"Cash and cash equivalents of the Company as at 30 June 2019 are $1,935,054" It appears they weren't running on "vapours" as some uniformed individuals miss represented SAS cash flow on HC.
I believe this is a fantastic announcement. I get the share dilution (and options) but this was always going to happen and I'm glad its sophisticated investors putting their hand in for a capital raise and not retail Investors.
Sure they get a discount but of course they would. This capital raising will get passed 100% by shareholders whose alternative is, receivership. Although there is scepticism of pervious CR raises I believe expectation and hype to start building again as the General Meeting in September approaches as 15 Million with current cash flow reserves as well, various government grants to come and debt funding from the US. Probably subject to this proposed CR completion becomes realised and factored in by retail investors moving forward.
SAS is back in business baby! Get these 6U nanosatelites up!
A great day for long term SAS shareholders who see their vision and massive revenue potential IMO.
SAS Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
