Ann: Appointment of Independent Non-Executive Director, page-70

That is some of the most inept blend of mathematics and market principle I have ever seen....

@Periculum, I think you are absolutely right. When Di Fulton became an independent non-executive director of SAS I believe it becomes highly improbable if not downright impossible for coinvest to direct any funds at all towards SAS instead of the other way around like some people here want to think. I believe this, because of how her performance package is set up by SAS and how she would directly benefit from it receiving funds all the while still being employed in coinvest. I believe, based on my understanding, if coinvest is involved in any funding arrangement for SAS within that context then that may allude to a criminal conduct of sort perhaps in the category of insider trading or corporate corruption or whatever. For that reason then I think people's hope in coinvest contributing to funding for SAS is very misplaced. That is just my personal understanding of the whole thing but I think it is compellingly logical.

As for funds from institutional investors;

Based on my calculation, under the assumption that the pearls have operational life of maximum 5-7 years, then SAS would need around 63 to 80 million in 2019 if they want to get the constellation up of 200 within 5 years. That is for around 68 satellites a year, the number of which I believe, by way of basic mathematic, is non-negotiable.

You can find the detail of my calculation here:

https://hotcopper.com.au/threads/an...4561781/page-25?post_id=36729655#.XAd7CB4_UwA

That 63-80 million is a very major portion of current market cap of around 100 million. By current SP of 6 cents that is equivalent to 1 billion to 1.333 billion shares...by my understanding current number of shares is 1.8 billion plus around 480 million with a total number of 2.28 billion shares. Absolutely insane.

So it is very unlikely with that much of leverage that interested parties would buy shares without massive discounts. Last CR was done at around ~25 percent discount so if we assume the same happen this time then we are talking 4.5 cents per share. So 63-80 million would mean 1.4 to 1.8 billion shares....that is absolutely insane.

All in my opinion, based on my understanding and comprehension, please do your own research.