Ann: Trading Halt, page-106

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Ryzie

3,795 Posts.

1980

19/02/18

13:31

Post #: 31158043
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Originally posted by Warnie ↑

FC Capital chief executive Brad Prout confirmed that FC Capital held a "General Security Agreement which secures the performance obligations of BIG Un under the sponsorship agreement."

Performance obligation?

BIG was to provide FC with just 2 things:
Access to their SB clientele and to include flash advertising of FC via the SB videos

This is NOT a sponsorship agreement, far from one, it is IMO a loan advance by FC to BIG against future client sign ups by FC. Hence why there is NO referral fee paid.

It's that simple.

IMO....The books have been cooked by continual loan advances to BIG disguised as "sponsorship" to prop up revenue numbers, recoverable by way of SB clients and/or share issuance, whichever comes first.

I do hope i'm incorrect, it's just an opinion, with many years exp in the finance game, it's a duck and its quaking.

The shares issued to FC is direct correlation IMO to loan funds advanced to BIG.

This is why there was no mention of the 3m share deal or 3B previously, the funds owed to FC could well be any amount?

What was the latest issuance, 500k worth $4 each at the time, that's $2m

Question is, how much is BIG into FC for?

Expand

It was 3,030,000 shares in total when the shares were around the $3.30 price. Approx $10m value in total.

Also couldn't find evidence of those shares being sold.

There's a lot of questions being asked now and I guess we need to see what the response is from the ASX aware query.

BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
2 Upvote

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