I think you're right re cash burn and the language used.Also with regards the use of funds today they stated ... "including acceleration of work being performed at imec and HGST".With the additional wafers we know that endurance increased 2 to 3 times from the last announcement with HGST involvement and imec.There was also the stated (potential) upside that actual endurance may be significantly higher, but requires further lab time & equipment capacity.There's also the upper limits of retention that still needs to be defined.So we now have three teams from within the ecosystem working closer together than ever before, which not only validates each partner, but it may have led to some of the comments like "a giant step closer" etc etc.Using some of the funds for maintenance of granted patents may also point to fine tuning of the IP as 4DS learns along the way and gets closer to an outcome(s).Still there's 9 patent applications pending/filed, so that too would cost and needs to be packaged up with the already granted patents.So it's quite possible that the cash burn is on the cusp of increasing in conjunction with the developments.
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I think you're right re cash burn and the language used.Also...
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