Ann: Trading Halt, page-214

Yeah, I’m still disappointed. Perhaps unreasonably so. It just seems to me that if you’re going to battle in the global comms market then doing it off common backing in the Australian exchange is an unlikely path to success.

But we do not know what sort of new commercial agreements may be ready to go. We don’t know what sort of conditions were put on any funding proposals; perhaps they made an SPP and SI raise the more attractive alternative. Maybe SAS need to demonstrate more achievement before they can negotiate on more favourable terms. It’s tough to say.

Anyways, they’ll soon have enough cash to run out the year, I think and then we’ll see where they go from there.

Also, adding up the numbers it’s seems like $12.5m, while enough to get a batch of pearls up, is not enough to keep the operational lights on. Particularly when there is only $1m or so in the bank. More money must come from somewhere. All I can figure is that perhaps the diamonds are bringing in cash (they did earn $653 in the last 10 days or so of past calendar year which were their first days of commercial operations). Maybe the Diamonds can bring in enough money to meet payroll and pay rent.