ASX Probes Codeifai’s Disclosure Timing Amid QuantumAI Deal
Codeifai Limited has confirmed entering a binding agreement to acquire the QuantumAI Secure platform from Credissential Inc, affirming its compliance with ASX continuous disclosure rules amid regulatory scrutiny.
- Binding agreement signed on 30 June 2025 for QuantumAI Secure platform acquisition
- Acquisition involves Canadian company Credissential Inc
- Codeifai acknowledges material impact on its securities’ value
- Company confirms adherence to ASX Listing Rules on timely disclosure
- ASX queried timing and disclosure prior to Codeifai’s formal announcement
Background to the Acquisition
Codeifai Limited (ASX – CDE), a prominent player in digital and AI-powered brand solutions, has officially confirmed it entered into a binding agreement on 30 June 2025 to acquire the QuantumAI Secure platform from Canadian firm Credissential Inc. This platform, previously known as Antenna Transfer and now rebranded as QuantumAI Transfer, represents a significant technological asset in the quantum computing AI space.
The acquisition was first publicly hinted at in a corporate update on 6 June 2025, and the company subsequently requested a trading halt on 27 June 2025 amid a notable surge in its share price. The formal announcement of the binding agreement was released on 1 July 2025, clarifying the transaction details and confirming the strategic move.
Regulatory Scrutiny and Disclosure Compliance
The Australian Securities Exchange (ASX) Compliance team raised questions regarding the timing and adequacy of Codeifai’s disclosures, referencing the sharp price movements and the sequence of announcements. The ASX sought assurances that Codeifai had complied with Listing Rule 3.1, which mandates immediate disclosure of information likely to materially affect the price or value of securities.
In its response dated 3 July 2025, Codeifai unequivocally confirmed that the acquisition agreement constituted material information and that it had complied with its continuous disclosure obligations. The company stated that it became aware of the binding agreement only after market close on 30 June and promptly disclosed the information the following day. Codeifai also confirmed that its responses were authorized by the board or delegated officers, underscoring its commitment to transparency.
Strategic Implications and Market Reaction
The acquisition of the QuantumAI Secure platform aligns with Codeifai’s focus on leveraging cutting-edge AI technologies to enhance brand engagement solutions. While financial terms were not disclosed, the move signals an expansion into quantum computing-backed AI capabilities, potentially offering scalable and high-margin growth opportunities.
Market reaction prior to the formal announcement was marked by increased volatility, with the share price doubling from $0.034 to $0.07 within days. This surge likely reflected investor anticipation and speculation about the deal’s strategic value. The ASX’s intervention and Codeifai’s subsequent clarifications helped restore orderly market conditions.
Looking Ahead
As Codeifai integrates the QuantumAI Secure platform, investors will be keen to see detailed disclosures on the acquisition’s financial impact and operational synergies. The company’s adherence to continuous disclosure rules during this process will remain under close watch, given the sensitivity of market-moving information in the tech sector.
Bottom Line?
Codeifai’s acquisition marks a pivotal step in its AI evolution, but the market will watch closely for detailed financial and strategic updates.
Questions in the middle?
- What are the financial terms and expected revenue impact of the QuantumAI Secure platform acquisition?
- How will Codeifai integrate and leverage the new quantum AI technology within its existing offerings?
- Will there be further regulatory scrutiny or market volatility as more details emerge?
