Perspective, page-17

Nice one Annies!
You know what i think is more unrealistic is your assumption that the full 200 satellites will be funded solely through dilutive CRs.
If you have done your research, you would know that the first 20 odd nanos are expected to fund the operational costs of the company going forward. You would also know that the first 50 or 60 nanos are expected to self fund the remainder of the constellation to be commercially in use.
So as I say (again), funding the entire constellation via CRs is at the upper end of the 'unrealistic' scale.
You mention that funding should have come by now....
I have been thinking that if I (theoretically) had deep pockets to fund the constellation, I would have certain conditions that would need to be satisfied before I part with my money, that being....
1. Is the narrowband demand (M2M / IOT) a growing market?
Yes - it is destined to be a multi-billion / trillion dollar industry over the coming years.
2. Has the technology of the Diamonds been proven?
Undeniably, it has been.
3. Is there an apetite for SAS's proposed services?
Absolutely Yes - the MOUs which many downrampers claim are worthless are actually a ticket saying "i want to use your services when they are available". As of now, SAS has secured between 45-60 million in contracts, which is only expected to grow.
4. Is my capital secured against any unforseen risk?
Perhaps there is a dependency on the insurance being finalised before funding is secured. Insurance does not mean that any investment is fail-safe, but it would mitigate some risk should an unforseen event occur.
Personally, I wouldn't part with any money until insurance was secured and my name was on the insurance certificate. (A bit like your bank being an interested party listed on the Certificate of Insurance for your insured home, if you have a mortgage)
5. Are the Pearls working as expected, with growing revenues.
Well its too early to say at the moment. However any conservative investors considering to fund the constellation may be looking for evidence that the Pearls are working to specification, and generating growing revenues. Therefore they may be waiting for SAS to fund the 1st batch (via a CR if necessary), then fund the constellation if expectations are met.

All my opinion.