Using the above numbers (Q2-ending cash/Q3 op ex/Q3 billings/bridge loan) requires $2.23m billings (not $1.0m) to arrive at actual Q3-ending cash of $334k.
My $2.23m billings equates to a Q3 burn of $2.92m...not exactly pretty so I acknowledge your point that the company did not have a great picture to show as far as billings, but still your billings estimate does not reconcile with the Q3-ending cash whereas mine more closely does.
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