You have made several assumptions.
Based on Q3 Cashflow statements, the net cash outflow is about $1m for the Q3 (three months). This is not forgetting that they have $0.7m of cash generated from operations for Q3.
You mentioned that the company is unable to find buyer for its assets. Pls refer to Management comments in the Q3 financial statement (ended 30 September 2018) which states the following:
During the quarter ended 30 September 2018, the Group acquired a 5000 DWT oil product tanker Angel Sun, measuring approximately 101.55 metres by 15.3 metres which is used for marine fuel trade. The vessel has been sold in the fourth quarter of the year for a profit.