Both the quarterly and the webinar actually provide a lot more...

Both the quarterly and the webinar actually provide a lot more detail which is helpful to determine where the business is sitting:

• Was confirmed that Spenda must front up 10-20% of the debt warehouse (DW) as first-loss equity. As they have currently utilised $11.0M of the DW, anywhere from $1.1M to $2.2M of cash is tied up and cannot be used for working costs
• Based on quarterly, at 31/3 they only have $4.7M in cash/cash equivalents. This is higher than 31/12, when it was $4.3M. Why? Quarterly reveals that they reduced 'balance sheet funded loans' by 50%, from $4.6M to $2.3M
• This resulted in bringing a total of $2.2M cash back onto the balance sheet (shown in box 4 of the cashflow statement). Without that cash inflow, due to another quarterly cash outflow of ($1.8M), they would have been down to $2.5M cash (1.3 quarters!)
• Good news here: they still have another $2.3M of balance-sheet funded loans to bring back, so that might delay the capital raise. It helps explain why he can get away with saying: "if we were going to raise capital the purpose would be for growth and only for that growth"
• Aside from bringing back those balance sheet funded loans, they'd be in big strife. Their working costs are reducing a small cash pile very quickly, so aside from repatriating those funds, they need to raise cash just to stay solvent. In the last quarter alone they spent $1,218,000 in staff costs (!). Stuff like this will have to change rapidly if they don't grow the cash receipts. However he keeps playing down the importance of cash receipts as a metric, which suggests he isn't confident about them - big worry
• Quarterly also confirmed that by June they want to "draw a minimum of $20M in funds from the debt warehouse". Based on their 10-20% first loss equity requirements, this will tie up anywhere from $2.0M to $4.0M in cash that cannot be spent. I suspect they will be repatriating that remaining $2.3M in cash very quickly (if not done already), and then will have to raise after that.

I agree with @CDO22, this is an exciting business to follow. I've seen few like it, if you know what I mean...