Ann: Distribution Agreement Signed with GlobalSat Group, page-31

I am sure everyone would be jumping with joy as usual but I think people really need to learn to think deeper beyond emotional response. After having briefly gone through the announcement it is, from what I have understood, I believe this is just another vanity announcement and means very little if anything. I will explain why I believe so and I think people will find it compelling.

Have a read through SAT-space Africa announcement dated 30th of August 2016 again:

https://www.investi.com.au/api/announcements/sas/01773294.pdf

Not too long after that announcement, on 24th November SAS went into a trading halt for capital raise.

Next we have the beeptool announcement, on 12th January 2017:

https://www.investi.com.au/api/announcements/sas/01819375.pdf

And another Sat Space Africa announcement, on 24th of March 2017:

https://www.investi.com.au/api/announcements/sas/01841770.pdf

Again not too long after SAS went into a trading halt, on 1st of May for yet another capital raise.

Those announcements, I may have missed others, (not taking into account all the later announcements mentioning first revenue from the 3Ds and ramping up of revenue in 2n half 2018) are for the 3Ds. We all know now how those revenues claims never came....never realized with no accountability whatsoever.

So now let's talk about latest agreement with Global sat. That announcement is a distribution agreement for:

"....non-exclusive commercial terms for GlobalSat to distribute,sell, market and promote SAS’ ground-breaking narrow-band connectivity solutions and respective products to its customers, affiliates, resellers, subscribers and end users within Latin America."

And the way I understand it is NOT a commercial offtake agreement. It assumes that SAS will be able to produce products and services. If SAS fails to do that then global sat is not obligated to do anything. I think it is also important to explore the idea, based on my personal logic, that the agreement may involve SAS actually paying global sat instead of the other way around.

I believe the agreement really means nothing because it guarantees nothing. Just like the agreements with Beeptool and Sat-Space Africa how is this global sat agreement any different?

I am actually quite concern as to how people quickly forget things...