How do you interpret the write off of the KSF1 sats down from 5...

How do you interpret the write off of the KSF1 sats down from 5 years to 18 months? Sats were originally supposed to have a 5 year lifespan from launch. So are they saying they will be dead 18 months after launch? They launched in June 2021, so that would mean they are about to die right now, just after they started to generate data. Unless it's 18 months from now, but that doesn't sound that reralistic either.
So potentially we could have a return to no data within the next couple of months while we wait for KSF2 to come online later in 2023!

"In addition, the Company raised capital during February 2023 with net proceeds of €1.4 million over two tranches. Of that amount, €1.0 million from tranche one has been received, and the remaining €0.4 million from tranche two is expected to settle by 28 February 2023. The Company aims to further raise at least €4.2 million combined in two follow on tranches. Success with these future capital raises will be largely impacted by the successful transitioning of KSF1 into operations and the Company’s ability to bring the remaining satellites into use. In order to close the second €2.8 million tranche (out of the €4.2 million referred to above), Kleos will also need to obtain shareholder approval to issue shares in a private placement. Kleos plans to have their AGM in late March/ early April to obtain this approval in sufficient time to raise capital needed. Kleos has been successful in raising funds when needed in the past and believes that past performance is an indicator of potential for future success. During this most recent capital raise, Kleos was not able to prove the satellites were operational as it did not reach the operational service date for KSF1 until after the capital raise was complete, making it more challenging to optimise the capital raise. This should not be the case with a future raise as KSF1 is now operational. The LOCATE service is successfully downloading data today and this data is being provided to both current and potential future customers. Until the Company can raise additional funds to meet the cashflow requirements of the Group, uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern."

"Having considered all of the above factors, the directors believe that the Group will be able to continue as a going concern for at least 12 months from approval of these financial statements. The Group has currently planned generation of significant revenue and raising of additional equity funding in its budget and forecast for 2023 and 2024. However, despite the good progress made in 2022, until KSF 2 and KSF 3 are fully operational, delivering commercial services having completed commissioning and in-orbit testing, the uncertainty about the ability of the Company to generate revenue from customers and to raise additional funding indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern.