Go and ask GOMSpace??!!! What a completely insufficient reply!...

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20/01/20

20:57

Post #: 42481131
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Originally posted by 4profit: ↑

Just dialed in to the AGM:

No first strike on the remuneration report. 83% voted For.
Meir believes that Merchant can place the entire shortfall completely (great news if true). Anticipate to be finalised around end of Jan. Process slowed down by Xmas.
Will have first batch in space in 12 months from the end of the CR without any additional funding.
Their goal is still to be a world leader in narrow band comms.
Still believe SAS will be a Unicorn, a $1billion company.
Still ahead of the game compared to competitors.
Have assets apart from the satellites that competitors do not have, such as licences, frequencies and spectrums.
I asked Meir about the $2.3m that GOMspace says in their Q3 fin report that they are owed and are now counting it as a bad debt. Meir said "if I want to know about the GOMspace report, ask GOMspace. As far as SAS is concerned that is not a debt that we acknowledge". (paraphrased by me a bit).
Asked if that debt that GOMspace thinks they are owed is likely to impact on the satellite build. Was to to go and ask GOMspace. Not an SAS problem.
GOMspace contingency not a show-stopper and SAS does not see it as an issue.
All in all, I am feeling a little more hopeful that all is not lost yet.

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Go and ask GOMSpace??!!! What a completely insufficient reply! Your only supplier lacks the confidence in your ability to pay and you say, "not my problem." I suggest it is his problem. It's no one else's problem but his. And its a massive problem (among many others).
SAS Price at posting: 1.6¢ Sentiment: Sell Disclosure: Held
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