AGM - Jan 2020, page-122

How is it not a lie when they announce "SAS 3 Diamonds Nano Satellites Generate FIRST revenues".

The title is written in past tense and then the first headline point is it's BEGUN generating revenues.

Fact is - 0 revenue was generated.

The entire announcement was clearly WRONG as NO revenue was generated. What do you want to call that if it isn't a lie? Are you saying that on the SAME day they announce that REVENUE HAS BEGUN GENERATING, they changed their mind and business plan? If so where was the follow up announcement clarifying this?

LOTS OF PEOPLE BROUGHT IN ON THE BASIS THAT THE COMPANY HAS BEGUN GENERATING REVENUE FROM THIS ONE ANNOUNCEMENT.

How can you not see this or understand this???

On to the second point, CR's - there were 2 CR's which were announced to fund the first batch of pearls:
- 13th March 2018 - $15m
- February 2019 - $10m - we all know what happend with this one.. change of business plan blah blah. really this $10m was used repay creditors.

As you can see from the above, they clearly said that the $15m was to COMPLETE the entire first batch including launch costs. Don't give me a RUBBISH excuse about budgets slipping. This is not a big company and anyone with basic forecasting skills is able to foresee the costs required, especially when they have SIGNED contracts for the manufacture and launch which would show the detailed cost breakdowns. They knew how much each batch cost, they knew how much each launch cost - simple as that. They simply didn't raise enough money and should have gone bigger when the share price and sentiment was higher.

And tell you what - from what Hunterr is saying and what other people have calculated, even this $15.8m won't be enough to pay for the satellites and launch - LOL.

You're making excuses for the Company's failures and it's embarassing