Ann: Response to ASX Query Letters, page-194

I think we're all getting a bit confused here (including myself lol).

I read it as FC have allowed themselves to finance enough customers from BIG up to the amount of $20m. So the lending from FC is capped at $20m. As customers pay, that frees up the available amount that they are willing to lend. The lending is between FC and the SME, not BIG.

When a customer agrees to use finance to pay for the production of the video, 35% is forwarded to BIG immediately. Then the customer pays in 12 monthly installments to pay off the remaining finance. As the customer pays FC, BIG receives a portion of the amount that has been deferred. BIG have structured the agreement this way to allow better cash flow. That's my take on things at this stage.