Over the last 3 quarters, revenue has grown by an average of 7.5% (~$47,000) while operating expenses have grown by 8.3% ($75K). (Before interest)
Cash is dwindling and the hole that needs filling from all the cash not sent out is getting bigger and bigger. Losses are still close to $2M/ Year.
What happened with Horizon? Were they the cause of the customer claim?
Investors don't want empty promises.
In the words of the immortal Rod Tidwell... "show me the money" ...