No idea where you get $18m earn out from?? The cash component of...

No idea where you get $18m earn out from?? The cash component of the two-year CYCL earn out is $3.3m (that’s the 25% cash, the remaining 75% of the earn out is shares not cash) and only $0.7m is potentially (they may not hit the required earn out targets) payable in Q1 calendar 2021 with the balance of $2.6m not payable (and only if revenue targets are met) until Q1 calendar 2022. Taking into account the recent legal settlement, the company’s cash balance should be around $24m-$25m and pretty steady at that level in view of it being close to cashflow breakeven.
No chance of a capital raising any time in the near future IMO unless it’s for an acquisition which I think is unlikely.