Last 4C had $772K in the bank
Estimated net cash outflows until the end of June $1194K
That would suggest that by the end of May they had (about) minus 24K in the bank
They have just raised ~ $2M
At the end of June they will have around $1.7M in the bank. Bootstrapping springs to mind.
Whoever audits the annual accounts is going to be very careful with their wording...
Ann: Change in substantial holding, page-20
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