Our reported sales figures have gone from 10k to 181k to 383k...

Our reported sales figures have gone from 10k to 181k to 383k over the last 3 quarters (and the last quarter saw an above average monsoon season), so I think it would be fair enough to assume they would continue on the upward slope this quarter.
We had $3.8m in the bank as at 31 December, less $2.3m PROJECTED outgoings, leaves $1.5m. Let's say for arguments sake that we makes sales of $1m this quarter. That would leave us with $2.5m in cash going into what could potentially be our first break even quarter, being quarter ending 30 June.
I don't think any of my reasoning is "outlandish", and may even say my $1m sales figure might be conservative. We might possibly be selling our 15000 rpm, who knows (because they are only making sales announcements quarterly don't forget). Either way, I can't see a CR any time in the near future, and may possibly never see one again.
You can argue all you want with my points of view, I don't give a fat rats clacker. Since I have been a sh of NSL (20 months now), we have seen at least half a dozen people like you come onto HC, make a fool of yourself, then never be heard of again. The reason being, NSL just keeps making those little steps forward that proves you naysayers wrong. So you are just obviously trying to move the sp down a few pips so you can get in at a low price yourself.
And by the way, IMO only, I believe Xinhai will finance Phase 3, so we won't need to outlay any cash up front, or not much anyway.