TGA 7.89% 20.5¢ thorn group limited

Ann: Profit Guidance, page-23

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  1. 1,897 Posts.
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    sorry about that - I am not sure why I had access as I am not a subscriber.  Basically there were two companies called Viewble and and the shoppers network.  They put big televisions into small businesses ($15,000) and then they displayed advertising for other businesses.  The idea was that the revenue from advertising paid for the flat screen tv.  The TV was financed by equipment leases with various people - definitely FXL and Multipli, possibly Thorn. 

    Shopper Network had problems, advertising revenue didn’t happen and the small businesses were left with leases.  They all complained and refused to pay leases.  It’s been ongoing since November.  My guess is that would be the problem Thorn referred to, but it’s just a guess.
 
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