Ann: Appendix 4C - quarterly, page-23

From the graphs on the quarterly KYC transactions are growing at an average of 27.8% month on Month and Recurring transactions at 16%+ month on month growth.
By combining these two figures on a simple average basis we get nearly 22% month on month growth (this is an assumption and may not be correct).

Continuing on the existing growth path should result in ISX being cash flow positive (on a monthly basis) in March 18 with $1.5m in cash reserves remaining this is allowing for $100k increase in expenditure each quarter.
These are pretty rough figures, but based on these I don't believe ISX needs to do a Cap raise.

If growth explodes as @michaelhp believes it will then the cash flow positive result will be even faster.