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AGM - Jan 2020, page-5

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Dentbumbo

662 Posts.

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13/01/20

18:55

Post #: 42357460
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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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Awesome meeting. I also noted with interest Meir's comment that the satellites are just one piece of the puzzle. SAS also have the frequencies, licenses, spectrums, commercial infrastructure, logistical infrastructure in place. Also the global network is ready to deploy. Operational centre is ready.
SAS Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
12 Upvote

0 Great analysis

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