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Author Topic: [2015-11-02] Sydney Morning Herald: Bitcoin blunders its way to an ASX listing  (Read 204 times)
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November 02, 2015, 12:45:15 PM

Bitcoin blunders its way to an ASX listing

ASX hopeful Bitcoin Group has delayed its listing after running into trouble with the corporate watchdog over claims Prime Minister Malcolm Turnbull is a shareholder and "misstatements" about the company's profitability.

Bitcoin, which counts former St Kilda president and former NewSat director Andrew Plympton as its chairman, has also admitted statements in the press in September about its revenue that had "no reasonable basis".

The company's four-page supplementary prospectus also outlines how the company plans to deal with the money it raised from investors through an entity established in the Cayman Islands through Bnk to the Future Limited in a crowd-funding program. Bitcoin also gives notice that it has a related-party investor in the IPO – the father of the company's chief executive Sam Lee.

Mr Lee said the company had hired talented lawyers to help it steer through the IPO process.
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