The National Stock Exchange is a small Australian Stock Exchange. 

- edit - Just read the ISX thread... There's a comment on the major shareholder and I think CEO of NSX. "ASIC is seeking declarations and pecuniary penalties against iSignthis and Mr Karantzis. ASIC is also seeking orders that Mr Karantzis be disqualified from managing corporations."

Not a good sign.

I am curious to have a bit of a look at some of the companies listed on the NST as there wouldn't be many eyes looking at them and they are almost all microcaps. I do wonder what happens to the businesses on this exchange if these guys go under?

Would the larger ones be then forced to list elsewhere? (or go private?) Would that mean that the they may attract some more attention going into the ASX? This could be a potential re-rate for some of these companies if they are doing better than their price indicates.

As for the business:

Not that many assets and lost 3 mil this year. There doesn't seem to be a huge rush of companies to list. These guys look in trouble to me. 

There may be potential in the business model - Offer a cheaper place for companies to list and aim for the microcaps, but I'd want to see some more listings.

Worth noting that they have an investment in a Fintech product ClearPay, that seems like its aiming to clear share trades in a day. (ISX seems to own it, and they seem to have some stoush with the asx going on...)