My take is that the company has been slapped with an ASIC...

My take is that the company has been slapped with an ASIC determination that requires them to issue a full form prospectus if they intend to raise capital. There is nothing new in this that we didn't already know. I am sure we all know that there was no chance of ever raising capital based on the previous accounts. Nothing new here.

The announcement also states that they are working towards completion of their "reviewed half yearly accounts". Nothing has changed here. They are still working "diligently" through the accounts so they can get sign off from the accountants before lodging with ASIC. Nothing new here.

They also state that there remains uncertainty as to when the accounts can be lodged. Obviously this is dependant upon them providing satisfactory accounts for the accountants. We assume they have probably had to go back some way and restate previous period accounts. We all assumed this was the case. Nothing new here.

Finally they state that there is no certainty as to when the securities of BIG will be reinstated to quotation. This is obvious considering the accounts have not been lodged and they are still subject to satisfying both ASIC and ASX requirements. Nothing new here.

IMO, there is nothing new in this announcement that we didn't already know before the announcement was released. We are still in wait mode, still holding our breath and still waiting to see some meaningful accurate numbers and some meaningful announcements.

We are completely in the hands of BIG, the accountants, ASIC and ASX. Anything from anyone else is pure speculation and opinion.

By the way - this is all my opinion.





- It does look like they have received a smack for not submitting half yearly on time and as such if they want to raise capital they cannot be do so under "special prospectus content rules for continuously quoted securities". They would need to comply with a full-form prospectus.
- It appears they have submitted the half yearly to ASIC
- ASIC have reviewed and want more info or further clarification and are in discussions with BIG regarding those matters.
- Knowing how ASIC work (and their time frames) BIG cannot comment on time frames as there may be some back and forth to get the accounts into order before they can be lodged.

We need to remain in waiting - AIMO