Ann: Circular to Shareholders, page-42

One of the many issues the Admistrators would be looking into would be the ownership of any IP associated with SAS. My understanding is that SAS, from the beginning, were dead against patenting any of their technology, especially the IP surrounding the nano-sat autonomous relative positioning control software / programming. Patents are now seen as very expensive blueprints for others to reproduce and if possible make better. Infringement cases are won by those with the most money and smartest ‘silks’!

As far as I know SAS ‘secrets’ are kept like the formula for Coca-Cola. The primary, most valuable SAS IP is in the heads of Meidad Pariente and his very clever wife Maya Glickman. Unless these two are cooperative, I dare say there is no IP value in the company that might result in funding gains for the Administrator.

I also have no idea what came out of the software geeks in Poland. Perhaps some unique billing software and / or tracking associated with monitoring and servicing data transfers for the ‘Internet Of Things”. Personally I can’t think of assets worth salvaging from this wreck. If the IP ‘know-how’ walks, then the 3 diamonds will eventually fall out of orbit and burn-up on re-entry.

Any components or valued works in progress at GomSpace would be claimed back by them. The chances of the Administrator recovering anything from there would be less than ‘remote’. Engaging in the legal process and costs of recovery would be a hugely expensive and pointless exercise, IMO!

Oh, and by the way, there is no love lost between BM and MM. BM was one of several who become disenchanted with the direction that MM was taking SAS. BM chose to resign which then allowed him to sell his shares (cash-out!) without the mandatory disclosure to the market.