As@asx11 points out, the previous announcement, the company has $29m, based on the SPP, but excluding the money they have burned between then and now.
They did spend $9.5m per quarter, and they used to bring in in revenue of $1.9m per quarter, as per the 28th Feb announcement. So $9.5m -1.9m= $7.6m cash burn per quarter as of 31st Dec.
So $29m- $7.6m for the cash burn of the last quarter = $21.4m in cash right now, approximately. Remember this figure.
They said they have reduced their annual cash burn by $6m per year, so $9.5m x 4 quarters = $38m spending per year. - $6m savings = $32m spending per year from now until they tell us otherwise.
$32m - ($1.9m revenue x 4 quarter) = $24.5m cash burn over 12 months.
(I hope I'm getting this right, tell me if I'm not!)
So, based on them not increasing revenue at all over the next 12 months, which is unlikely, and them not saving more cash, which is unlikely as they said they are going to do another round of savings, $24.5m divided by 12 months = $2,041,666 of cash burn per month
$21.4m in cash (mentioned above) divided by $2,041,666 = 10.48 months of runway - based on no additional revenue or grants, and no further savings made.
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