Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-40

That sounds a lot like NXL. As a trader said, it was a case of - “dress the pig in the gown and sell it like it's a princess”
Macquarie Bank was behind that one. I remember looking at the stock at the time they floated and thought it was hellishly overpriced, and then the SP even went up for a while. The Nuix saga probably did no credit to the sector whatsoever, just created a bad smell, and may have even affected TNT's prospects, who knows.

All IMHO, DYOR