Well some glimmers of hope in there.First off cash receipts...

Well some glimmers of hope in there.

First off cash receipts weren't reflective of the quarter and should be $0.4-0.5m higher, with most of this having been received in January. Also expenses were a little higher as well with an extra payroll during the quarter.
So net cash outflows overall should have been lower - this is important as it also means the ending cash/loan balance technically should hold out abit longer than the 3.4 quarters noted in note 8.5 in the 4c.

The Delocol product could be interesting if a multi year deal is signed especially if they disclose potential revenue.
"We will announce the finalization of the contract, along with forecasted revenues upon its execution."

The military also has got a solid kick along and sounding a little more hopeful, but they can be notoriously slow as well and this will still be a long process. 2 branches of the military is promising and "a viable full-scale option for military personnel" ... does that mean jacket and pants?

However Alexium still need to get to a cash flow positive state on a continuous basis asap - they must conserve what little cash they have as this year could still have some hiccups with the economy.

Further funding too will have to come at some stage (perhaps next year?), they simply have too much debt - hopefully they can last until something pops in the military - but if it does I suspect the US DoD will want a strong balance sheet and real cash reserves - so this could mean not only paying back Colintons, but also having perhaps a further $5m or more in cash - hopefully this should happen at a higher share-price than where they are today - if sales build and the military signs on - perhaps they may even awaken the interest then of a US based venture capitalist or investment fund