Ann: Appendix 4E and Audited 2017 Financial Report, page-6

I understand your sentiment but isn't this still a spec stock? You are basing the future financial feasibility of the business on the revenue they will gain from their current Proof of Concept: the Three Diamonds.

The idea of maintaining a sustainable business with only 3 satellites isn't what their business model is about. It's a bigger constellation which will bring more revenue. Of course there is a need for additional finance in whatever form it needs to take to build the remainder of the satellites. If you read between the lines there are relationships that may further develop between SAS and GomSpace to build the satellites (they built the first three and helped test them); and also prospects for developing relationships with Virgin Galactic (a possible method for launch). So CR or whatever you call it will happen - that's what the festival circuit is about surely? To help drum up interest?

I share your concern about the shares given to the execs, but take into account the core team members (not necessarily the finance managers / legals) have personally put a decade+ years into this project, and it wouldn't exist without them. So I don't feel too bad given the only thing I have really contributed is money and possibly too much time on forums. Financially I've already multiplied it due to their great work. If they're making some coin from it too, and quite a bit, it's not enough to make me freak out and duck and cover. It's a patience game as it shifts to making revenue while the company continue to build the constellation. Congrats to the team for an awesome job.

All best
D