The financing arrangement is basically a bundled sales product. They are selling a video membership and a line of credit via FC. There is nothing wrong with that as a business model, it's working very well judging by how popular it is. The issue is that it was not disclosed properly and it's potentially not been accounted for properly. IMO both of those issues are fixable, and the model will still be commercially afterwards.
You're implying that the partnership with FC will no longer exist, and BIG will not be able to offer the bundled video/credit product. I'm not sure that'll be the case. You also don't seem to be taking into account the non-financed customers, the US growth, the advertising revenue etc. Could easily still be a $50m turnover business even after FC figures have been restated, especially as we are now another quarter further along in the growth story as well.
