This is true, however it's not the whole story. I think in their...

This is true, however it's not the whole story. I think in their calculations they would have considered a margin of error of non-exercised calls.

The majority of the reassurance comes from the explanation of:
1. Reaching peak costs as a company and their outgoings are now decreasing,
2. Unrealised cash from a 90 day invoice payment terms now and moving forward, meaning no wins over the past 100 days are showing, and no wins in the next 100 days will show for 200 days.
3. There are future scanning locations yet to be announced,
4. The ATM in place for smaller adhoc costs.
5. CT:VQ and the DoD
6. The strategy for the VA (in the current DOGE climate) - wait until things simmer down, but they are still very much in the game here.
7. The work that Philips is doing
8. Australian marketing growing and not shrinking.
And more

It's worth listening to the call.

I certainly wouldn't bet my house on that they will never ever do a CR again, however everything explained on the call does fill me with more confidence that my decision to participate by $30k was the correct decision and they should be pretty close to break even with their current resources and the likelihood that the future opportunities will come to fruition.

It's gone from a shit sandwich two weeks ago, to a modest ham sandwich now.