Capital Raise?, page-31

I doubt you'll get the resolution you seek from ASIC. They can only work within the confines of the law, so to the extent BIG haven't made technical breaches then they won't have a finding against them. This is good news on the face of it, but it doesn't mean anything with respect to the issues uncovered by AFR in terms of the business model and the misleading figures on growth / receipts etc. The latter is what pumped the share price and the discovery that it was smoke and mirrors is what will crush it.

It's like the SGH situation - they were cleared by ASIC but were the accounts/company statements misleading to an investor? You better bloody believe they were. Farcical asset values based on unrealistic projections and fancy footed accounting. Technically correct, horribly misleading in terms of the underlying business.

Definitely not shouting at anyone to sell or ridiculing those stuck (me included), however accepting the reality of what's to come definitely helps. I accepted my fate on GSW during the suspension and sold the first moment I could. If I'd held on, hoping the company was going to save me with an announcement, I'd have lost 65% of what I managed to salvage. Personally I think enough has been revealed to know that BIG is worth a lot less than what it was and I won't be waiting for some spin from the company before bailing out asap. They can hardly be trusted, deep down most of us know it will be a load of spin the likes of which we should never see (for the record books!)