It's $17.5M in cash and cash equivalents. $5M of which is already borrowed from their $10M debt facility. So currently it is $12.5M + $5M in borrowings. They can borrow a further $5M, in which case they would still have $12.5M in cash and $10M in borrowings.
Either way they only have $12.5M and considerable debt which needs to be serviced and repaid.
The average cash burn per month is $1.2M (i.e. 12.5 / 1.2 = 10 months) and after that they will be unable to service their debts.
But on top of this they have regularly incurred a wide range of one-off costs and it is not realistic to expect that they will suddenly stop incurring ANY of these types of costs whatsoever. So while it may not be $2.3M per month it will likely be higher than $1.2M per month.
People are talking about CR because all the projections and financials are optimistic (and also not really transparent since they buy the fact that part of their cash balance is debt), and the company has not really earned the right to this optimistic trust from investors.
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