If we go back and look at the latest quarterly, they had:$1.7m...

If we go back and look at the latest quarterly, they had:

• $1.7m cash used in operating activities
• $1.4m remaining, which allowed funding for just less than a quarter
• Collected $1.8m in the July month
• Expecting further delayed cash receipts to resolve in coming quarters...

If I take last bullet point with a grain of salt, they do have $1.4 + $1.8m = $3.2m cash available. This should be sufficient to fund the current quarter, and at least in to the next, so raising cash just to keep the lights on doesn't appear to be at the point of extreme urgency.

I expect this will be accompanied by a growth strategy, or the realisation of being under capacity to deliver on existing or new contracts.