Ann: Business and Guidance Update, page-4

what do you think of the cash balance? I thought an extra 8m was raised above the cash payable for the acquisition. and with arohnd 4.5m at the beginning of the year plus the extra 8m raised means if they were cash breakeven since then should have around 12m but it's only 7.6m.

It suggests to me they've burned quite a bit, unless I am wrong somewhere here.