Ann: Quarterly Activities and Cashflow Report, page-82

SAS not dead yet I believe they have a chance through ESA to fund or partnership with them
Pros and cons
PROS
1 The best PRO is that they don’t get bankrupt
2 they have money to move forward
3 they will have a reliable company giving them the money or partnership.
4 they will do a new voting to get the right money needed and it will be more than 15 mill needed.
(15 mill was never enough at all)

Now there are over 2 billion shares out there now if ESA decides to fund SAS they will give them what’s needed at CR price let’s assume it’s 15 mill which it’s not its more they will take up all CR so 1.5 bill shares plus all options. hi
(so total not including options over 3.5billion shares )
CONS
If they decide to partner they will not accept options I would imagine they would want all the shares so I would imagine they will say to SAS
NO options and we will execute price at 0.005
And it will be for $20 mill so that’s 4 bill shares. so total will be 6 bill shares.
PRO
They have a real company in control

IF I was negotiating on ESA behalf that’s what I would do as SAS is desperate.
(And have no choice I would actually go lower)

NOW LETS BE SERIOUS AND REALLY SEE HOW MUCH IS NEEDED FOR FIRST BATCH

8.5 mill AUto build first batch (Confirmed by Gomspace )

3.2 Mill AU /2.2 mill USD for piggyback 14.5 mill AU /10 mill USD dedicated launch. (confirmed by Meir in an announcement)

1.5 mill AU insurance (not confirmed)


8 mill AU operational cost at least with all these delays (confirmed 500,00 for operational cost monthly which has gone higher recently)
And we will not see a launch in a year this is Europe December/January holidays and CDR not even done.
launch 2021 with this delay and then we have to wait for revenue before 1c hits the books so 8 mill is being generous.

I’ll go really cheep on this and say for travel and other things
3 mill

so total and I’ll use piggyback the cheapest possible outcome and I never put down paying the bank back for the loans.

8.5 mill
3.2 mill
1.5 mill
8 mill
3 mill
So as you can see with basic adding up we are well in the 20 mill range needed
Total of about’s $24.2 mill
So this is why they never got CR they did not fool them.
SAS NEED IN ACCESS OF $24 mill to get first batch up till any sort of revenue hits SAS books.

so even if ESA steps in it will not have an impact on SP moving forward unless they take over fully
Or at the very least give SAS $25 mill to get first batch up. any less then we will be in same boat.
I still expect blood on open if it opens.