Ann: Response to ASX Query Letters, page-188

Why is the security deposits (41%) almost $20mil at 31 Dec?

We need to interpret the vague statement "FC makes an amount of $20,000,000 available"

It seems the $20 mil is the total amount forwarded, less commission less security. ie FC is effectively $20 mil out of pocket, but the total amount forwarded is around $48 mil.

That would be a huge concern, as it shows BRTV would have received around $17 mil to produce videos which it had not yet got customers to agree to pay for.