withdrawal of consolidation, page-40

799k cash but ~350k debt
Burning ~350k a month. (didn't they tell us in Q3 that they were a break even operation??)

In terms of cutting costs.... most of the expenses are (obscene) exec salaries. So cuts wont happen. Their history tells us that the structure of their deals is such that revenue dribbles in.

Now we know why the need a rash capital raising!

Did I see them suggest that they are going to used the refreshed 15% to raise $500k. Who would be silly enough?