Pretty big loss for very little revenue. However, half of the loss was from making payments through share issues so the annual cash-burn is about $6m which is not that bad. So they probably have about 2 quarters max before the next capital raising. Perhaps they might contain their costs a bit as they have suggested.
The concern of course is the top-line income which is minimal at $750,000 for a full year. By way of comparison this is a similar gross turnover that a small business might do (e.g. your local Subway store or restaurant). They are a long way from having a viable commercial business at this point!
However, if they can hang on financially they might just get their as the growth in revenue is pretty fast.
This remains a high risk enterprise.
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