Again based on revenue growth, 2nd quarter 2024 to 2nd quarter...

Again based on revenue growth, 2nd quarter 2024 to 2nd quarter 2025, the revenue grow from 2.3 to 3.3 million (about 50 per cent growth). Their quarterly expenses are around 7 million. By 2nd quarter 2026, the revenue should grow to 4.7 million. So next year, this time, they should still be running a deficit of 2.3 million per quarter.

Q3 2025 revenue 3.63 million, expenses 7 million, deficit of 3.4 million, cash: 14.3 million
Q4 2025 revenue 3.93 million, expenses 7 million deficit of 3 million, cash: 11.3 million
Q1 2026 revenue 4.32 million expenses 7 million deficit of 2.67 million, cash: 8.63 million
Q2 2026 revenue 4.75 million, expenses 7 million deficit of 2.25million, cash: 6.38 million
Q3 2026 revenue 5.225 million, expenses 7 million deficit of 1.78 million, cash: 4.6 million
Q4 2026 revenue 5.7475 million, expenses 7 million deficit of 1.25 million, cash: 3.35 million
Q1 2027 revenue 6.32 million, expenses 7 million deficit of 0.678 million, cash: 2.67 million
Q2 2027 revenue 6.952 million, expenses 7 million deficit of 0.048 million (around breakeven. Cash: 2.626 million

There is a few assumptions here: (positive)
1. No further R and D tax credit
3. The rate of growth stays even. It seems the rate of revenue growth is accelerating (revenue from 2023 to 2024, vs 2024 to 2025)

(negatively)
1. No increase in expenses
2. No big 'one-off' expenses.

Whatever it is, it will be a close.