BIG 0.00% $2.22 big un limited

Relist -When??, page-21

  1. 1,228 Posts.
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    Yes, understood. I'm not stupid. But if you have issues with the fact that a 4C and cash flow statements can be reported the way BIG did, why don't you petition to change accounting rules with International and Australian Accounting bodies? They are the one's making rules for accounting that then ASX companies have to follow. BIG's auditors signed off on it, so all is legal.

    Again, yes BIG could have disclosed in their 4C that a better way of looking at cash flows is to look at them as loans or even secured loans by BIG. Still, they didn't and that doesn't mean they have broken any accounting rules.

    I'm not saying they have done something good, I'm actually furious at them and the disrespect they have shown retail investors. So go bang down the door of ASX and have ASX explain how BIG was allowed to trade for so long without properly disclosing the business model? That's ASX wrong doing as much as BIG. I have seen ASX fail in this department with many other ASX listed companies. As long as ASX doesn't get their act together (and they should have the resources for it as listed companies pay ASX lots of money) then the small cap end of town will continue to have lots of companies pushing their luck on the back of smaller retail investors.
 
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