My reading of the prospectus is that they are going with a batch of 8 if they get the $15m. The reference to 4 is if they get only around $12m.
Extract from prospectus:
If less than the full subscription is raised under the Entitlement Offer and the Placement Offer, the Company intends to apply the funds raised as follows: (a) the first $64,829 will be applied towards Expenses of the Offers; (b) thereafter, the funds raised will be applied as follows: (i) in the event total funds raised under the Offers exceed $12,000,000, the Company will continue with the proposed business plan with the following amendments: (A) manufacture and launch 4 satellites saving on cost of satellites and launch.
SAS Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held