Step 2 was their belief that they could get enough customers to sign up to actually spend $ to keep it rolling on. Paying suppliers with shares kept their cash outflow low.
I can relate to shareholders who have been mislead, they just believed the financials. But I cant understand FC’s position.
They knew the financial agreement, how much they were advancing to big each month, and were getting monthly financial reports. Why did they keep handing over millions each month recently?
I think there is alot more still to come out here.
I can understand why the company is not releasing its half yearly financials; release too much detail and they are handing extra information to authorities; release too little and they add to any potential non-disclosure issues. No financials, easily justified by “clarifying accounting issues”, is the lowest risk option.
Hopefully they are not allowed to leave the country.
BIG Price at posting:
$2.22 Sentiment: Sell Disclosure: Not Held
(20min delay)