Ann: Company Presentation, page-39

Where do you people get all of this twisted logic from? Totally baffled, I really am.

Since you want to equate SAS with property developer then I would explain to you within that context to help you and everyone else reading to understand.

A property developer markets their potential product to potential investors/buyers using sales tactics and spiels in hope that they can get the funds needed or at least some concrete sign of commitment, such as downpayment that they can then use as leverage in return for loans to build start building. We know for a fact that some spiels are downright insidious and investors/buyers do lose money over botched project. There may be a plethora of reasons as to why that happens, it could be blown out cost, fraudulent conduct, economic downturn, etc.

The way I see it SAS is very similar,

At the start SAS marketed their potential product, complete with their grandiose potential revenue claims, to potential investors using spiels in hope that they can get funds. They eventually did, get at least 22 million dollars CASH to start building. By all account then SAS already did their spiels and should be building and launching their pearls especially after the last CR of 15 million where they explicitly stated that the funds were going to be used for design, build and launch of 20 pearls and, from memory, Meir said Yes when asked if there is enough funds to build and launch them. There were also announcements that they are getting revenues from the 3Ds and there are customers for them and that revenue was going to ramp up in 2nd half of 2018 to eventually reach 1 million...where are the resuls here? No pearls have been built with the 15 millions...no meaningful revenue from the 3Ds...there is absolutely no excuse because they mentioned everything, explicitly in the relevant announcements...Global sat? Gone. There are also many other examples and yet instead of fulfilling their promise, doing what the said they were going to do they instead sign a bunch of MoUs with RANDOM SPEC COMPANIES.

It is important to remember that those MoUs are not commercial offtake agreements so those MoUs are absolutely useless from commercial viability standpoint. Better than nothing? Yes but it is not significantly better at all to have them. They are frankly, to me, just vanity akin to the kinds of certificates and awards that you can pay to get.

So they have done their spiel got their money and tested their tech with the success of which is based on nothing but blind faith and trust and that is it. Now you expect people to just plonk 50 million?

In the context of property developer then, investors/buyers already gave 15 million dollars and they said that they were going to build the houses and yet after a relatively long wait you realized that they haven't even cleared the land yet.