I wish the board would outline the way forward re ongoing...

I wish the board would outline the way forward re ongoing funding.

Cash
Cash at the last Quarter was $9,363K.
Expected cash burn this quarter is $5,150K
Balance at end of current quarter will be $4,213K

Loan Details from the quarterly:

Silicon Valley Bank initial loan US$7.5m and Oxford Finance LLC initial loan US$7.5m, effective interest 9.5%,
secured by substantially all of the Group's assets, other than intellectual property.

To fund a quarters activity means they need to issue 51,500,000 shares at 10 cents (excluding costs).

If more equity can't be raised, it appears that the two lenders will acquire all the assets of the company.

Looks like D day is fast approaching,

Board please outline the strategy for ongoing funding.

DYOR