Ann: Company Presentation, page-23

So every single cent that management has spent and is going to spend in the relatively near future, including performance rights and shares, everything, are derived entirely from investors. Yet somehow they own majority stake in the company purely based on their "aerospace expertise", the same thing that they are already well compensated for? Explain to me where the logic in that? As far as I know people need to remember that management has not expended a single cent of their own personal financial asset.

As far as I know Meir own multimodis, which I understand to be a management company. Meidad Pariente also owns a separate company, spacecialist and works with Maya Glickman. So if I am a billionaire and want to make my own nano sat constellation, technically I could go to them and get them to do things for me while I provide them with capital and pay them for their service. Technically also I should be owning majority shares in the company that culminates from the venture because I provide the entire capital needed. In SAS case, however, as far as I understand it, investors who provide all of the capital needed actually own minority shares...there is logical fallacy somewhere there.

Also if I am management of SAS then surely the best course of action would have to expend capital to actually build and launch first and then contracts, etc later. So why MoUs first???