full year report analysis, page-5

Smuggler,

They had consumption of $2,015,407 for the full year.
Start of period cash on hand was $5,279,290.
End of period cash on hand was $3,263,883.

So at face value they have 18 months cash on hand.

I understand your point about cash flow lag but they do have ongoing and regular cash receipts from consultative services, and the revenue countdown from product does not start from today's activities. Revenue from product will arrive daily/weekly from work done and sales made periods ago

And while there may be a "lag" for cash from Product sales we need to understand that day one is not today