ISPRO...I'm really surprised by your last post. We have to keep our collective eyes on the big picture..... 1) Size of the installed base of TPMs 2) "EVENTUAL" roll out of Seagates FDE hard drives 3) Intel's coming out party regarding TPMs in their new chip that will be in mass production this year. 4) Federal government commitment to TPMs and FDEs
These things are to be seen through the front windshield instead of looking back through the rearview mirror...imho
ISPRO, one thing that I didn’t do was turn the cash usage estimates around to make revenue estimates, as I couldn’t put more effort into it at this point.
But just back-of-the-envelope for Q2, if you use $7.5 million opex (same as Q1) with about $0.5 million in non-cash expenses, it would take about $2.5 million to produce a cash shortfall of $4.8 million.
Also, FWIW, if they had raised, say, $1.4 million in the May PP they probably would have used the same change in language to explain how far cash on hand could take them (from “into June” to “into July”.) That would have implied a $4.2 million shortfall for Q2. $1.3 would have implied $3.9. Also, who knows, maybe “into July” meant further into the month of July than “into June” meant into the month of June.
(One of the things that took so long in composing the post was all these little ins and outs, and whether to mention them at all, and how much weight to give them.)