What VTI requires to be cash flow positive

Ok so I have crunched some numbers at a basic level just to give an idea of what VTI will need to achieve to become cash flow positive. VTI will need another cap raise without question even with pretty strong quarter on quarter on growth.

For this scenario I have assumed:

1) VTI - keep outflows capped at $6m per quarter until cash flow positive
2) VTI - keep growing at 50% quarter on quarter

Any changes to the above assumptions will change when VTI will need to cap raise and how much they require before being self sustaining.

2018 - March Quarter - results
Receipts - $633k (was 50% higher than quarter prior)
Outflows - $5m (VTI notes next quarter outflows to be circa $6m)
Cash in bank - $12m (as reported)

2018 - June Quarter
Receipts - $1m (assumption that VTI keep growing 50% quarter on quarter)
Outflows - $6m
Cash in bank - $7m

2018 - September Quarter
Receipts - $1.4m
Outflows - $6m
Cash in bank - $2.4m

PLEASE NOTE: Assuming no major Plant and equipment costs come along prior to this point VTI will require a Capital raise between Sep - Dec 2018 at the latest.

2018 - December Quarter
Receipts - $2m
Outflows - S6m
Cash in bank - negative -$1.5m (requirement to cap raise)

2019 - March Quarter
Receipts - $3m
Outflows - $6m - (may be more as there will be a cost of conducting a cap raise)
Cash in bank - $4.5m ($6m cap raise during Sep to Dec minus -1.5m in Dec Quarter)

2019 - June Quarter
Receipts - $4.5m
Outflows - $6m
Cash in bank - $3m

2019 - Sep Quarter
Receipts - $6m
Outflows - $6m
Cash in bank - $3m - CASH FLOW NEUTRAL


As any changes occur quarter on quarter you can adapt the numbers above accordingly.

I personally wouldn't buy this one until next cap raise (due to dilution) and until further evidence that VTI can keep achieving circa 50% quarter on quarter growth.