I think I see where you get the $9m figure. They have projected...

I think I see where you get the $9m figure. They have projected revenue of $9m this year.
Unfortunately this includes R&D non-operating revenue which probably won’t be repeated in the future as they reduce expenditure. 
Lets say $3m R&D, that leaves $6m actual operating revenue.
50% margin means $3m GP to cover $11m overheads ( $11m to be the effective annual expenditure in 3-6 months,  
so 2019 will actually be much higher)

They need more capital to continue, as auditor draws attention to. A lot more in my opinion.