Fast Forward 2 years......., page-131

Launch Costs - you are assuming that SAS have committed and are utterly locked into only using Virgin one, AND that the commercial deal they made cost 10 to 12Mil USD without any proof of either. MM has openly stated that they will not lock into any one supplier, and that future launches will be based on best current price, capacity and performance. So aside from you pulling 10-12 million from wikipedea or where- ever you you could find it..... here are some of the current facts on launch costs they could get.
Here is a table from spaceflight:
They are BY NO MEANS ANYWHERE NEAR THE CHEAPEST.





So - they are 8,000,000 USD for 300kg, but offer much larger options.
Falcon 9 - is currently down to ~ 2,800 USD per kg. That would be $840,000 per launch of 300kg payload.
even if they booked a 3,000 kg payload..... it would still be under your supposed virgin orbit cost figure.
Wildly assuming what SAS is actually paying virgin without any proof, and then assuming they would stay with them at your concluded price of US 40,000 / kg..... will never happen.

Sat costs - Happy to agree with you, but accept that the 1,000,000 per sat could be probably + / - X%. They are mass producing so should be a lot cheaper than 3 diamonds in a lot of area - component bulk purchase , speed of assembly on maturing production lines.....
If 50 sats cost - 50 million USD,
and weight for 3 launches 900kg total

Then launch costs could be anywhere from falcon 9 ballpark via rideshare ( 2.6 million USD )
To Space flight figure ( 24 million USD )
To Annies figure ( 32.5 million UDS )
And will most definitely reduce with time due to oversupply.

So - yes your thinking of how you genuinely believe they will run the business would be impossible and mind boggling in your own words.... reads like a good fantasy though.

Where is the money coming from...... well if the top two signed deals are as displayed, and all of those " Agreements signed" change to dollar values in addition to the $10-12M AUD....... you can come up with some other fantasy based prediction I'm sure - but pretty hard to see how it will fail if they all convert, and launch costs are under a million a batch.

Even if I replaced every agreement signed with 5m..... they add up to over 100 million - ie replacement costs per year... and the list is bigger now!