I agree. Looks down and out. No way this will get debt funding, not a chance. If you can hardly raise on market then no bank will offer assistance. They will be going back to the market for more cash to launch.
The only little piece of light I see is MM putting up 400k. He obviously sees something of benefit, but then again this chump change to him.
SAS Price at posting:
5.4¢ Sentiment: Sell Disclosure: Held