Based on a prima facie view of the quarterly the business has a...

Based on a prima facie view of the quarterly the business has a cash runway of just over 12 months, assuming the cashflow situation can be moved from its ucrrent negative to at least a neutral position. If not then it may well be sub-12 months and sliding nearer 9 months which will force a CR or a debt facility to put in place. Not many will offer a debt facility with the legal and compliance matters overhanging, unless they accept userus junk bond rates and terms.

I don't question the business strategy, the sheer survival of the business as a living continuing practise will measure that one. I question the liability the company that contains the business as its operating entity) has overhanging from the past and it cannot be washed away with pithy baseless fairytales by others.

The only way for the company as it exists for some major changes including a complete board replacement, a capital management restructure, a clear and final settlement of all overhanging legal and compliance matters, a revisit and validation of the business strategy and a brand rebuilding which may need to include some IP and market use matters.

12 months you say for the business to turn around? I offer it will never turn around until the other matters are addressed first. IF and when they are addressed then the business will take at least 2 full financial periods to turn around after that. Think 3+ years as a best case scenario and in the meantime your capital (new or old) will be zero yielding for quite some and wears the risk of any capital restructure that may arise.

The reverse is exit at whatever cost, take the tax loss as an offset and redeploy your remaining capital unless you utterly believe the technology beyond any sense of reality or reason and then it becomes a hobby not an investment.