2.9 quarters of funding left, as stated in October last year, is...

2.9 quarters of funding left, as stated in October last year, is not much indeed.

Then this happened:
- They divested the US business (December), one off cost of $0.5 million, but will improve EBITDA and gross margins overtime
- Made a payment to Optima, assuming half of $1.34 million for the first tranche, so $0.65 m (January)

In October they had approx $11.5 million left in the bank. Now let’s do so napkin math, it is going to be terrible but worth doing, starting by removing all the cost: $11.5 m - $0.5 m - $0.65 m = $10.35 m. Assuming a quarter now cost $2.9m after divesting the US business, $10.35 m - $2.9m = $7.45 m. Conclusion from a terrible napkin math: there is a good chance to see a CR soon, unless some amazing growth is starting to emerge from the UK.