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buckley

320 Posts.

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24/05/18

10:25

Post #: 33285823
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Originally posted by Warnie ↑

Just one thing to point out, putting whether you agree with the finance model or not, I haven't read anywhere via any Ann's that BRTV defaulted on their obligations to FC. The Ann's states that BIG put it into voluntary liquidation to enable a restructure. I think that has more to do with debt levels rather than not meeting obligations. So to enable that restructure did the debt outstanding need to be moved from FC to a bare company? It seems the answer is yes I guess? It also states the bare company with the debt will keep funding BRTV so they can't be too concerned, in fact this means IMO BRTV have met their obligations? So the only thing we know is some or all staff have been unpaid. For how long not quite sure, but that means a cashflow issue. I'm finding it hard to understand however I think FC was holding most of the coin in their accounts, and maybe pulled the plug or put a stop to any more loans to SME's at some point, and it could be due to SME's starting to default on repayments, loans they are holding on their own books, that IMO makes more or some sense. It throws up more questions than answers, sorry, but one thing I have learnt trading for long time is things are never as good as you hope and never as bad as you think, the truth or end result normally lands in between. I'm doing some of my own detective digging in the background as I refuse to let holders here get screwed over here, I'm actually quite filthy about this whole mess, and I don't even hold, will report back with anything I find.

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Thanks Warnie. I'm a 75 year old pensioner who has lost 95% of my total assets to BIG so the future looks very bleak. I'm about to write a letter with a claim to DWAdvisory ( the auditors)

BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
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Big Un update!, page-111

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