yes the actual agreement is very complex, and the accounting treatment of it may not be straightforward.........
But when you say this........ ASIC are investigating the financial accounts. There appears to be a mis-categorisation of the cash (there is cash, and then there is restricted cash) and non-disclosure of a contingent liability (potential repayment of advanced payments if BIG defaults). BIG will most probably need to restate their accounts.
....... my eyes open wider, I feel the investment fear awaken, then start to move around agitated in my seat then I finally take a deep breathe knowing a friend of mine is heavily invested in this beast and think to myself even if the financing deal is all sweet(which I believe it is) investors are about to take a further hammering.
This is not scaremongering this is legitimate fear based on how quickly this stock went up based on "cash reciept" numbers which now appear to be a bit dubious in nature.
Lets all hope we have heard the last from the AFR as well but given they have access to high level emails the chances are there is more to come as they don't seem to keen to spill all they know in one article........once again not scaremongering just being realistic.
BIG Price at posting:
$2.22 Sentiment: None Disclosure: Not Held
