Company History

The Company was incorporated on 3 October 1985.  Following several name changes, it became Telezon Limited on September 3, 2002.

On 14 June 2001 the Company requested a trading halt of the Australian Stock Exchange followed by a Company request to suspend its securities from official quotation.

On 29 September 2001, the directors of Telezon resolved that the Company was insolvent or was about to become so and, as a result, all controlled entities dependent on Telezon for financial support were also insolvent or about to become insolvent.  The Board of Directors, therefore, resolved to appoint administrators to Telezon and its subsidiaries.

The Company emerged from administration on 18 December 2003.

At an extraordinary general meeting of shareholders on 27 February 2004 the then directors, secretaries, and auditor of the Company were removed and replaced. 

On 3 June 2005 the Company issued a prospectus for the issue of shares at 1 cent each to raise capital for the operation of the Company and its business.  That capital raising was closed by the Directors having raised approximately $2.2 million.

On 21 October 2005 the company issued a prospectus for the purpose of acquisition of technology and of reinstatement of quotation of the shares of the company on the Official List of the Australian Stock Exchange.

On 25 November 2005 the shareholders in general meeting resolved to consolidate the capital of the Company on a basis of one share for every 20 shares then on issue.  The current total number of shares on issue is 28,400,000.