You're not wrong.
"The Group’s cash at bank was $7,920,989 as at 31 December 2017."
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01942746
As of March 31st 2018 it's $4.937 million.
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01974070
I like the product but the company has a lot of work to do.