Quick math - at roughly .001, including the 5% discount to White Lion, and assuming all convertible notes are captured in the currently posted OS - 4.9b or the remaining AS.
As for what they use the cash for and how fast it is utilized, your guess is as good as mine. Could be amazing. Competency arguments about management are misguided in my opinion. Intent is certainly debatable.
I also recommend everyone to read thru the details of the link provided in the message I'm replying to, together with the following link to my post, where I analize in detail that filing, and decide if you agree with the facts I'm giving there or the speculation provided in the post I'm replying to.