It would appear to me that you have made quite a significant error in the way you have interpreted the figures.
Spend per quarter is the difference between incomings and outgoings.
Q3 incomings I suggested: $1,600,000 receipts.
Q3 outgoings I suggested: $1,987,000 (their estimate of $1,787,000 plus $100k more for ads and $100k more for staff due to a ramp up).
That means a spend in Q3 of around $400k ($1,987,000 - $1,600,000) Not your figure of $2m!
Q2 spend was only just over $100,000 according to the 4C - how can you think it will jump to $2m spend for Q3?
Given they start Q3 with $1.3m cash + $1.5m CR = $2.8m. They have enough for quite a few qtrs of $400k spend.
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