You obviously haven’t actually followed this saga or done much reading. Yes, the customers did think a no cost video was being shot. They were presented with a sales pitch after the video was shot.
If you want to weigh in, go back and read the 4C statements and the long aware letter that details the model.
BIG was getting advanced a lot of money to shoot videos without having customers committed to purchasing the video. Hence huge loan and FC now being 45m in the hole. It’s pretty simple.
BIG Price at posting:
$2.22 Sentiment: None Disclosure: Held
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