That was the cost of purchasing Microdrainage, which was then...

That was the cost of purchasing Microdrainage, which was then bundled under the XP software brand. Prior to that they purchased XP software together with Willing and Partners - the Canberra engineers who developed the SWMM software. That was circa 2001 - not sure what the purchase price was. Sounds like more of a breakeven after inflation, but better than a loss.

I don't think they had any choice with the second capital raising - they had to meet their covenants by the end of June. Doesn't sound like 2017 is going to be that great a year, but at least theit debt is under control.