Big Un’s shares take a dive following financing admission
The company confirmed that it had a relationship with FC Capital through its Finstro platform, which is a small business lender.
Finstro appears to provide funding to Big Un that lets Big Un offer interest-free payment terms to its customers.
Big Un has been issuing shares to Finstro at steep discounts, with one issuance at $0.20 in January. Big Un’s share price at the time was above $3.
Impressive cash generation pushed the stock up 1,600%
Big Un was founded by then 19-year old Brendon Evertz and his father Richard. It is behind Big Review TV which produces videos for small businesses such as coffee shops, salons and restaurants.
The company’s impressive cash generation had pushed the stock up 1,600% in 2017. Big collected over $22 million of cash receipts in the fourth quarter of 2017.