BIT Charting, page-1520

How did you calculate that Max? Did you mean to say months, not quarters?

You said "according to the last quarterly report (for the quarter ending at the end of March) they have enough cash for about two and half quarters given the bur rate which is likely to be fairly stable."

The quarterly actually told us that they had $1.28m balance as the end of the last quarter. That was 5 weeks ago. Its also told us that they were continuing to spend it at approx $350-400k per month, ie $1.2m per quarter. This suggests that as of today they have approx $900k.

How did you calculate 2.5 quarters? Just wondering.