Based on theirPreliminary Final Report the math has changed...

Based on theirPreliminary Final Report the math has changed significantly since DUB listed. Their per user revenue is significantly less than their project $10 p/user per month ($120 p/year).

Earlier in the year they stated 13,000 paying users. But they generated only $510K this FYR, this averages out to $39 per user per year.. ($510,000 divided by 13,000 users)

Is my math right?
Note. $1.459M of the $1.969M revenue was from R&D Grant, not user generated revenue. (See Page 3 Preliminary Final Report - line item 9a)

If this math is right, then:
- Current cash-burn is Approx. $10M per year
- At $39 p/year they need 256,410 users to break even.

Currently they have 13,000 users.

Could they onboard 243,410 more users in the next 24 months?
This is the $6-10M CR question.

If my math is wrong, and they really are getting $10 per user per month = $120 per year, then their previous announcement of 13,000 users must be incorrect.

But I don't think the math is wrong? $510K / 13,000 users = $39 per user per year.