How FC financing works for BIG, page-212

This is what AFR wrote:

by Myriam Robin
There's an awful lot that's perplexing about Big Un, the ASX-listed video firm now suspended for a week following queries by the ASX and ASIC, hot on the heels of an investigation by this paper about the nature of the company's revenues.

But one particular aspect of its response to ASX questions on Friday deserves special mention.

Big Un thinks it's wrong to ascribe, like this paper did, its pre-suspension share price rout to revelations about its relationship with FC Capital, after the share price plunged 40 per cent on the day it confirmed its customers were paying with money advanced to them by the Sydney finance company. "What the AFR failed to mention was that ASX had its worst week since January 2016 [sic], as part of a global financial markets correction and that there were a number of other factors which are likely to have contributed to the company's share price movement," the company said.

Funny, we vaguely remember reading about that. Could it have been on the front page? Regardless, in the week Big Un is referring to, the All Ordinaries fell less than 5 per cent; nowhere near as much as Big Un did in a single day.

Big Un also took great exception to The Australian Financial Review's depiction of its arrangement with FC Capital, claiming that it was widely known and previously disclosed, as well as covered on "reputable business related websites" such as finfeed.com, wholesaleinvestor.com.au and wiseowl.com. But again, if there was really nothing to see there, would so many shareholders have read of the agreement and decided to get out of the company at a steep discount that very day? Oh wait, we forgot: they must have been reacting to the global sharemarket correction ...

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