Back of the envelope (apologies for repeating some info from above) looking at next quarter:
* 400K revenue.
* Cash burn 2.3m - worst case - surely RnD spend won't be as high.
* Leaves us with 1.5m at the end of the quarter.
Let's assume they sign 2 more tier 1 clients this Q - Ratty wants those performance rights - delivering additional monthly subscription fees of $20K US per month combined conservatively.
That gets us an additional 90Kish revenue in Q1 2020.
There is a decent funding shortfall in that scenario and they will need to raise capital. I still believe McConnell will rip more money in but there's no doubt we'll need to see several more contracts to be sustainable.
I love this business though and am confident we'll go Bang!
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