We also know that Wave has deferred most of BP (say $1.6m) whereas the deferred revenue balance increased by $0.8m. So that means the remaining deferred revenue balance decreased by around $0.8m.
We also think around $0.3m in warrants were due to be redeemed.
So I have a net outflow of around $1.1m to explain.
I also don't know what that $4m royalty liability is. Presumably is a Safend thing.