You seem to be confused about how long 1 month is and how long 1 quarter is.
Last time I checked, a quarter is 3 months.
Your 3 x approx $500k cash burn per quarter = approx $1.5m per quarter.
They are predicting $860k per QUARTER (not per month). And that doesn't include revenue. Not much more than half of your estimation.
Your projections on cash on hand at the end of the quarter was not even close.
MOU2 and MOU3, page-50
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