Update on continued suspension of securities
Brisbane, Feb 5, 2019 AEST (ABN Newswire) - Byte Power Group Ltd (
ASX:BPG) has queried the continued suspension of its shares on the ASX and sought confirmation from the ASX regarding the following:
- when it intends to reinstate BPG's shares to trading; or
- otherwise summarise the steps which BPG must undertake to have the suspension of its shares lifted.
In response to BPG's query, on 30 January 2019 the ASX advised BPG that:
- it still has concerns about BPG's operation of its cryptocurrency exchange, BPG's disclosure around the development of its cryptocurrency exchange and the legal status of the BPX loyalty tokens; and
- it intends to continue the suspension of BPG's securities until it is satisfied by the outcome of ASIC and ASX's ongoing investigations into these matters and is otherwise satisfied that BPG's securities are fit for reinstatement.
As of 4 February 2019, BPG has responded to all the ASX's earlier queries. BPG will continue to work with the ASX to have the trading status of its shares reinstated and will keep the market advised.
About Byte Power Group Limited
Byte Power Group Limited (ASX:BPG) is a diversified technology solutions group with a particular emphasis on securing Asian business opportunities.
Through Wimobilize, the Group has a new cutting edge technology solution, a proprietary Advance Hybrid Artificial Intelligence Big Data Technology Platform consisting of 31 Advance Analysis Engines, 4 levels of Hybrid Correlation and Al Profiling Algorithms customised for governmental, healthcare, banking, telco and tourism industries. This proprietary Big Data technology platform elevated the AI Predictive Analysis and deep insight intelligence to a new paradigm, applicable to any market segment.
This Wimobilize Big Data technology powered e-commerce ecosystem will provide the next generation innovative trading platform for distributing the Company's Australian wine, organic honey and honeycomb.
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