I don't think it's negativity Mr Heman, just Devil's advocacy, we have a former mining company now the shell of a UK based startup, run by Israeli's, planning on launching satellites over Africa with a large number of shares on issue and just enough cash to possibly get them though to a launch, if that happens. Satellites given names such as Buddha and called diamonds possibly due to the separate diamond coating powder 'business' of the CEO.
The only reason they listed backdoor is because they wouldn't have been able to list via an ipo and they couldn't list on the aim.
If the shareprice quadrupled tomorrow, I'd be genuinely happy for the people who hold but I'm more confident of pigs flying given they're currently trading at 4 times cash backing..
Take a look at the balance sheet, their assets are 4.1m in cash and nothing else, no intellectual property, no fixed assets, nothing. On their schedule of expenses, 1.2m of their cash is set aside for Licencing? What do they have to license, who are they paying? Another company linked to them? A further 1.7m in working capital and admin expenses making 2.9m or around 58% of their cash.
I'm no rocket scientist but these numbers look very ordinary.
SAS Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held
