I think it may be closer to $1.8M in the kitty.
They raised $3M. Less $516k for Dr Sun, $340k for cap raising, and an estimated $500k for quarterly running costs (assuming that they've ramped up production again).
Add the $118k they had in the bank at the start of the quarter and you get $1.76M.
Happy to be corrected (and abused) as always.
to feel pain, page-22
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