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03 December 2024
Name: | REVASUM INC. (RVS) |
ISIN: | AU0000030959 |
Date of Listing: | 04 December 2018 |
Date of Delisting: | 29 August 2024 |
Stock Exchange Status:
This entity was delisted from the Australian Securities Exchange on 29 August 2024.Legal Status:
ACN: 629 268 533
Registration Date: 19 October 2018
Capital Gains Tax (CGT) Status:
The securities in this entity, in our opinion, are of little or no value. We have made that assessment by reference to the circumstances leading to a suspension and/or delisting, the length of a suspension, share trading history and last on-market share price, most recent financial and cash flow statements, prospects (including likelihood of re-financing), and other factors including in particular whether the entity is in external administration. If you are seeking to crystallise a capital loss on your securities, that process can be easily and quickly initiated at our online Worthless Shares facility here: https://www.delisted.com.au/sell-worthless-and-other-securities/.
Updates, corrections, disagreements please email to admin@delisted.com.au
Further information: deListed and InvestoGain are operated by Investogain Pty Limited which is licensed by ASIC as an Australian Financial Services Licensee (AFSL 334036). deListed acquires only securities that it deems to be of little or no value, in circumstances where the holder is unable to sell their securities on-market in the normal manner. This service has been provided online via the company’s website www.delisted.com.au since 2004.
Getting advice: Information provided in this section is of a general nature and applicable only to Australian tax residents who hold their investments on capital account (ie for long-term investment purposes). It has been prepared without taking into account your financial needs or tax situation. Before acting on the information, deListed suggests that you consider whether it is appropriate for your circumstances and recommends that you seek independent legal, financial, or taxation advice.
Disclaimer: The information provided above is to the best of our knowledge accurate as of today. But you should bear in mind that it is of a general nature and does not constitute financial or tax advice. Investogain Pty Limited accepts no liability for any loss arising from reliance on this information, including reliance on information that is no longer current.
REGISTRY:
Link Market Services Limited Sydney
Level 12, 680 George Street
Sydney NSW 2000
Tel : 61 1300 554 474
Fax : 02 9287 0303
RegistryWebsite RegistryEmail
Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person. | 30/08/2024 |
delisted for non-payment of annual listing fee under Listing Rule 17.15 | 29/08/2024 |
we understand the company failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2025 | 29/08/2024 |
Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Wednesday, 21 August 2024 would have its securities suspended from Official Quotation before the commencement of trading on Thursday, 22 August 2024. The Company has failed to pay to ASX the annual listing fees for the year ending 30 June 2025, and each entity's securities are already suspended from quotation. | 22/08/2024 |
The securities of the company have been suspended for more than three months. If an entity does not meet the 1 or 2 year deadlines, it will be removed from the official list. The removal will usually take effect from the open of trading on the first trading day after the deadline date. | 10/07/2024 |
ASX will continue to suspend trading of the Company's CDIs until such time as it lodges its annual financial report. The Company has been unable to lodge its annual financial report and Appendix 4E for 2023 while it works through the process of identifying strategic and financing options to secure its future. As mentioned in its last press release, the Company is exploring strategic options to maximize stockholder value and has received multiple indications of interest from potential partners. The process is ongoing, but it is difficult to anticipate the potential duration of the process. The Company is hopeful that the process can be concluded in a timely fashion and that it can resume lodgement of its periodic reports shortly thereafter. | 19/03/2024 |
ASX has agreed to extend the voluntary suspension of the Company's CDIs for up to a further two weeks while the Company continues to pursue Its strategic process. The Company's investment bank, B Riley Financial, has received multiple indications of interest with respect to a potential acquisition of the Company. At least one party has indicated it would need another week or two before it can complete its due diligence with a goal of presenting an indicative offer to the Company. The Company has therefore agreed to give additional time to that party. The Company has continued the streamlining of its cost structure including the previously announced furlough of its employees. The Company has also continued to experience delay in receiving payments from customers and is currently working on securing additional financing as well as renegotiating default forbearance terms with its creditors. The securing of such additional financing and the renegotiation with its creditors are critical to the Company's success and the Company believes that continued trading in its securities is likely to be materially prejudicial to its ability to complete such a transaction that is critical to is continued financial viability. The Company also advises that it has entered into certain management incentive and retention arrangements with the Chief Executive Officer and Chief Financial Officer of the Company whereby those executives might receive incentive compensation in the event of a successful sale transaction. | 04/03/2024 |
