Yes, Meir did say he "had 100 meetings with potential clients".
Listening to the AGM again,
- Michael Malone said he will seek to participate in the next round of Capital Raising. I wonder if he means a retail CR or for sophisticated investors like him. They want $20m to get the first batch up and using the demonstrated revenue from this batch, start marketing for the next two batches to get to a self sustaining revenue situation the get the rest of the Pearls up. As has already been stated, the first batch will provide SAS with daily Op Ex funding which will also help to stabilise the share price.
Talking to the big African telcos (the Telstras of Africa) he came across some interesting facts'
600 million Africans are unconnected.Of the other 600m who are connected, 80% are texting (mainly money) and it's not that different in other areas of the world - so the potential market is huge. Nigeria has 200m people and 40m are not subscribers of any telco.
Of the 600m who are connected, they are paying $10-$20 per month to mobile operators even if they are not subscribers due to not having phone service in their areas. However, they still do own a phone. Because they have no signal they have to travel to the nearest city, buy topup credit and use their phone. SAS can connect them where they live and they won't have to travel.
Over the past year, SAS has really gone into the financial model of the business in preparation for discussions with investment banks, firms and potential partners. Data from the World Banks shows that only in the equatorial region, only in the rural populations (excluding cities and large centres), including only 18-55 year olds and only in areas that have electricity (which excludes a large potential customers base for SAS services), that even with this excluded population,
the market for the SAS type narrow band product offering exceeds $5 billion.
