It indeed is Quarterly burn rate within 1 Million USD per quarter. Please google MM.
And I cite here
"In terms of dollars, MM stands for 1,000,000. This is based off the Roman numeral "M," which stands for 1,000, and MM, which is used to indicate 1,000,000."
"MM is an abbreviation for millie millia, which in Latin means million. The two words translated separately mean the singular thousand and the plural thousands--a thousand thousands. Together they translate as directly as million."
For detail, please check the following links.
http://www.ask.com/business-finance/mm-stand-dollars-6f791c7c2d4dcd48
https://answers.yahoo.com/question/index?qid=20080323155213AAKnvfB
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