The securities of Revasum Inc. will be suspended from quotation immediately under Listing Rule 17.2, at the request of RVS, pending the release of an announcement regarding its funding, an update to its strategic process and/or other material updates. | 05/02/2024 |
listed entity carried for record purposes only | 04/12/2018 |
Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person. | 30/08/2024 |
delisted for non-payment of annual listing fee under Listing Rule 17.15 | 29/08/2024 |
we understand the company failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2025 | 29/08/2024 |
Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Wednesday, 21 August 2024 would have its securities suspended from Official Quotation before the commencement of trading on Thursday, 22 August 2024. The Company has failed to pay to ASX the annual listing fees for the year ending 30 June 2025, and each entity's securities are already suspended from quotation. | 22/08/2024 |
The securities of the company have been suspended for more than three months. If an entity does not meet the 1 or 2 year deadlines, it will be removed from the official list. The removal will usually take effect from the open of trading on the first trading day after the deadline date. | 10/07/2024 |
ASX will continue to suspend trading of the Company's CDIs until such time as it lodges its annual financial report. The Company has been unable to lodge its annual financial report and Appendix 4E for 2023 while it works through the process of identifying strategic and financing options to secure its future. As mentioned in its last press release, the Company is exploring strategic options to maximize stockholder value and has received multiple indications of interest from potential partners. The process is ongoing, but it is difficult to anticipate the potential duration of the process. The Company is hopeful that the process can be concluded in a timely fashion and that it can resume lodgement of its periodic reports shortly thereafter. | 19/03/2024 |
ASX has agreed to extend the voluntary suspension of the Company's CDIs for up to a further two weeks while the Company continues to pursue Its strategic process. The Company's investment bank, B Riley Financial, has received multiple indications of interest with respect to a potential acquisition of the Company. At least one party has indicated it would need another week or two before it can complete its due diligence with a goal of presenting an indicative offer to the Company. The Company has therefore agreed to give additional time to that party. The Company has continued the streamlining of its cost structure including the previously announced furlough of its employees. The Company has also continued to experience delay in receiving payments from customers and is currently working on securing additional financing as well as renegotiating default forbearance terms with its creditors. The securing of such additional financing and the renegotiation with its creditors are critical to the Company's success and the Company believes that continued trading in its securities is likely to be materially prejudicial to its ability to complete such a transaction that is critical to is continued financial viability. The Company also advises that it has entered into certain management incentive and retention arrangements with the Chief Executive Officer and Chief Financial Officer of the Company whereby those executives might receive incentive compensation in the event of a successful sale transaction. | 04/03/2024 |
The securities of Revasum Inc. will be suspended from quotation immediately under Listing Rule 17.2, at the request of RVS, pending the release of an announcement regarding its funding, an update to its strategic process and/or other material updates. | 05/02/2024 |
listed entity carried for record purposes only | 04/12/2018 |
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DATE | DIRECTOR | NATURE | NUMBER | PRICE | AMOUNT |
---|---|---|---|---|---|
27/12/2019 | Jerry Cutini | 100,000 | $0.031 | $3,133 | |
18/12/2019 | Jerry Cutini | 10,000 | $0.720 | $7,200 | |
29/08/2019 | Jerry Cutini | 37,500 | $1.440 | $54,019 | |
17/05/2019 | Jerry Cutini | 37,500 | $1.360 | $51,000 |
NAME | TITLE | DATE OF APPT |
---|---|---|
Kevin Landis | Non Exec Chairman | 04/12/2018 |
Alejandro Garcia | COO | 03/01/2022 |
Bruce Ray | CFO, Company Secretary | 12/09/2022 |
Paul Mirabelle | Director | 04/12/2018 |
Scott Jewler | Director, CEO | 02/08/2022 |
Date of first appointment, title may have changed.
NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
---|---|---|---|
Ryan Benton | CFO | 04/12/2018 | 31/10/2023 |
Bill Kalenian | Interim CEO | 23/05/2022 | 02/08/2022 |
Rebecca Shooter-Dodd | Executive Director, CEO | 01/11/2020 | 23/05/2022 |
Vivek Rao | Chairman | 04/12/2018 | 28/09/2021 |
Jerry Cutini | President, CEO | 04/12/2018 | 29/12/2020 |
Date of first appointment, title may have changed.
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