Ann: $12m Placement Secured and $3m Priority Offer Underwritten, page-93

Yes you are right - there are a few things that need to be secured for the launch to be guaranteed, mainly the US debt financing.

The BoD are more in the know than anyone else as to how well that is progressing, now for them to make a $700k investment is fairly clear signal that it is progressing in their favor & more than likely to be secured.

I think it's important people take a long term look at what SAS is offering once the full constellation is up.
The revenue potential is in the hundreds of millions, I personally don't know what their cost of sale is and the expected EBITDA once this vision is realized but there is clear irrefutable data on the need for the services SAS is planning to offer. The addressable market is significant, look at how many new nano-satellite start-ups have popped up over the last 12months. - And this is where SAS holders need to take a step back and look at the macro picture, SAS will most likely be the first company to get a working constellation into space for commercialization.

Technology has been demonstrated & confirmed working
Customers secured
Business model confirmed (US Debt package will further solidify that the business model is profitable)

It takes money to make money and when SAS realizes it's vision, you can easily add a 0 to that 3cent SP.

The only losers here are those that expected multi-bagger returns in the space of a year then sold because there holdings turned red and now are emotionally upset and have a personal vendetta against the company.

SAS is and always has been a long term speculative buy and hold.