I agree that they could have spent their money better. Also, they better prove something soon or the company will be in bigger trouble than they are now. However, the $20 million number seems high. The Cash Flow statements from 2014-2017 from the 10-K's show proceeds from stock sales and debt issuance is $9.7 million. $4.1 million of that amount was back in 2015.
That is still a lot of money spent to develop a demo that is not in production.
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