Ann: Voluntary Suspension Extension, page-78

Yeah, I don't know.  I can't predict and I don't care what happens, really, as long as they keep going and don't resort to an SPP.  That will be a death knell, I'm afraid, and a sign that we'll need Mother Theresa in the house as it will take one heck of a miracle to make it from there.

Between the market presence, the long line of partners willing to commit revenue, and the technical achievements then this thing is primed for investment.  If it doesn't make it now then I don't think it will make it at all.

And I don't get the whiff of desperation from these delays (unless they suddenly announce an SPP - that will be desperate).  But whatever terms or deals are being arranged are certainly not simple.  The lawyers are obviously working overtime.

Also, remember that if this does live then the most dilution we're looking at is 30% (we'll have 70% of our holdings left from whatever each of us currently own).  They do a deal that makes it until SAS can finance from means other than equity and we're golden, but they may need another round as $15-18$ will only get one batch up, I believe, so more cash is needed for the three-batch threshold where SAS has a chance of being self-funding, or at least able to get loans.  Who knows, maybe banks will loan enough for each batch after they see the returns on the first batch.  Or maybe the first batch brings in double what they estimate (because they cut the value of the three contracts used to estimate it in half, not counting the other 26).  So, who knows?  Still a lot of potential but it all depends on what happens in this next week or two.

Still going or the end of the dream?  The good news is that we have only four weeks left to wonder about this.  They'll be down to about $800k in the bank account this week so the fuel gage orange light is on.  The car is about to sputter and stop without some more petrol.