so here are the facts in the story summarised (without the...

so here are the facts in the story summarised (without the fluff)

- BIG has a cost efficient (crappie cheap) call centre next to some vacant shop fronts
- they have a sales script
- the sales team are critical
- telemarketers don't get paid a lot (shock horror)
- BIG is on the verge of the S&P/ASX 300 index, pending review.
- the telemarketer office is called 'the boiler room'
- the sunshine coast is apparently the telemarketer centre of Australia
- BIG recruited some telemarketers from Youi
- they have about 50 telemarketers
- Big Un Limited has been suspended from trading on the Australian Stock Exchange.
- the sales team gets customers onboard via a financing arrangement with FCC
- Richard Evertz has a chequered past that shall haunt him forever and ever
- in 2013, Richard Evertz and his son Brandon approached Ben Hunter to help market their big idea
- Ben Hunter helped secure early investors and an early call centre
- the Big Review TV management team is Richard, Thurston, Brandon, Hunter, Andy Corner
- Tim Dewhurst had some role probably
- as part of the float, Big raised $3 million from investors, including Massie's 5G Capital and RBW Nominees.
- the reverse float probably was difficult
- Sonia Thurston was unhappy with the use of Hitleap in the early days of rampup and felt it f'd with their organic analytics
- the company preferred to put staff on as contractors, which annoyed some employeees
- the company while in cash strapped startup mode paid some key staff and contractors in share based payments (exactly like Xero might I add)
- Big has sh!tty internal email privacy
- Richard had disagreements with some contractors and a production manager - seemingly over the fact they maybe didn't like getting paid in shares and he is a dick
- a former staff member once decided she didn't need to go to work because she wanted to do some volunteer work and Brandon wasn't real happy
- Brandon couldn't do a community service day due to work committments ... cool story
- employees sign NDA's
- Richard's employees often have a go at him (TBH he seems to rub a lot of people the wrong way, maybe he should find a new job)
- staff members sometimes had to work long hours
- sometimes the management team celebrated
- Big had a $2.4 million raising via Perth stock broking firm CPS Capital.
- Richard kept a close eye on the share price
- Richard threatened to sue stock market forum Hot Copper to reveal the identity of a "downramping'' poster (who was probably an insider breaking an NDA)
- the directors would receive shares as a form of remuneration in startup
- October 19, 2016, shareholders authorised the replacement of Melbourne audit firm PKF with Graham Swan of West Perth-based Rothsay Resources.
- Big Review's sales went parabolic.
- In April 2017, Big told the market it had collected $5.6 million of cash receipts in the first quarter of the calendar year, up 370 per cent. In July it reported quarterly cash receipts of $9.4 million and in October $15 million. Earlier this year, Big said its cash receipts reached an incredible $22.5 million for the quarter, suggesting it could rake in $100 million annualised
- In November 2016, Big purchased Intermedia, a company 24 per cent owned by small cap fund manager Kerry Series of 8IP, who subsequently bought 1 million Big shares
- Big's progress attracted more investment
- equity was being issued at discounts based on lagging agreement times and a cray cray share price
- some pty ltd holding firms have funny names
- Big did an ad deal with Hot Copper
- in late November 2017, Big announced it was expanding into the US with the purchase of the Tipsly app
- Big partnered with US marketing firm Zeta, placing its founder David Steinberg on its advisory board for 1.6 million escrowed shares.
- BIg films a lot of videos, not all generate revenue
- BIg has a finance partnership with FC capital (Finstro), they finance up front costs on the proviso the customer pays back through their finstro platform etc
- FC capital has a lot of capital and many investors, it lets Big use about 20 mill of it
- Big requires an ABN as part of customer sign up
- Big's bank balance is actually two thirds deferred revenue
- Big has yet to RELEASE its half-year accounts to the market.
- Moelis pulled their price targets on BIG
- Big is still doing business

so. I have been trying to determine a fair share price value using the plethora of details we now know off the last 4C and the letters to asx.

I am completely disregarding big's cash backing and tangible assets. they are not anywhere near high enough to factor in greatly IMO and most of it is deferred revenue

- the best case scenario is that all receipts lead to revenue; so just annualise the current quarter and apply a revenue multiple of 10 based on high growth and a share price of $5 is derived. THIS IS NOT GOING TO HAPPEN....sorry

- the worst case scenario is that the only legit receipts in the 4C are the advertising and non-financed receipts. using the same calcs this yields a share price of about $1

- using quoted figures of a measly 46% take up of financed videos as well as only getting 35% of the receipt to the current quarter as a base for revenue annualisation we an derive an actual value of about $1.65. so still another solid 25 to 30 percent whack south after the last 50 percent drop...

sad days

Ps. Please be courteous to others here right now