$4.8 mil - $3.1 is actually a cash burn rate of $1.7 mil per quarter not $1.8. This comes straight out of the last quarterly report. It would be safe to assume that given they have since the last quarter started a monetisation of the system the cash burn rate would be reduced in the current quarter from that $1.7 mil. So a CR might be a little further off then you think but will still most probably need one before they become cash flow positive.
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