Ann: Trading Halt, page-571

Haven’t read all of the comments but it seems like afr is fishing by asking questions and creating a lot of doubt for which there may be perfectly reasonable answers. Would have helped to have everything disclosed in full they’ve already announced fcc relationship in 2015 and it’s not normal practice to announce every detail of every agreement Though in hindsight it’s clear they should disclose more especially as the company is growing so fast.

What I’m hoping for is a clear detailedresponse that puts things to bed as well as revenue guidance for the current qtr on cash basis and also accrued basis. Also for 1H Revenue on accrued basis as well as deferred revenue in the liability section of balance sheet that is waiting to be reclassified to revenue over next 6 months and over 12 months.

My hope is that as fcc pay sponsorship money to big for having the fcc logo on the videos and fcc also bear the risk of non payment from vendor that the security on assets just cover the return of sponsorship money fcc paid to big if vendor does not pay fcc and big should therefore take the video down (including fcc advertising that is within it). The sponsorship revenue I don’t believe is a large component of total revenue and big still have the cash and revenue even if vendor cancels. If the revenue is non refundable to vendor then big should reclass all deferred revenue on balance sheet to revenue in Profit and loss at point of cancellation rather than dripping it to P&L over the length of the contract as they would have no obligation to fulfil for the cancelled vendor.

Just my thoughts. No one knows until the facts are out.