Cash Receipts From BHA Media Ltd
The Company's acquisition of BHA Media Ltd was anticipated to complete by 1 Jan 2017 and previous guidance advice included $0.75m in cash receipts from customers for Q3FY17. The acquisition process is approaching completion and the Company anticipates being able to make an announcement to the market very shortly.
Cash Flow Positivity Continues
BIG has previously provided guidance that it will achieve cash revenues of $15.5m excluding acquisitions for the full FY17. Based upon the expectation of achieving $5.2m this quarter, BIG will achieve $11.8m in contribution to the Company's target of $15.5m by 31 March 2017. Cash flow positivity will be maintained. Accompanied by strong continued growth, BIG believes that it will substantially exceed the $15.5m guidance for full FY17.
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About Big Un Ltd
BIG (ASX:BIG) is the parent company of Big Review TV Ltd. Big Review TV is a social media, video review platform. BIG are innovative disruptors in the online video space delivering subscription based video technology products and services. The Company has operations across Australia and in New Zealand, the United Kingdom and the United States, Hong Kong, Singapore and Vancouver and was listed on the ASX in December 2014.