Burn intensity (operating drain)
med
Financing top-ups (June raise + more)
low
Recovery branch
Review open
Exhaustion branch
monthly drain ~1.9M
the clock is running on ~8.7M of cash
Cash runway waterfall: burn, June raise, reverse split, and strategic-alternatives branch
~8.7M start
empty
Cash reservoir
FY2027 opening cash
going-concern
already tripped
June 2026 raise
shares + warrants
dilutive top-up
Share price < min bid
reverse split proposed
protects listing through review
burn ~22.7M/yr
Aug 2026 strategic review
sale · merger · raise · go-private
Recovery path
backlog to revenue
and burn falls
recovery path
recognized revenue
dilutive
Exhaustion path
cash clock runs out
raise or sale / go-private