How did you get 12 months? After repaying the Lind short term loan and cap raise fees they would have 3.3m if the full 4.5 is raised, or 1.7m if only 3m is raised - and they still have their delayed payments on the state govt loan to contend with. The quarterly financials due next week will give greater insight, but I don't see anymore than 6 months runway in the best case and slightly more than 3 months in the worst case - neither case is enough to even reach their next R&D rebate.
How did you get 12 months? After repaying the Lind short term...
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