Well i am eagerly awaiting new finacial statements that reflect...

Well i am eagerly awaiting new finacial statements that reflect reality so we can see exactly what the position is but your hypothesis may well be accurate. They did actually say they had 31m in cash at december end and in reality its probably closer to 5m after reading the asx aware letter.

The good news for holders is it would appear they want to relist as shown by filling vacant board spots and continuing to produce videos.

Being an ex insolvency accountant i understand how difficult asic can be to people who they perceive haven't done the right in these situations as i have seen this with companies i have dealt with in the past, so i would agree that asic is likely the stumbling block not restatement of accounts. For BIG to relist the will likely need to throw a few sacrificial lambs (metaphorically speaking) at asic imho