My GUESS...Is the reason the Company may not immediately need cash is:
Q3 is probably their strongest order processing quarter and eventually strongest shipping Quarter for the pre holiday and holiday shipping season leading off with Black Friday in November!
The pre orders would likely be coming from Oculus and Vive customer base as I believe they had combined shipment of about 500,000 units in Q3 of 2018. Sony had 500,000 units ship by themselves in Q3 of 2018 for their VR console unit.( no Sony this year for Sev)
If so, that could provide the Company with about $2.5 million in revenue if they did indeed ship these orders in Q3 and they received $5 per unit x 500,000 units of orders for the quarter.
Not sure if they get 50% up front from their customers and then 50% payment upon delivery of the goods?
Of course, they probably also must pay 50% down to their manufacturing partner and 50% when their partner ships complete!
This is pure speculation on my part, but might offer some possible insight as to how the company could survive financially until their funding strategy becomes completed !
Again, all of the above is nothing more than my opinion and is provided for discussion purposes among board members only....
Still a very very long road ahead !!!