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 a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.