Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-5

I agree, the 0.9 quarters of funding is a big concern. But as you pointed out, the company has the potential to borrow against the R&D refund. The company also states that "the end of the US FDA clinical trials and technology upgrades will result in reduced cash outflows. In the September quarter, $552,000 was paid for FDA de Novo clearance trial and data analysis, that work is now complete".

I'm mentally prepared for one more capital raising to fund the pivot to commercial operation. If it includes a share purchase plan I will probably participate.