Ann: Big Un Limited Market Update- Finstro, page-82

I'm surprised at the some of the interpretations of this. No wonder I suspect BIG will get sold off tomorrow as people will make up what they want.

It seems clear to me like some here have summarised that BIG is not taking on debt. In fact, that is crystal clear from their financials.

BIG is referring their own customers to Finstro who then fund the next 12 month payments (ie. creditor finance for BIG customers). They anny even compares it to how retailers do it which is like this.

Why does it work for BIG customers? They get some discount from BIG, still repay monthly at a lower rate than if they paid BIG directly.

Why does it work for BIG? As they've previously disclosed, by getting in advance payments they have the cash to fund their growth.

The above is also consistent with BIGs financial accounting and disclosures.

Will be interesting to see the market reaction. Likely down given the range of opinions even here.

Upside is they are making cash, won't need to go to the market for cash to fund growth, and if it takes the market a year to appreciate their business they will still be solvent.

Thats my take on it anyway.

MJS