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BIG Filing for Chapter 11 and Ceasing all Operations, page-151

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alannnnnnn

2,590 Posts.

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21/05/18

13:38

Post #: 33233575
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Originally posted by avagadro ↑

Hard to take any positives from any of these reports of unpaid employees. I feel for them first and foremost, we are investing with money we can afford to invest with - they are working to make a living.

The first rumour was that the UK was closing operations (TBH though, what the fark had they been doing for the last 6 months, there was almost nothing coming out of the UK) but then this spread to talks of Oz and potentially the USA operations closing? Again, I am not sure how or why but I imagine it is related to freezing of assets by ASIC perhaps? Maybe there is just no available working capital to pay anyone?

The capital/debt transfer to the other company is just plain weird. Is this something ASIC OK'd? Sure it had to have been given all transactions surrounding the business would be on lockdown? Who knows that is the story behind that.

Given the circumstances, how has BIG managed to secure new directors or state in plain public view (again under the ASX's and ASIC's watchful eyes) that they were diligently working towards producing accounts and relisting etc? Pretty sure ASIC has access to the books and can quite clearly see payroll will not be met and would have taken steps to protect people if this was so?

And again, why had no directors or major investors offloaded shares recently? Someone knew SOMEthing was coming in the lead up to trading suspension as demonstrated by the irregular shorting. None of that marries up in any sensible way to events.

I am not trying to draw any conclusions yet, but thought I would post on how much none of this adds up.

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i still remembered i questioned what is BIG will never trade again, and got shoot,

here we are all here, so if anyone has any idea about class action, please let us know.

thx

BIG Price at posting: $2.22 Sentiment: Sell Disclosure: Held
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0 Great analysis

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BIG Filing for Chapter 11 and Ceasing all Operations, page-151

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