Update on ASIC Infringement Notice and Penalty
Brisbane, Feb 5, 2019 AEST (ABN Newswire) - Byte Power Group Ltd (
ASX:BPG) advises that BPG has complied with the Infringement Notice issued by ASIC on 12th December 2018 requiring BPG to pay a penalty to ASIC in the sum of $33,000. The penalty payment was made today which is within the extended compliance period as granted by ASIC.
The Directors reiterate that compliance with the Infringement Notice is not an admission of liability by BPG and cannot be regarded as a finding that BPG contravened subsection 674(2) of the Corporations Act.
For more information regarding the Infringement Notice and ASIC determination, please refer to the ASX Announcements dated 13 December 2018.
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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