This article raises further questions that management needs to...

This article raises further questions that management needs to provide detailed answers for. The AFR is not outright accusing BIG of anything illegal but rather elaborating on some questionable links between BIG chairman Hugh Massie, BIG management and the accounting firm in question.

What we know is that Hugh Massie had a business relationship with Ray Walker but the AFR is very clear in stating that they are not insinuating that Hugh knew of Walker's wrong doing - "There is no suggestion that anyone other than Ray Walker knew of his fraudulent activities".

The AFR then states that this accounting firm helped set up the entities housing BIG shares for management. This on its own is not suggesting wrong doing but it leads to the question as to why BIG management would want to be associated with Walker & Co, which the company really needs to clarify.

There are also some queries regarding 783,000 shares issued to Smokinale. The company needs to clarify the nature of the transaction and the services rendered for which the stock payment is for. Same goes for the 54,000 shares issued to Brett Walker although this likely was payment for accounting services of some form. The AFR alleges deep discounts for stock issues but conveniently leaves out the fact the stock had just rallied from ~20c at the time and that these stock issues would've been previously negotiated at the prevailing market price.


There are a lot of questions here that the company needs to address. I am hoping for a BUD-style response where management can go above and beyond to clear the air on all these issues and provide more details than required. I believe this is what is required to clear the air and restore investor trust and confidence in the company. It would also take away the AFR's ability to keep recycling negative spin on the issue.