Interesting...... do not think it is all over like some have mentioned once, twice or a hundred times.
We still have to wait - no doubt more patience & resolve is needed. I recorded the meeting but I can not share due to the file size.
Here is some point from this hook up for people that could not make it:
The meeting took around 40 minutes with half allocated to resolutions and half to SH questions.
Q: Cap raise at the moment - where are we at?
A: The road show in Asia and Australia was really good but would not comment beyond that.
Q: Is 15mil be enough and what will it delv?
A: 15mil will be enough to get us fist assets in space the next 12 months to start generating revenue. That is the goal. Finance will hopefully be completed by next week. This is for the 8 commercial sats, ground terminals, contract launch date.
Q: Sats going up next year will that be 8 or 16?
A: 8 Sats and following that we will launch an additional 8.
Q: Looking for confirmation on which quarter the 8 sats will be launched next year?
A: Q4 and we will do everything we can to get it done by Q3. This depends on the production of the sats but also on the launch opportunities that will match our requirements. It looks like by next year there will be monthly opportunities but not all of them suitable. Currently assume Q4/2020.
Q: Is Gomspace the sat manufacturer or are you talking to other companies?
A: Gomsapce is still the manufacturer and are waiting for us to complete the funding and start the manufacturing of the first 8 sats.
Q: When do you think the negotiation regarding the pearls will conclude?
A: This depending on securing the next stage funding but we are not currently focused on that. First get the 8 sats done and we or Gomspace are not focused on the pearls right now.
Q: What is happening with the diamonds?
A: They are being used for the following:
- Commercial demonstration
- They providing a testing facility in space (services, technology etc)
- Training our team.
- Spectrum monitoring
Q: What global coverage will the 8 sats give us, and commercial outcome?
A: Global coverage and provide service any where in the world. Regarding revenue we are not releasing any forecast. I would add that when we went for the last CR we had 29 customers signed in and now we have over 50 and we are signing more customers as times moves forward.
Q: Will it be IOT or M2M?
A: It will start with both. Services can be used from day one.
Q: Last Ann refereed to Q4 on page 18 and Q3 on page 19. I assume that G1 means Global as apposed to the pearl launch. If you want to comment on that.
A: The time line now - we are doing the CR now so this has shifted a bit. So Q4 is more realistic figure.
Q: Have you had any feed back on the grants that you applied for in Europe?
A: We did not include any grants as we have been conservative. We are in the process of applying for grants in multiple arenas. The US finance process is still moving forward, we will continue to work to get that approved. We have also applied in Poland, UK and Europe. These amount vary from 1 mil upwards.
We address this as opportunity's and do not include these in our cap flow.
All please note that these questions and answers are not word for word!
DYOR & GLTA
SAS Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
