"company running out of cash because ..."
You are talking about IVZ of course? IVZ had $22m at the end of June so after M-2 costs they will have nothing left in the kitty.
MAY had $35m at the end of June with A-2 and A-3 costs expected at about $20m (MAY's share) so at the end of the current campaign they should have about $10m left with IVZ close to zero.
Alameda-3, page-251
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