$9m in cash at 31 Oct
Burning $1m a month
Estimated $6m as of 31 Dec, maybe less with all the hiring they've been doing
Approx 2 quarters of funds left,
Markets and SP tanking
No news in sight
I hope management are close to some kind of deal and that's why they have held off on the CR until now, otherwise the raise will be in the 20's, and to raise a meaningful amount with a $3m a quarter burn rate there is some serious dilution at those levels.
More hope than expectation at this point.
