Ann: Reinstatement to Official Quotation, page-23

They generate around $1M per quarter but burn more than $3M. Increase of 20% revenue next year can't sustain the current cash burning. They need to save at least 40%-50% of operating expenses moving forward to stay in the game.
If they use the new capital to pay off it's debt then they don' have enough $$$ to last for another quarter.
share price looks cheap but it took them so long to raise this little money show some signs of concerns.