Ann: $12m Placement Secured and $3m Priority Offer Underwritten, page-30

I have always been positive re SAS but this latest announcement just confirms that these guys are greedy slimy people.  

Why didn't they forego 50% of their own free shares (have 333 million each or there abouts) and then have them sold for 3 cents to new investors - that way paying shareholders would not have been diluted, we would have the money needed and they will still become multi millionaires if SAS is successful.  Also if the company is struggling cashflow wise because of their incompetence in running a business (no prior experience here) then maybe take a pay cut on your $1m plus salaries!!

I also laughed at this comment "The support we received is indicative of the confidence the market has in our ability to deliver on milestones and to achieve the objectives we have set out."  At a 44% discount who wouldn't take the risk.  What an insult to shareholders who paid 12 cents and 18 cents for the last CRs that were meant to deliver the Pearl launch!  

I am hoping that the 16 Pearls get launched by 30 June 2019 but as many promised milestones the last 18 months have been missed, who knows.

Cheers SandyC