Logically speaking, there is no need to cancel an agreement that includes no binding financial commitment. Potentially one could just let such agreement last forever without any repercussion. Take global sat agreement as an example, to my knowledge that agreement is for non-exclusive distribution agreement with no financial commitment nor obligation affixed. Presumably then, Global Sat could, potentially, let the agreement remain forever without cancelling because of the fact that there is no impact to keeping it alive. With that in mind, I don't see why there would be any who would cancel for a simple reason because there is no need for it. Things would be different if commercial offtake agreement is involved. To my knowledge, however, SAS seems to not have a single one of such thing despite them would be needing it if they are to generate any meaningful revenue. In a podcast interview, I remember Meirs says it himself that SAS is to work with carriers because they do not deal with end users themselves and yet they have not signed a single offtake agreement with them? In the same podcast, I remember Meir equating the pearls with cell towers working with carriers. What use is a cell tower with no carriers? At the moment, I think the prospect of any revenue being generated is not great. In my view, management should at least elaborate on where the last CR went? Considering that the last amount was for design, build and launch and yet it seems that they have only managed to design. Also what is reason for the late payment? As far as I see it, it seems that there is lot of room for improvement when it comes to the company's ability to budget, expend capital and schedule properly. Some of the most important points in a company and yet SAS seems to be lacking in those departments.
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