Examples of 4Cs being misleading?

I never had much interest in BIG before recent times as I thought the product was garbage and the business model unsustainable, but I never doubted the cash position and the 4Cs. At worst I thought they had a real, if limited, business preying on stupid SMBs.

While it will take sometime for the full BIG story to come out (and I hope for most holders there will be a positive outcome), does anyone know of any companies on the ASX that produced completely misleading 4Cs in recent times? I doubt almost everything about speculative companies on the ASX, but the cash position is the one thing I trust.