Just had the old spreadsheet out. It seems to me that dubber...

Just had the old spreadsheet out. It seems to me that dubber won't need another CR this year unless growth drops below 15% per qtr, so they may not be worried about the extra cash from option conversion. Assuming we get more R&D grants and the december 2019 options are converted (60c conversion), there is probably no need to raise again even at 15% growth per qtr.

At 30% growth, there is no need for R&D grants or option conversion to avoid another CR. We will be cash flow + in 5 qtr at that rate. I feel this is conservative.

My numbers are rough and done by a layman so please don't rely on them.