Ann: Reinstatement to Official Quotation, page-62

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22/02/19

12:17

Post #: 37530371
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Originally posted by toss31: ↑

Meir needs to restore confidence in shareholders. They need more money to pay virgin for launch of the pearls and that they need within 2/3 months. I highly doubt any bank will provide any loan. So what needs to be done

First, Cut the cost for the business. 80 employee is too much for a startup. Gomspace is building pearls, Virgin will launch. What the hell 80 people doing anyway. I think he builds a big sales team to sign all those mou. Signing mou in 5 countries at same time. He needs to let them go. Once the satellites are launched and the product is ready to sale he can hire again. cut any unnecessary cost. Let the shareholders know that no money is wasted.
Second, Meir and all the directors stop taking any payment until 50 satellite is launched and the company is earning meaningful revenue. This will send strong message to shareholder that they are very serious about the business.

So, The directors are participating in cash raise, they are not taking any payment as business is bleeding cash very fast, and cutting unnecessary cost will restore the confidence of investor and shareholders. Meir needs to show that he cares about shareholder rather than taking hefty salary and perks.

Come on Meir. Such good concept, good technology and chance to be great global company. Don't Ruin it.

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Know that the price is ridiculous but we now have funding for the first set of pearls to make it to space. 51 million units sold in 2 hrs. Also 51 million units bought in 2hrs......

SAS Price at posting: 3.1¢ Sentiment: Hold Disclosure: Held
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