Success = F(#Iterations)
#Iterations = Runway / Speed of each iteration
Runway = Cash on hand / Burn rate
Then things are looking quite good for this team if they can continue to build, validate, and iterate this quickly with the new project they are pursuing (Assuming they didn't spend their Start Fund money on hookers and blow in the past 9 days).
[1] http://www.startuplessonslearned.com/2009/03/cash-is-not-kin...