[Cryptech Core] CrypTech funding situation

[Phil Roberts]

I want to give you a heads up and let you know that the funding situation for CrypTech is getting critical.  At the end of March the balance is slightly below 37,000 euros.  Invoices were paid in mid-March and that is reflected.  There might be a couple of outstanding invoices, so it may be less.  The run rate has been slightly less than 20k euros per month over the last 6 months which tells me that at the current pace we're probably good for April, but not all the way through May.

Here is what I know about the prospects of money coming in during the nearterm.  The business team continues to work on fundraising with various folks pursuing diverse channels.  We welcome any leads any of you might have and will them up.
- we have a proposal in to H2020 that we received positive feedback on.  I believe it is for 50k euros.  We do not have a timeline for when we will be notified or when the money will come in.  Will let you know as soon as we do.
- there will be another proposal like that at the end of the month, and their timeline is 3 months to figure out who gets it
- there will be a proposal in to RIPE in May, and their timeline is about 1 month, then they will give the awards out in chunks
- we are revisiting all our past industrial supporters.  I think it's likely we will get some, but I don't know the timeline.  It's possible one of these will turn around quickly enough that we won't hit zero, but I don't yet know how likely that is.

Rob suggested that it's a decision from core about how to prioritize work and spending with funding getting low.  So, that's the situation.

Regards,
Phil