Toro...Burnrate
I appreciate your calculations, but I question why the burn rate will be increasing at such a fast pace. I know they need to stay ahead of others, but this is a highly profitably business. Are you planning on them giving out huge bonuses and large salary increases?
A burn rate of over 6mm/q will be hard to justify without substantial revenue increases and large net revenue.
Just my thoughts
1260
Remember, draining the swamp to get rid of alligators, will stir up the snakes.