Insider Buying Frenzy: Why AHF Could Be the Next $250M Dairy Giant, page-209

It must be coming (CR) as the company has been reliably burning over $1M per quarter for some time now.

As of the last report there was $6.3M in funding available, or 5 quarters left of funding at that cash burn rate. There would potentially also be a further $2.5M from the Mutree deal, but that was contingent on if / when Wenjun Andy Zhang / Mutree decides to pay for the inventory. There is an agreement between AHF and Mutree, but Zhang appears to be a party to both sides of the agreement, so who knows. Best case scenario they see that sales revenue in 12 months whereas they will wear the manufacturing costs now.

One would assume AHF also needs a higher marketing spend than the current level in order to launch and advertise their new product into China in the next 6 months. The FY24 marketing budget was $330,000 which is next to nothing. So that all adds to the burn rate and probably leaves them with less than the stated 5 quarters of funding.