If they do not open tomorrow, do you really expect the majority of participants of the last CR to elect not to take the refund? Given the continued in-eligibility to trade on the ASX I predict most will take their money and run. If this happens another CR will be needed very soon which I do not expect SAS could survive.
If by some chance they retain the majority of funds from the last CR, how do you think they can keep the company running 9-12 months minimum until the first batch is delivered? Another CR Q3 or Q4 would be needed. Now there are already many SOI, more dilution is dangerous. I know many respected investors who will not touch a penny stock with over 1.5 billion SOI. Yes consolidation may be required but they almost never work out favourably for shareholders.
This is assuming of course the Pearls are delivered on time, funding for launch is secured, even then there will be a period of in orbit testing. Assuming of course they pass testing, then maybe they would finally see some revenue. A lot of assumptions there alone.
To me, recent announcements are nothing but fluff in a desperate attempt to repair sentiment. But like always the announcements are are lacking any sort of backbone information about how they are actually going to achieve their goals.
What sort of company cannot tell their shareholders if or how they will pay their electricity bills in 3 months time?
SAS Price at posting:
2.8¢ Sentiment: Sell Disclosure: Not Held
