in Marange diamond fields," Justice Minister Ziyambi Ziyambi told AFP.
"Zimbabwe has one of the best labour laws, which don't allow the practise of forcing people to work against their will.
"We believe there is a political agenda hidden behind the ban," he said.
On Tuesday, US Customs and Border Protection (CBP) announced it had issued a so-called withhold release order barring the trading of rough diamonds from Zimbabwe.
At issue are the diamond fields in Marange, in eastern Zimbabwe, which have been a prolific source of diamonds since 2006.
Washington says the small-scale producers who predominate in these fields use coerced labour.
READ: Botswana unveils rare 20-carat blue diamond
Zimbabwean government spokesman Nick Mangwana said the accusation was either "mischievous or simply ignorant."
Tensions between the two countries have been strained since 2003 when the US first imposed sanctions on politicians and state companies.
The southern African nation suffering its worst economic crisis since 2008, has been desperate to see economic sanctions against it lifted, and views the clamp as a further hindrance of investment into the country.
"We see the ban as just another excuse to keep the sanctions," Ziyambi protested.
President Emmerson Mnangagwa has promised to revive Zimbabwe's sickly economy.
But many people say they are worse off now under his government than under Robert Mugabe, whom he replaced in 2017.
Other categories of goods from China, Malaysia, Democratic Republic of Congo (DRC) and Brazil were similarly barred by the US on suspicion of being made with forced labour.
In 2018, the investigative NGO Global Witness said the diamond industry in Zimbabwe suffered a "lack of transparency and oversight."
Among those who held ownership stakes in diamond mining were Zimbabwe's army and its Central Intelligence Organisation, it charged.
Sandud writes “ med could be the Easter bunny ,,better chance in med then avq scam imo “
Your a deadset twat Sandud