BIG facts

I gotta admit I kinda feel sorry for BIG and how this demise happened. If the CEO had a clean cut record and didn't hire TESLAs to roam around they would still be alive and well and probably still be around.

If FC Capital on steroids a.k.a afterpay, factoring receivables without recourse is the "best tech stock to come out of australia". I think BIG has a clear case for defamation, don't you think afterpay doesn't have a boiler room calling people to sign up to their platform?.

FC Capital pulled the lending facility because of the negative press surrounding the company, had nothing to do with their belief whether they could collect the receivables from the clients of BIG. I'm sure BIG was overly aggressive with their marketing, but if afterpay could do well i'm sure BIG could have survived too barring the negative press.

If you look at Afterpay their cashflow accounting is above the line in operating expenses.

They certainly didn't have much money to pay out from operating cash flows considering they pay first collect later. Without the lending facility from NAB they would be broke.
I love the negativity of shareholders who once held the stock, it goes from blue sky to doom and gloom. But in essence the media killed the stock. Even afterpay hosts "launch parties" and burns who knows what money trying to get millennials to use their platform.

If BIG was really set out to be a scam then they would have been raising plenty of money and selling stock all the way up. Neither happened. It's actually pretty sad that their ex employees couldn't get paid because their APT equivalent withdrew funding because of bad publicity.

In the end with stocks like these it's all about investor confidence. Playing psychology with the masses is easy, when you can sow doubt and spruik blue sky.