I agree, I'm not convinced this is the case either.They had 600k...

I agree, I'm not convinced this is the case either.

They had 600k cash on 30 june.
They received 450k USD from ACAM in July. Let's say 600k AUD.
They are due for a 4th tranche from ACAM soon, let's say another 600k AUD.
In July they received about $450k in licensed fee revenue from their partners.
They have a cash burn of about 650k a quarter without taking into account ANY new revenue streams from Evolt and Bearn during September qtr. Let's multiply the cash expenses by 2 to budget for 31 Dec end.

Worst case scenario they should have about 1m cash in bank without a raise.

As stated, this is not taking into account any revenue from their live integrations which we cannot accurately forecast yet, so this is extremely conservative in my view and their balance should be significantly higher.

As Dorian mentioned, there is a good chance we achieve cashflow breakeven during December QTR.

I hope that was helpful and I'm sorry you were unable to acquire shares for a cheaper price Eric, however there's still a chance for you to start accumulating here ahead of the next 4C!