Spot on Yolo. $4M raised in the recent CR. - No capital raising...

Spot on Yolo. $4M raised in the recent CR. - No capital raising this year. $4.9M should last a while.
Even if this 4th iteration gets delayed there is still plenty of cash left over to do a couple more iterations.

Just as importantly investors should also recognise that the 4th iteration may be final (i.e could potentially used for production), it does not mean that 4DS should stop R&D. They may elect to improve their findings and/or go for other design variations. ie speed improvement, reliability, size etc...
The significance of the 4th iteration is that an interested partner can take that design and consider production options - major milestone win. Even WBT struggled to get this far.

For clarity I am going to quote the last CR announcement on 23 July 2019 so that there is no mis-information out there.

"Following the announcement by 4DS Memory Limited (4DS or the Company) of a placement of 65 millionshares at an issue price of A$0.05 per share to sophisticated and professional investors to raise a total ofA$3.25 million (Placement), the Board of 4DS is now pleased to offer eligible shareholders an opportunityto share in the ongoing progress of your Company by subscribing for up to $15,000 in new 4DS shares,with no brokerage costs, through a Share Purchase Plan (SPP).This SPP allows eligible shareholders to participate at the same price as the Placement, being A$0.05 pershare. The SPP will be available to all eligible shareholders on a first-come first-served basis and cappedat A$750,000.