At this price the 20 million options that expire in December will not convert. Thus the company will not get the $2.2m from these conversions.
My review of the Sept 4C and estimate of the Dec one has
Current cash $3.564 (per Sept 4C)
Est cash in $0.900 (assuming that there is a delay 60 day in cash receipts from actual invoice so we will still have decent receipts)
Est cash out $1.873 (per Sept 4C)Est Closing cash $2.591m
Based on this if the company does not increase user numbers it will need to raise capital again next year.
