Ann: Voluntary Suspension, page-23

I'm pretty sure the CDR and production commencement are essentially the same thing. SAS have already said that they have enough cash to get the first 20 into orbit and generating money in the second half of 2019. The funding question is not for that. The funding question is where does the other $30m come from to finish the constellation?

I'm pretty confident they will find it. And I'm pretty sure that when they do the TH announcement will make it clear we're talking about funding to completion. Or we're talking about another $15m SI/retail capital raise off the back of the initial Pearl launch.

I imagine they, and potential big investors, are waiting to see what the Pearls and share price do in the next six months.