Over the last 6 months, they burnt $2,747,422. Looks like they...

Over the last 6 months, they burnt $2,747,422. Looks like they used about $148,445 to set up shop in the UK (see annual report page 8) & the November cap raise cost them $300k.
Going back to their initial raise of $4.6m in Feb/March last year - below is DUB's cash position after each quarter:
IPO Feb15 $4,600,000
30.3.15 cash on hand $3,106,000
30.6.15 cash on hand $1,697,000
30.9.15 cash on hand $ 469,000
31.12.15 cash on hand $4,239,000 ($5.7m raised less costs of $300k) total $5,4m
Jan 16 R&D refund $1,300,000
Cash burn for Mar qtr -$1,373,000
Bank revenue $500,000
30.3.15 cash on hand $4,666,000

I'll assume the above is best case scenario & will allow for a further $600k burn or if Bank revenue has not been received, that still leave DUB with a healthy balance of $4m

* Voice Factory end users connected in DEC qtr, so we may see a little revenue in current qtr
* BluIP end user will be connected in Q1-2016 so revenue should kick in next quarter
* Macquarie Telecom pilot commenced in Feb (ends in April) - could see revenue commence in July (or sooner) if wholesale agreement is signed
*Siphon Networks - who know's, anything here will be a huge bonus
http://www.siphonnetworks.com/news50.php
* Singapore Telco - $50,000 minimum monthly revenue commencing Q3 this year
* MyNetFone - service will be available in Q2 2016 and is expected to significantly drive user numbers and Dubber revenue immediately
*Subscriber numbers as at 31.3.15 - who know's, lol.....could be 10,000+

Anyway, if DUB have $4m as at March, then assuming another $1.377m cash burn for the next qtr, they'll go into the June/Jul with over $2m in the kitty & I'm not even counting the remaining bank revenue.

If they do decide however to raise as you have mentioned, it will go straight into safe hands (Gandel + Thorney) & not Insto's & probably a max of $2m.

Who know's, they may even be in a position to borrow $$$ but I wont certainly be worried about raising then because we will have a major UK telco signed up VERY VERY soon. The game changer for DUBBER!