ASIC convicts Integrated Media Technology (NASDAQ: IMTE) over 2021–2024 report failures
Rhea-AI Filing Summary
Integrated Media Technology Limited reports that the Australian Securities and Investments Commission has commenced proceedings in the Magistrates Court in Adelaide for the company’s failure to lodge annual and interim reports for 2021, 2022, 2023 and 2024. The company understands it was convicted in an ex parte hearing, which it did not attend.
The filing states that the maximum potential penalty is A$2,652,000, described as approximately $1,726,000, though the company cannot yet quantify the actual penalty that may be imposed. Integrated Media Technology has engaged legal counsel to address the matter and plans to provide further updates when available.
The company has completed its interim and annual reports for 2021 and indicates it will file these with the Australian regulator shortly, aiming to begin addressing the historical reporting breaches.
Positive
- None.
Negative
- ASIC proceedings and conviction for multi-year reporting failures covering 2021–2024 create legal and reputational risk for Integrated Media Technology Limited.
- Potentially material financial penalty with a maximum stated at A$2,652,000 (approximately $1,726,000), with the actual amount still to be determined.
Insights
Regulatory conviction in Australia introduces legal and financial risk for IMTE.
The disclosure shows Integrated Media Technology Limited faces proceedings by the Australian Securities and Investments Commission for failing to lodge annual and interim reports for 2021–2024. The company understands it was convicted in an ex parte hearing in the Magistrates Court in Adelaide, meaning the case proceeded without its attendance. This moves the issue beyond a mere inquiry into a formal enforcement outcome.
The maximum penalty cited is A$2,652,000, described as approximately $1,726,000, which could be material for a smaller foreign private issuer if penalties approach that upper bound. However, the actual penalty is not yet determined, and the company explicitly notes it cannot currently quantify the amount, so the financial impact remains uncertain. The company has retained legal counsel in relation to the matter, indicating it is actively responding.
Operationally, the breach relates to non-filing of Australian reports for four consecutive years. The company states that interim and annual reports for 2021 have now been completed and will be filed with ASIC, suggesting initial remedial steps are underway. Future disclosures may clarify the actual penalty imposed and whether subsequent years’ reports are brought up to date, which will shape how persistent this regulatory overhang remains.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________
FORM 6-K
______________________________________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
Dated August 13, 2025
Commission File Number: 001-38018
______________________________________________
Integrated Media Technology Limited
(Exact Name as Specified in its Charter)
______________________________________________
N/A
(Translation of Registrant's Name)
Suite 3 Level 3, 89 Pirie Street
Adelaide SA 5000 Australia
(Address of principal executive office)
______________________________________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (7): ☐
OTHER EVENTS
On 8 August 2025 the Company's management was notified that that the Australian Securities and Investments Commission ("ASIC") had commenced proceedings in the Magistrates Court in Adelaide, South Australia, for failing to lodge annual reports and interim reports for the years 2021, 2022, 2023, and 2024 with ASIC. The Company understands it was convicted following an ex parte hearing (a hearing which the Company did not attend). The maximum penalty is A$2,652,000 or approximately $1,726,000. At this time, the Company cannot quantify the amount of the penalty. The Company has retained legal counsel in relation to the matter and will provide further updates once more information comes to hand. The Company has completed the interim and annual reports for 2021 and will be filing these reports with ASIC shortly.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: August 19, 2025
| Integrated Media Technology Limited | ||
| By: | /s/ Con Unerkov | |
| Name: | Con Unerkov | |
| Title: | Chairman & Chief Executive Officer | |
FAQ
What did ASIC do regarding Integrated Media Technology Limited (IMTE)?
What is the maximum potential penalty IMTE faces in this ASIC matter?
Which reporting periods did IMTE fail to lodge with ASIC?
Has Integrated Media Technology Limited taken any steps to remedy the reporting failures?
Is Integrated Media Technology Limited represented by legal counsel in the ASIC proceedings?
What does IMTE say about the conviction mentioned in the filing?
