simple clear no nonsense - What have BIG done wrong, page-78

Well your first issue is nonsense as that is very unlikely to be what is happening (pure speculation on your part). Second issue is potentially of substance, but immaterial to the market value of the company (imo only). Third issue is unscrupulous as this arrangement increases the value of the business by bringing legitimate cashflow forward in time, I don't see any issue with the accounting aspect of this based on the nature of the model.

They are not third party loans and the operating cash flow is legitimate, how many times does this need to be explained? It's not an uncommon arrangement for growing companies at all and the client is NOT forced to use it.