It'll be interesting to see. $20,000,000 only funds about 5 months worth of expenses. Seems like it could mean one of a few things, including:
NEGATIVE 1. They couldn't get any more money than this and are hoping to get some kind of break-through in funding from another source....if not, they are in trouble.
POSITIVE 2. Their sales are improving to the point that they will have enough cash flow in a few quarters. 3. They have said in past conference calls that private placements will be only one part of the fund-raising strategy, so perhaps a partnership or some other revenue is coming.