Yep makes sense. If you read back through my original analysis I...

Yep makes sense. If you read back through my original analysis I did suggest they should be providing some sort of cancellation/refund provision against the deferred revenue. However, BIG have also stated that the cancellation rate to date has been zero, so I think they are using that as a reason not to provide any provison.

Hard to really know though, I've given up trying to second guess too much and just waiting for outcome of ASX investigation.