The combined capital raising, together with completion of additional financing initiatives involving US bank debt + ONGOING KEY SUPPLIER CONTRACT TERMS, will see the company FUNDED to progress to a REVENUE generating position from late 2019.
Trading Halt States:
Trading Halt pending an announcement in relation to a KEY SUPPLIER AGREEMENT(CONTRACT).........the company confirms that the request for a trading halt is material(REVENUE).
I believe the language above is the same and therefore the news on Monday will be positive. SAS may have successfully negotiated an agreement with a key supplier such as Virgin Orbit, GOM SPACE etc to accept payment quarterly (hence 3 months grace) to help manage cash flow.
Simply stated this is a financial initiative by SAS to obtain enough funds to finance the construction and deployment of the Pearls for September (already have enough funds for Pearls launching in June) in order to avoid another capital raising and diluting share value. This is a positive step. Hopefully SAS continues with their negotiations and secures a bank loan. The day that trading halt occurs we will be much closer to Hunters 50c Party.
SAS Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
