Looking at their 4c, it appears that they have no overdraft/debt facility. I suspect that it would be better to secure this now when they still have a reasonable amount of funds rather than trying to secure something when they get to a cash crunch (will be cheaper to negotiate now).
It still raises the question of what their true cash burn really is.....if its only 1.5m per quarter (with say a flex of +/-3m timing of payments/receipts) then the 10m cash they have on hand should be more than sufficient. I suspect that over and above the cash used for operations, there is probably a further 8-10m spend on capital (Research, PP&E etc) so this provides a buffer until the price recovers at which point you can expect another CR......unless they actually start making some money
Looking at their 4c, it appears that they have no overdraft/debt...
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