I concur. To my knowledge it hasn’t been stated anywhere by SAS...

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06/12/18

09:38

Post #: 36767079
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Originally posted by OzJ: ↑

Respectfully, @Hunterr, GOM said for their currently underway CR that they expect an AU$5m payment this quarter, ie by Dec 31. There’s no falsehoods allowed in a prospectus so they wouldn’t make that statement without a solid assurance from SAS.

SAS don’t have that money. SAS also wouldn’t, we hope, outright lie to their single most important business partner (and by timing the two recent board member, chairman and chairman of the risk committee). So SAS must fully expect to raise that cash by the end of this calendar year. They must have made that commitment to multiple parties.

If SAS fail to pay GOM this year because they can’t raise cash then I reckon it’s goodnight Irene.

I’ll hold until the deadly end because that’s what I put myself in for but there’s no denying that the next few weeks are the live or die moment.

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I concur. To my knowledge it hasn’t been stated anywhere by SAS that they only pay Gomspace once the batch is completed. someone post a link to where it was said If I’ve somehow missed it.

To the contrary I spoke with Gomspace a few months ago about the risk of non payment by SAS. As expected they wouldn’t provide details of the arrangement, but they did say that SAS would be required to make milestone payments during the construction of the pearls. This is the best information I have on the issue to date and it doesn’t gel with the story SAS only pay once the satellites are ready. Of course this information was verbal and I wasn’t able to verify it with any company announcements. I heard it direct so I give it some weight, but there is no reason anyone else should, so again if anyone can verify please post a link.

SAS Price at posting: 5.9¢ Sentiment: Buy Disclosure: Held
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