Big Un responds to media speculation about 'cash flow secrets'

Company News

by Jessica Amir

Video and TV platform, Big Un (ASX:BIG) quashed media speculation about its cash flow and working capital after the AFR published a story on its alleged ‘cash flow secrets’.

Big Un says it does not loan money to SME’s nor earn commission from FC Capital’s Finstro platform, or from any loan taken by an SME, contrary to what the AFR published.

But the company says Finstro does allow its customers to make alternative payments solutions for their video marketing by advancing payments.

This is like many major retailers, whereby through Finstro, Big Un can offer its customers interest free payment terms and no upfront production costs.

Over the last 12 months its shares have gained 575 per cent.

Big Un (ASX:BIG) shares closed 6.73 per cent lower at $2.77 on Thursday.

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.