@@doctornoh Yes, ignore whats been posted here until after you have heard the webcast.
He stated they are waiting to award the contract to build the satellites, this month, before finalizing funding. I think he said there is still more than one option in regards to funding, there will not be a capital raising by EOS. They now have more than 20 MOU's from customers, and the value of Spacelink goes up with each new customer. These Mou's will be converted to contracts after the build tender has been awarded. The funding will be done over several years, there is no need to fund the whole project now.
They will be sending a large invoice to the bank holding the line of credit for ME contract this month also, they are not sure when the funds will be received, but the revenue will be in the next quarterly.
The reference to Covid was in regards to the drop in EBIT guidance which is due to the fact they are running split shifts in the Canberra production facility due to Covid.
Cheers
EOS Price at posting:
$3.90 Sentiment: Buy Disclosure: Held
(20min delay)