For everyone who thinks that this company update is positive, do you like a CR at 1 cent? As far as I am concern, without another CR then there will be no launch. If there is a RIP flag then the most recent series of announcements are it. I can't help but shake my head in disbelief how people can still see it as positive. It is so scary, like those people in horror movies clutching a fake plastic baby because they couldn't reconcile the lost if their most loved child...
anyway...
It seems that
people miss some vital information with regard to the design of the pearls. The new agreement is for new pearls/constellation, but what does that mean?
The design of the pearls has changed from 8UL design to significantly smaller 6U size. That, to me, indicates a change to a much less capable and probably much cheaper design. So in my view, that is why gomspace and SAS had to make a new agreement because
the old agreement was for 8UL design. I hope that helps to resolve all the confusion that people may have...
So the old agreement was for 8U design but it seems that there is no way that SAS can afford that. So the way I understand it SAS need to choose the cheaper 6U design. New cheaper design = new contract.
So I believe a downgrade in design. The 3 Diamonds, which are supposed to be generating revenue by now but instead just float around stupidly, were of 3U design. My concern is that it could be that, to save cost, the pearls would be using the same design as the 3 Diamonds with the excess 3U being occupied with nothing but empty space just so they can fit inside the d-orbit deployer. I believe the purpose is so they don't have to overhaul the whole design of the deployer.
Actually...what is the status on the d-orbit deployer? I know SAS have completed the CDR but
have the deployer itself been built? Actually...have they paid d-orbit yet?????So SAS has 5.4 million AUD to spend plus 1.4 million AUD from cost savings, despite management giving themselves pay rises. So that is 6.8 million and in euros that is 4.3 million euros, so SAS only has 4.3 million euros to spend.
...The problem is that the contract for gomspace is 7 million euros for 16 pearls...SAS only has 4.3 million euros. So SAS is 2.7 million euros short JUST FOR THE PEARLS. SAS still has to pay insurance, probably d-orbit deployer, launch cost, end user devices, terminals, groundstations...Bank loans? We all know this will never happen. Even gomspace is wary of SAS now,
So the way I see it, no matter how you spin it, SAS is short on cash in absolute terms. It is astonishing, absolutely astonishing how people can still think that everything is alright and good even. It is almost scary and makes me lose a little bit of hope in humanity...the numbers are there....
My prediction is this, there is not going to be a launch ever and voluntary administration or Zombie mode by early 2020.
Maybe prepare your heart for 1 cent CR at best?
The Australian board members have jumped ship, imagine that...not just one but two of them. I believe an asx listed company is required to have 2 board member Australian? So SAS may not come out of trading halt until they find new ones.
