They currently have ~2m in cash, and estimate 3.6m in cash outflows next quarter.
Any delay in the project or payments from the customer, and they run into cash flow problems immediately. They need a larger cash buffer. Limited cash also means limited ability to take on new projects etc etc.
I guess this is why they didn't buy the German company (which they have just stopped talking about) - no cash.
Ann: Investor presentation, page-5
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