Dilution Calculation, page-41

There seems to be some confusion with whether CR would last till end of 2020 or 2021. Some people are saying 2020 while others are saying 2021.

Allow me to clarify with actual calculations.

Before CR:
net debt = $135m
operational expense = $25m per month

After CR:
managed to raise = $346m
operational expense = $12m per month (save $13m due to cost cutting, staff layoff, pay cut, etc)

Therefore 346 - 135 = $211m cash in the bank
211m divide by $12m monthly operational expense = 17

Therefore web can operate for the next 17 months with 0 revenue if needed. As CR was in April 2020, 17 months forward would take us to September 2021