Quarterly loss, page-13

AJX's various turnover rates are around the 1.7x mark, meaning that there's a lag of at least a quarter or two between expenditure and revenues, so you are better off looking at the actual manufacturing cash outlays from the last 4c (or even the one before) than their expected manufacturing outlays to predict the next quarter's revenue. Last quarters were just over $1 mil.

Then their average gross margin from last annual report was closer to 30%, so we might expect cash revenues of about $1.43 mil. I wouldn't expect that next 4c would be CFP either.

(Also, even if you were using gpm of 40% and manufacturing costs of $1.745 mil then your manufacturing costs should be 60% of the revenue - so you should be getting revenue around $2.91 mil in your calcs there wolf, so would be CFN using your assumptions too)