It would be a bad time to go back to the market for more cash.
THREE MONTHS ENDED MARCH 31, 2012
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD $ 8,420,509
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 5,561,884
Current liabilities of $626,483.
At this rate they will be out of cash by the end of the summer.
https://www.stockwatch.com/nocomp/newsit/newsit_sedardoc.aspx?docid=2656482