I don't think you understand the concept of a loan. they would have to pay it back - and quickly - it is not the same as revenue.
I also don't think you understand the concept of a $500k contract. it usually isn't all paid upfront, and there are definitely costs to fulfil obligations related to the contract (usually at least 50%)
Operational risks aside (loan is pulled, client pays on time, UUV delivers, production goes to plan) the company will need to raise another $500k to have $0 left at the end of June (and its loan paid off), which means it needs to really raise $750k between now and then (and some of it in the next 6-8 weeks if not sooner). And you need 1-1.5 months of expenses sitting in the bank at any moment before you start a CR.
This is dire straits/a bad investment. It's time to stop pretending like everything is OK. I don't think any savvy investor is going to cut them that kind of check (maaaaaaybe at 0.2c a share) with their cost profile. Who the new VP is married too doesn't really solve UUV problems.
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