How long will the money from the latest CR last?

ESH had a CR in May 2019 which yielded about 3Million (2.7Mill after costs) however have had to go to market again in December 2019 for a further just under 4Mill (3.97). The question is how long will this money last if there isn't a huge increase to the income received?

What information do we know?
- 1.9Mill in the bank starting from Q3
- expected Q4 costs of 990K (330K per month)

Costs for CR in May was roughly 10% of the amount raised. Raised 3 Mill , received 2.7Mill , 0.3Mill CR costs lets call it.
Lets assume similar 10% CR costs for the 3.97 Mill = 0.397 which assumed that ESH receive 3.57m

Combine 3.57 expected to receive with money in the bank 1.9 = 5.47 Money in the bank.

Assumption
- Lets assume ESH is earning 30K per quarter (10K per month which is more than its largest quarter to date)
- Lets assume that the costs continue at the same 330K per month (even though they are likely to increase)

Found a nice little calculator online where you just put in the money you have (5.47Mil) versus monthly income (10K) and monthly expenses (330K). The answer comes back as just over 16 months. If October 2019 was month 1 then month 16 is January 2021.


Not financial advice .. just calculations based on what we know with assumptions listed at the top.