Colby's Response to STX Offer, page-232

Those are huge assumptions you are making dabble.
Regarding your repeated statements about the $6 million being needed for transaction costs (i.e. contingent on the SOA moving forward), Talon's own announcement explicitly says:

Regarding TMK's cash levels (i.e. $6 million), you can't look at those, then estimate, say, $4million for TMK's contribution (leaving $2 million working capital), and then assume TPD's contribution is $2 million (i.e. half of TMK's given TPD own 33%). That's wishful thinking at best.

All we know is that TPD had $9 million at the end of June (with possibly a lot of expenditure being deferred to July 1 to push it into the next quarterly). This is my own speculation of course, but aligns with STX decision to walk away after TPD's quarterly was released and doing there own due diligence.

We also know that TPD wanted that line of credit as part of the deal.

I don't think TPD's cash position is as bad as STX want us to believe, but I think it's fair to assume we are going to need capital raised (or secure debt) in the current quarter (and prior to Walyering coming online).