How FC financing works for BIG, page-131

Thank you for the excellent contribution!

Pertinent and relevant questions given the centrality of the finance product provided by FCC.

The only potential counter to your disclosure point is around confidentiality as per ASX rules. Though as these terms are likely to be known to the SMEs who signed up for a BIG product as well as widely known internally in the organisation I don't think that will stack up as the information in practice is not confidential irrespective of how BIG wishes to view the information.

More disclosures to come no doubt.

On 1) I interpret clause 27 as you do but 30 differently. See clause 20 (c) where a Video Offer is defined as an 'Offer Amount'. My take is that clause 30 references to 'Offer Amounts' means BRTV is responsible for any money forwarded to it under clause 20 until such a time as an Accepted Customer is found, not all monies relating to the arrangement. This is legal interpretation so obviously my personal opinion only.

On 7) I believe there is no interest component on the forwarded money to BRTV from FCC unless a Accepted Customer is not found within 120 days of first being forwarded 35% of the Offer Amount as per clause 20. Clause 36 mentions 24% interest PA on outstanding money owed to FCC on termination of the agreement which at present is 1 January 2019 unless extended as per Clause 36.

Clause 13 of the second ASX response letter states that BIG has not paid any cancellation fees due to not finding a replacement Accepted Customer within 120 days. I believe a cancellation could create money owing to FCC which if not paid could then lead to interest being payable. Again my interpretation only and as BIG states this has not occurred.